Friday! Friday! Friday! Bernanke! Bernanke! Bernanke!
By: Joe NikrutoAugust 23rd, 2011 9:35AM CDT
If you are like us and you grew up anywhere near a drag strip in the 60's or 70's you can still hear that radio announcers voice in your head. Oh the excitement that 20 second radio spot could generate in the hearts and minds of youthful offenders everywhere! This Friday's 2011 Economic Policy Symposium held at Jackson Hole, WY starring Federal Reserve Chairman Benjamin Shalom Bernanke has been getting the same treatment as the fast cars from our halcyon days.
To QE3 or not to QE3? To hear the heads on TV this morning it is all but a foregone conclusion that Big Ben won't. We understand and buy into the argument that the Fed shouldn't engage in another round of quantitative easing. But we might suggest that someone will be trying to get elected again here pretty soon, that someone being the President. So it's likely that QE3 could still be on the table. The Fed's apolitical nature notwithstanding, it is safe to say no one in the Administration will complain if Bernanke primes the pump of the Obama for America 2012 engine. In his recent testimony the Chairman said, "The possibility remains that the recent economic weakness may prove more persistent than expected and that deflationary risks might re-emerge, implying a need for additional policy support." Additional policy support indeed!
Lest we think that we can turn off the monitors and go golfing until Friday we have included a few of the economic reports scheduled for the week. These were sourced from http://www.rjomrt.com where you can find a more complete list of upcoming events and timely, insightful research.
Tuesday 8/23
7:55 Johnson Redbook weekly retail sales figures.
9:00 July New Home sales and Richmond Fed manufacturing index.
Wed 8/24
8:30 July Durable goods orders.
Thurs 8/25
7:30 Weekly initial unemployment claims.
Friday 8/26
7:30 GDP numbers for Q2.
8:55 U of M consumer confidence.
9:00 Fed Chairman Bernanke gives speech at Economic Policy Symposium 2011, Jackson Hole, WY.
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Joe Nikruto
Senior Commodities Broker
Joe Nikruto attended Indiana State University and DePaul University in Chicago with a major concentration in economics. "It was during college that I got a job as a runner at the Chicago Board of Trade. I was immediately hooked," he says.
He adds that he also enjoys futures trading because anyone can do it. "Your success depends on how you handle the risk and how much work you are willing to put in. You don't need a big-time Wall Street connection, or a deg.... Read More
He adds that he also enjoys futures trading because anyone can do it. "Your success depends on how you handle the risk and how much work you are willing to put in. You don't need a big-time Wall Street connection, or a deg.... Read More
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