More Economic Talk Than Action
Jan. 8, 2007Jan. 12, 2007
This will be a big week for the talking heads in Washington, D.C., and on Wall Street, as a number of Federal Reserve officials and other economists are scheduled to weigh in on the 2007 economic outlook. But don't expect a big week for economic news; only a handful of government reports are due out this week.
Monday, January 8:
CONSUMER CREDIT: The Federal Reserve Board will issue its latest report on consumer borrowing trends. Investors will be paying particular attention to this month's figures, as they reflect recent holiday spending.
ECONOMIC SUMMITS: President Bush is scheduled to meet with European Commission President JosÃÂÃÂÃÂÃÂ© Barroso at the White House this afternoon. Meanwhile, U.S. Treasury Secretary Henry Paulson will meet with Japan's finance minister, Koji Omo, in Washington at a separate gathering.
FEDSPEAK: Federal Reserve Vice Chairman Donald Kohn is expected to offer his outlook for the U.S. economy in a speech in Atlanta.
Tuesday, January 9:
HOUSING OUTLOOK: The National Association of Realtors will give its outlook for the residential real-estate market in 2007.
EARNINGS TO WATCH: Alcoa
Wednesday, January 10:
MORE FEDSPEAK: Today, it's Michael Moskow's turn to weigh in on the U.S. economic outlook. The president of the Federal Reserve Bank of Chicago, who has been among the most vocal Fed officials warning about inflation, will share his views on the economy in a speech in Coralville, Iowa.
EARNINGS TO WATCH: Genentech
Thursday, January 11:
ECONOMIC OUTLOOK: The mortgage giant Freddie Mac is scheduled to release its 2007 forecast for the U.S. economy today.
STILL MORE FEDSPEAK: Timothy Geithner, president of the New York Fed, is slated to speak on the health of the global economy at a Council on Foreign Relations gathering in New York.
EARNINGS TO WATCH: M&T Bank Corp. and MGIC Investment Corp.
Friday, January 12:
RETAIL SALES: The Commerce Department will release its December retail sales report.
EARLY CLOSE IN THE BOND MARKET: The bond market is expected to close early this afternoon, at 2 p.m.and will remain closed all day Monday, January 15in observance of Martin Luther King Day. The stock market will also be closed on Monday.