All eyes are on the Federal Reserve this week as its Federal Open Market Committee meets Monday and Tuesday to discuss interest rates.
Heads up: All eyes are on the Federal Reserve this week as its Federal Open Market Committee meets Monday and Tuesday to discuss interest rates. Some economists are predicting the Fed could cut rates by three-quarters of a percentage point, dropping its key rate to just 0.25 percent. Major economic reports due out this week include Monday’s report on industrial production for November; Tuesday’s monthly update on housing starts and the consumer price index; and Thursday, the Conference Board’s leading economic indicators for November.
Tuesday: State and local unemployment figures for November are released. For October, Washington state’s jobless rate jumped to 6.3 percent from 5.7 percent in September, while the Seattle metro area’s unemployment rate rose from 4.5 percent in September to 5.4 percent in October. The U.S. figure for November, released earlier this month, was 6.7 percent, up from 6.5 percent in October.
Wednesday: Nike, the world’s leading distributor of athletic footwear, plans to release its second quarter financial results after the market closes. A 2 p.m. conference call will be webcast live at www.nikebiz.com/investors.