| Today's Economy
Fed Tried to Throw Markets a Bone but Missed It's time to kill the dot plot. Europe Daily Briefing: Let's Wait and See What Brexit Brings The bank revised down its short-term growth and inflation forecasts. Asia-Pacific Daily Briefing: Bank of Japan Holds Steady Bank Indonesia also took a breather and kept the policy rate unchanged. G. William Miller Was the Last Lawyer to Serve as Fed Chief Current Fed Chair Powell, also a lawyer, is learning on the job. » VIEW MORE TODAY'S ECONOMY
Commentary
U.S. Macro Outlook: Looking Back and Looking Ahead Strong growth should continue throughout much of 2019, but it won’t quite measure up to this year. U.S. Shutdown Risks, Budget Uncertainty Threaten Holiday Cheer Government shutdown risks are greater this time, but the economic toll would be smaller than usual. U.S. Weekly Highlights and Preview, December 14, 2018 The Fed will hike rates but will turn dovish in its statement and dot plot. FOMC Preview: A Dovish Hike Fed will raise rates but signal fewer hikes in 2019 and a heightened sensitivity to incoming data. » VIEW MORE COMMENTARY
Today's Economic Indicators
Indonesia
Monetary Policy
Dec. 2018: 6.0%
Bank Indonesia concluded an incredibly eventful 2018 with a pause. United Kingdom
Retail Sales
Nov. 2018: 3.69%
U.K. retail sales surprised on the upside and grew by 3.6% y/y in November, from a 2.4% rise in October. United Kingdom
Monetary Policy and Minutes
Dec. 2018: 0.75%
The Bank of England didn’t rock the boat in December, as expected; the policy committee unanimously voted to leave the bank rate unchanged at 0.75%. Canada
ADP Canada National Employment Report
Nov. 2018: 39,067
Canadian employment picked up in November. Canada
Earnings, Hours and Employment
Oct. 2018: 2.5%
The Canadian labor market made continued progress in October. Canada
Wholesale Trade
Oct. 2018: 1.0%
Wholesale trade advanced 1% to C$63.8 billion in October, rebounding from the previous month. United States
Jobless Claims
December 15: 214,000
The U.S. labor market is chugging along, as initial claims for unemployment insurance benefits are low. United States
Philadelphia Fed Survey
Dec. 2018: 9.4
Manufacturer sentiment has softened, not surprising given the past appreciation in the U.S. dollar, slowing global economy, trade tensions and domestic supply chain issues. United States
State Personal Income
2018Q3: 1%
State personal income growth remains steady yet unspectacular. Mexico
Retail & Wholesale Sales
Oct. 2018: 3.0%
Mexico’s retail sales advanced a little further in October, although at a lower rate. United States
St. Louis Fed Financial Stress Index
December 14: -0.78
Financial stress increased last week as U.S. equity markets continued their slide. The St. United States
Conference Board Leading Indicators
Nov. 2018: 0.2%
The outlook for the U.S. economy is optimistic. United States
Natural Gas Storage Report
December 14: -141 bil cubic feet
The decline in natural gas inventories was slightly greater than analysts were expecting, which will apply modest upward pressure on prices. Argentina
Retail Sales Index
Oct. 2018: 16.6%
The index that tracks nominal sales at Buenos Aires’ largest shopping centers increased 16.6% y/y in October, down from 17.2% the previous month. Mexico
Monetary Policy
Dec. 2018: 8.25%
The Bank of Mexico tightened monetary conditions further in December given the persistent financial volatility. Japan
Consumer Price Index
Nov. 2018:
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