THIS WEEK, Nov. 16-20
THIS WEEK, Nov. 16-20
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This week should offer both some important reads on the state of the economic recovery -- and what policymakers think of the road ahead.
MONDAY
Bernanke to share economic outlook
Ben S. Bernanke has been quiet lately, at least compared to earlier in the year when it felt like he testified on Capitol Hill or give a high-profile speech once or twice a week. His speeches and testimony of late has been focused on regulatory reform rather than the economy.
That changes Monday, when Bernanke is scheduled to give a speech on the economic outlook. Plenty of other Fed leaders have shared their own views last week, arguing principally that the recovery is likely to continue in 2010 but likely to be weak. Now Bernanke gets the chance to explain where he comes down. Expect him to mix optimism that a steady recovery has begun with acknowledgment that the job market remains very weak and that there are major factors weighing on the recovery.
Also Monday, the Commerce Department plans to report on October retail sales, giving a sense of whether consumers kept up their shopping as fall began. Economists expect a 0.9 percent jump, which would be a good sign that the economic expansion that kicked off in the third quarter is continuing in the fourth.
TUESDAY
Fed to release report on production
Can industrial production continue growing, as it has since this summer? In Tuesday's Fed report, forecasters expect an 0.4 percent rise, which, while slower than September's increase, would indicate a manufacturing sector that continues to crank up its output.
WEDNESDAY
Price index is likely to rise
The Labor Department will release the consumer price index for October, which is expected to show continued modest inflation; an 0.2 percent uptick in consumer prices is forecast.
-- Neil Irwin
