The new chairman of the Federal Reserve Board, Ben Bernanke, swings into action this week. He will preside for the first time over a meeting of the Fed committee that sets the interest rate banks charge one another on overnight loans. If Bernanke doesn't ratchet the rate up one more notch to 4.75 percent, it will come as a surprise.
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Monday, March 27:
INVESTOR OPTIMISM: UBS releases its latest Index of Investor Optimism. The index hit a 19-month high in January before dropping last month.
EARNINGS TO WATCH: Walgreen.
Tuesday, March 28:
BERNANKE TIME: The Federal Open Market Committee has raised the target federal funds rate by a quarter percentage point at 14 consecutive meetings, dating to June 2003, when the rate stood at 1 percent. Will Ben Bernanke, the new Federal Reserve Board chairman, make it 15 in a row?
CONSUMER CONFIDENCE: The Conference Board releases its monthly index of consumer confidence, which fell sharply in February.
MANUFACTURING SURVEY: The Richmond branch of the Federal Reserve releases its monthly survey of manufacturing in the central Atlantic region.
EARNINGS TO WATCH: Paychex, Tiffany & Co., Lennar Corp.
Wednesday, March 29:
FUEL INVENTORIES: The Energy Information Administration reports on crude oil and gasoline inventories for the previous week.
EARNINGS TO WATCH: Robbins & Myers.
Thursday, March 30:
GROSS DOMESTIC PRODUCT: The Commerce Department's Bureau of Economic Analysis revises its estimate of GDP growth for the fourth quarter of 2005. The bureau reported last month that economic activity grew by 1.6 percent for the quarter, in line with economists' expectations. The revised figure includes information on corporate profits.
EARNINGS TO WATCH: Best Buy.
Friday, March 31:
CHICAGO PURCHASING MANAGERS' INDEX: This monthly business barometer of economic activity in the Midwest has showed a slowing trend in recent months.
PERSONAL INCOME: The Commerce Department reports on personal income and spending for the month of February.
CONSUMER SENTIMENT: The University of Michigan reports on its latest survey of consumer confidence.
