US: Focus on Yellen - TDS
|Analysts at TDS note that Fed Chair Yellen will deliver the keynote address at the NABE Annual Conference in Cleveland, Ohio and Yellen’s comments will focus on inflation, uncertainty and monetary policy and she is scheduled to speak at 12:45 ET, after which she will answer questions from the audience.
Key Quotes
“Cleveland Fed President Loretta Mester (non-voter) will moderate a panel on the global outlook at 9:30 ET as part of the same conference. Governor Brainard will discuss disparities in the labor market during a 10:30 ET speech while Atlanta Fed President Bostic (non-voter) will speak about the economy and monetary policy at 11:30 ET. Bostic was named president of the Atlanta Fed in June and this will be his first speech since taking over from Dennis Lockhart.”
“While most of the focus will be on Yellen and other Fed speakers, we will also see the release of consumer confidence for September and August new home sales later today. The market expects home sales to rebound by 2.5% m/m (after falling nearly 10% the prior month) to an annualized 585k. Meanwhile, markets expect consumer confidence to edge lower in September, with the consensus calling for a decline to 120 from 122.9.”
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