Key data releases this week include: new home sales (Tue), consumer confidence (Tue), durable goods (Wed), pending home sales (Wed), 2Q GDP revision (Thu), personal income (Fri), and consumer Sentiment (Fri).
Haver
September 20, 2017
At (Wednesday’s) meeting of the Federal Open Market Committee, the targeted federal funds rate was held steady in a range of 1.00% to 1.25%. Additionally, the Fed stated that "The Committee expects that economic conditions will evolve in a manner that will warrant gradual increases in the federal funds rate." Nevertheless, the Fed stated that the rate will remain below its long-run level.
The New York Times
September 20, 2017
Los Angeles Times
Wednesday, September 20, 2017
September 20, 2017
Bloomberg
September 20, 2017
Politico Pro
The Federal Reserve says it is confident enough about the US economy to raise interest rates further and to start reducing its $4.5 trillion balance sheet next month. The Federal Open Market Committee expects the economy to continue expanding at a moderate pace and the job market to keep strengthening.
Haver
September 20, 2017
Sales of existing homes fell 1.7% (+0.2% y/y) during August to 5.350 million units (AR) from an unrevised 5.440 million in July. It was the lowest volume of sales since August 2016. Expectations were for 5.470 million sales in the Action Economics Forecast Survey.
Haver
September 21, 2017
The Federal Housing Finance Agency's (FHFA) index of U.S. house prices rose 6.3% y/y during July compared to a peak 7.0% y/y gain in April. Recent figures show an even sharper deceleration in house price inflation. During the last three months, prices improved at a slow 2.8% annual rate.
MarketWatch
September 18, 2017
Deutsche Welle/Agence France-Presse/Reuters
Monday, September 18, 2017
While eurozone inflation rose to 1.5% year on year in August, Destatis reported Monday, the European Central Bank anticipates a dip to 0.9% in the first quarter compared with the Q1 surge in 2017. The central bank, however, is determined to outline its plan for winding down stimulus next month, President Mario Draghi has indicated.
Nikkei Asian Review
September 21, 2017
The Bank of Japan's policy board voted 8-1 to hold the key interest rate at negative 0.1% and to hold the yield on 10-year government bonds at or close to zero. The central bank said it will stick with its bond-buying plan, increasing debt holdings by about $710 billion a year.
Barron’s
September 25, 2017
According to a new report by the National Association of Realtors and American Student Assistance, the $1.4 trillion in student debt is delaying millennial home buying by seven years. A full 93% cite student loan debt as the factor delaying them from owning a home.
RTT News
September 20, 2017
Bloomberg
Wednesday, September 20, 2017
September 20, 2017
Financial Times
The Organization for Economic Cooperation and Development said global economic growth will rise this year to its highest point since 2011. However, the OECD cautioned that a self-sustained recovery is not guaranteed.
Deutsche Welle/Deutsche Presse-Agentur/Reuters
September 21, 2017
The World Trade Organization said global trade will increase 3.6% this year, up from its previous forecast of 2.4%. The WTO warned that geopolitical tensions and protectionist rhetoric could compromise the trade recovery.

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