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This will be a big week for economic news, with the Federal Reserve meeting on Tuesday to set the nation's interest-rate policy. But the bigger news may come at the end of the week, when several U.S. officials will be in Beijing to attend the first-ever Strategic Economic Dialogue, an economic summit between high-level U.S. and Chinese policymakers.
Monday, December 11:
ECONOMIC FORECAST: The Securities Industry and Financial Markets Association will release its economic forecast, based on the results of a survey of its economic advisory committee.
Tuesday, December 12:
FED MEETING: The Federal Reserve's monetary committee will meet today to discuss the nation's interest-rate policy. The consensus on Wall Street is that the Fed will not raise short-term rates, especially since inflation appears to be under control. But recently, an influential Federal Reserve official, Michael Moskow of the Federal Reserve Bank of Chicago, has warned that inflation may be a bigger threat than many assume.
ECONOMIC FORECAST: The Institute for Supply Management will release its semiannual economic forecast.
BUSINESS ROUNDTABLE: The Business Roundtable, a leading association of corporate chieftains, will release the results of its latest CEO Economic Outlook Survey.
EARNINGS TO WATCH: Best Buy, Dollar General, and Goldman Sachs
Wednesday, December 13:
RETAIL SALES: The Commerce Department will release retail sales data for November. Last month's results could foreshadow trends in this year's critical holiday shopping season.
Thursday, December 14:
SERVICES SURVEY: The Census Bureau will release the results of its quarterly services survey, which will assess trends in information-services and technology industries.
CHINA ECONOMIC SUMMIT: Federal Reserve Chairman Ben Bernanke and U.S. Treasury Secretary Henry Paulson will be in Beijing for the first Strategic Economic Dialogue between the United States and China.
ECONOMIC OUTLOOK: Standard & Poor's chief investment strategist Sam Stovall and chief economist David Wyss will offer their economic outlook for 2007.
EARNINGS TO WATCH: Adobe Systems, Bear Stearns, Costco, Pier 1 Imports, and Winnebago
Friday, December 15:
INFLATION REPORT: The Labor Department will unveil a fresh batch of inflation data, with the release of the consumer price index report for November.
FED SPEAK: Fed Chairman Ben Bernanke will offer his thoughts on the Chinese economy in a speech in Beijing.
