FORESIGHT
More Anecdotes, Fewer Numbers
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After a hectic week of economic news, it's time for a breather. This week should be far less busy than last week's combination of inflation data and Federal Reserve Chairman Ben S. Bernanke's testimony on Capitol Hill. Instead, we get a week highlighted by a report with essentially no numbers in it at all: The "beige book," the Fed's compilation of anecdotal reports about business conditions around the country, will come out Wednesday. Expect reports of continued softness around the nation and intense upward pressure on prices. Thursday, there will be a reading on existing-home sales, and Friday we get data on new-home sales. Both are likely to show that the real estate market remained in disarray in June.
-- Neil Irwin
