Tag Archives: Federal Reserve System

On This Day In History

15 Aug

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President Richard M. Nixon speaks on the telep...

// Wikipedia

40 years ago, following the advice of Milton Friedman, President Richard Nixon ends the Gold Standard and terminates the Bretton Woods system.

Source: The Economist.

Financial Calendar – Week 26

3 Jul

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Independence Day July 4th "Victory."

// The U.S. National Archives via Flickr.

Monday, July 4th:

Independence Day: All U.S. markets are closed.

Tuesday, July 5th:

10:00 AM ET: Manufacturers’ Shipments, Inventories and Orders for May.

Wednesday, July 6th:

7:00 AM: The Mortgage Bankers Association (MBA) will release the mortgage purchase applications index.

10:00 AM: ISM non-Manufacturing Index for June.

Thursday, July 7th:

8:15 AM: The ADP Employment Report for June.

8:30 AM: The initial weekly unemployment claims report will be released.

Friday, July 8th:

8:30 AM: Employment Report for June.

10:00 AM: Monthly Wholesale Trade: Sales and Inventories for May.

3:00 PM: Consumer Credit for May.

Transfer To The Calculated Risk Blog For Charts, Estimates And Details On The Schedule For Week Of July 3rd.

$1 Billion That Nobody Wants

28 Jun

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Coins before Euro - European Coins In Circulation

//Wikipedia

From NPR’s Planet Money:

«Politicians in Washington hardly let a few minutes go by without mentioning how broke the government is. So, it’s a little surprising that they’ve created a stash of more than $1 billion that almost no one wants.

Unused dollar coins have been quietly piling up in Federal Reserve vaults in breathtaking numbers, thanks to a government program that has required their production since 2007.

And even though the neglected mountain of money recently grew past the $1 billion mark, the U.S. Mint will keep making more and more of the coins under a congressional mandate.»

Read The Stories Here And Here.

Financial Calendar – Week 26

26 Jun

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Worthington Motor Sales: May 1947

Image by dok1 via Flickr.

Key Data For The Week Ahead:

Monday: Personal Income And Outlays For May.

Tuesday: Case-Shiller House Prices For April.

Wednesday: Pending Home Sales Index for May.

Thursday: The Initial Weekly Unemployment Claims Report, Chicago Purchasing Managers Index for June.

Friday: ISM Manufacturing Index, Auto Sales.

The Rest Of The Busy Economic Schedule For Week Of June 26th.

Financial Calendar – Week 25

19 Jun

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The Key Economic Events Of The Week:

Ben Bernanke dollar

Bernanke Dollar // Gage Skidmore, Flickr.

Tuesday:  Existing Home Sales, And The Fed’s FOMC Hosts A 2 Day Meeting.

Wednesday: Ben Bernanke Holds A Press Conference Following The FOMC Announcement.

Thursday: New Home Sales.

Friday: Durable Goods, And The Final Estimate For Q1 GDP.

Full Schedule For Week Of June 19th.

Better Luck Next Time

14 Jun

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The cyber-group «Anonymous» calls for Federal Reserve Chairman Ben Bernanke’s resignation. In addition, the group would seem to demand the break up of the Federal Reserve and other large banking institutions. The anonymous group allegedly claims that the Federal Reserve is guilty of crimes against humanity, and encourages protests, starting on June 14th, until demands are met.

Financial Calendar – Week 23

5 Jun
President Barack Obama confers with Federal Re...

President Obama confers with Fed Chairman, Ben Bernanke, following their meeting at the White House // Wikipedia

The Week’s Key Economic Reports:

Tuesday: Fed Chairman, Ben Bernanke, Is Set To Speak.

Wednesday: Fed Reveals Their Beige Book.

Thursday: The Trade Balance Report.

Details From Calculated Risk.

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