| Today's Economy
Powell Challenged to Identify the Unidentifiable The Fed will know what the normal size of the balance sheet once it hits it. Powell Gets Pressed on Fed's Policy Framework A debate will occur within the central bank, but it won't be lively as the Fed will stick with the floor system. Europe Daily Briefing: The MPC in a Bind U.K. inflation figures pushed markets to reprice the chances of a rate hike next month. Behind U.S. Housing Starts' Big Drop Tariffs aren't helping, but they don't explain a decline of this magnitude. » VIEW MORE TODAY'S ECONOMY
Commentary
Colombia Outlook: Expansion Gains Momentum Oil prices add uncertainty. U.S. Regional Outlook: Wage, Salary Growth Looking Up Job growth is solid, but trade tensions are a significant risk. U.S. Chartbook: Somethings Old, New, Borrowed and Blue An expanding trade war has had only a limited effect on inflation, but confidence has begun to slip. Explaining the Wage Growth Mystery If unemployment is so low, why has wage growth not picked up? » VIEW MORE COMMENTARY
Today's Economic Indicators
United Kingdom
Consumer Price Index
Jun. 2018: 2.4%
U.K. inflation held steady at 2.4% in June, below the consensus expectations of an uptick to 2.6%. Euro Zone
Consumer Price Index
Jun. 2018: 2%
The euro zone's annual harmonized inflation ticked up to 2% in June, from 1.9% in May, in line with the consensus and the initial estimate. United States
MBA Mortgage Applications Survey
July 13: -2.5%
Mortgage applications fell last week, giving up the gains of the prior week. United States
New Residential Construction (C20)
Jun. 2018: 1.173 mil
Residential construction was uniformly downbeat in June. Russian Federation
Retail Sales
Jun. 2018: 3.0%
Retail trade logged a 1.7% increase in June after a similar gain in May. Russian Federation
Unemployment
Jun. 2018: 4.7%
Russia's unemployment rate held at 4.7% in June, remaining at its lowest level on record. United States
Oil Inventories
July 13: 411.1 mil barrels
An unexpected build in oil inventories will put downward pressure on oil prices. United States
Beige Book
Jul. 2018:
The Federal Reserve’s July Beige Book, spanning economic activity from mid-May through June, suggests that economic activity expanded moderately or modestly in 10 of the 12 districts. Japan
Foreign Trade
Jun. 2018:
Australia
Employment Situation
Jun. 2018:
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