Federal Reserve speakers due Tuesday, 15 November 2022 – Harker and Cook

1400 GMT brings Federal Reserve Bank of Philadelphia President Patrick Harker

  • speaks on the economic outlook before the Global Interdependence Center 40th Annual Monetary & Trade Conference and Global Citizen Award Ceremony

1400 GMT also brings Federal Reserve Board Governor Lisa Cook

  • participates in virtual discussion, “Post-Covid Challenges for Women and Underrepresented Groups” before the Diversity and Inclusion in Economics, Finance, and Central Banking Conference

1500 GMT Federal Reserve Vice Chair for Supervision Michael Barr

  • testifies on “Oversight of Financial Regulators: A Strong Banking and Credit Union System for Main Street” before the Senate Banking Committee, in Washington
  • Barr spoke earlier today: Fed’s Barr says inflation is far too high

It looks like Harker is more likely to express views on his economic and policy outlook given the venues and topics for these speeches.

Philadelphia Fed Pres. Harker

Philadelphia Fed Pres. Patrick Harker

China October data – retail sales fall y/y, industrial production up

Chinese economic activity data for October 2022. Both sales and output missed expectations.

china otco data 15 November 2022

October retail sales fell y/y. They last fell back in May when Shanghai was locked down. Rolling COVID restrictions and a collapsing property market were negative influences on this data for October. Yesterday I posted on moves from Chinese authorities to address COVID and property woes and boost the economy

Other data released included:

Surveyed Jobless Rate 5.5% y/y

  • expected 5.5%, prior 5.5%

Property Investment YTD -8.8% y/y

  • expected -8.3%, prior -8.0%

Fixed Assets Ex-Rural +5.8% YTD y/y, also a miss

  • expected 5.9%, prior prev 5.9%
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