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Schedule for Week of December 11, 2021

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The key economic reports this week are November CPI and Retail Sales.

For manufacturing, November Industrial Production, and the December New York and Philly Fed surveys, will be released this week.

The FOMC meets this week, and the FOMC is expected to announce a 50 bp hike in the Fed Funds rate.

—– Monday, December 13th —–
No major economic releases scheduled.

—– Tuesday, December 14th —–
6:00 AM: NFIB Small Business Optimism Index for November.

8:30 AM: The Consumer Price Index for November from the BLS. The consensus is for a 0.3% increase in CPI, and a 0.3% increase in core CPI.  The consensus is for CPI to be up 7.3% year-over-year and core CPI to be up 6.1% YoY.

—– Wednesday, December 15th —–
7:00 AM ET: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

During the day: The AIA’s Architecture Billings Index for November (a leading indicator for commercial real estate).

2:00 PM: FOMC Meeting Announcement. The FOMC is expected to announce a 50 bp hike in the Fed Funds rate.

2:00 PM: FOMC Forecasts This will include the Federal Open Market Committee (FOMC) participants’ projections of the appropriate target federal funds rate along with the quarterly economic projections.

2:30 PM: Fed Chair Jerome Powell holds a press briefing following the FOMC announcement.

—– Thursday, December 16th —–
8:30 AM ET: Retail sales for November will be released.  The consensus is for a 0.2% decrease in retail sales.

This graph shows retail sales since 1992. This is monthly retail sales and food service, seasonally adjusted (total and ex-gasoline).

8:30 AM: The initial weekly unemployment claims report will be released.  The consensus is for 230 thousand initial claims, unchanged from 230 thousand last week.

8:30 AM: The New York Fed Empire State manufacturing survey for December. The consensus is for a reading of -1.0, down from 4.5.

8:30 AM: the Philly Fed manufacturing survey for December. The consensus is for a reading of -12.0, up from -19.4.

9:15 AM: The Fed will release Industrial Production and Capacity Utilization for November.

This graph shows industrial production since 1967.

The consensus is for a 0.1% increase in Industrial Production, and for Capacity Utilization to decrease to 79.8%.

—– Friday, December 17th —–
No major economic releases scheduled.

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