Monthly Archives: November 2013

Oct. Retail Sales, Consumer Prices, Existing Home Sales, Nov. Fedspeak

The Quantum Strangeness of Recent Data and Monetary Policy October Retail Sales increased by a greater-than-expected 0.4 percent; autos sales quirky/quarky. Ex-auto Retail Sales gained 0.2 percent, despite drags from building materials and gasoline. The Consumer Price Index for October … Continue reading

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Comerica Economic Weekly

It appears that forward guidance on the Federal Reserve’s highly accommodative monetary policy is in flux with the expected confirmation of Janet Yellen as the next chair of the Federal Open Market Committee. Through mid-summer, forward guidance by Fed officials … Continue reading

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The First Hints of the Yellen Fed

In her prepared remarks for her Senate confirmation hearing, Janet Yellen gave no specific recommendations for monetary policy changes. She is widely expected to be confirmed as the next chair of the Federal Open Market Committee later this year. She … Continue reading

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Comerica Economic Weekly

At first glance, the economic data from this week has been better than expected. However, the devil is in the details, and the details do not look as good as what the headlines suggest. Total nonfarm employment increased by 204,000 … Continue reading

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Comerica Bank’s Florida Index Dips Again in August

Comerica Bank’s Florida Economic Activity Index decreased 5.2 percentage points in August, to a level of 113.2. August’s index reading is 33 points, or 40 percent, above the index cyclical low of 80.6. The index averaged 105 in 2012, 10 … Continue reading

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Comerica Bank’s Arizona Index Drops in August

Comerica Bank’s Arizona Economic Activity Index fell in August, decreasing 1.9 percentage points to a level of 95.3. August’s index reading is 24 points, or 34 percent, above the index cyclical low of 71.3. The index averaged 87.2 points for … Continue reading

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Comerica Economic Weekly

It’s been a busy week for data as federal agencies work their way back to a normal release schedule after the partial government shutdown. As expected, the Federal Reserve’s Federal Open Market Committee voted to maintain its program of asset purchases … Continue reading

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