Weekly Economic Update: June 19 – June 23, 2017
CHART OF THE WEEK
Congratulations to the Democrats on their win in the 2017 Congressional Baseball Game. This week’s chart shows the winning team’s (blue is Democratic, red is Republican) margin of victory, since the first game in 1909.
JEC is grateful to the United States Capitol Police and other first responders for their heroism during the tragic shooting at the baseball practice on June 14 and salutes both teams for their sportsmanship, persistence, and charitable spirit.
LAST WEEK
News & Commentary Weekly Highlights
Wall Street Journal: Donald Trump Signs Order Seeking to Expand Apprenticeship Programs
Business Insider: Here's the Fed's plan to unwind its massive $4.5 trillion balance sheet
E21: The Fed Needs Only One Rule
Wall Street Journal: Google Faces Record EU Antitrust Fine
Top Economic Indicator Highlights
Consumer Price Index (April, data reported here as percentage change from 12 months ago)
Core CPI (excludes food and energy) May: 1.7% April: 1.9% March: 2.0%
Headline CPI May: 1.9% April: 2.2% March: 2.4%
Noteworthy: While the Federal Reserve uses a broader measure of inflation (the personal consumption expenditures price index) to determine its goal of maintaining 2% average inflation, inflation as measured by the CPI continues to slow. If this trend continues, it diminishes the likelihood of additional Fed rate hikes like the one it announced last week.
JEC Releases
Four Takeaways on Obamacare’s Collapsing Enrollment
THIS WEEK
Upcoming Economic Data and Events
Monday
No releases
Tuesday
Philly Fed Non-Manufacturing Survey (8:30am)
Wednesday
Existing Home Sales (10:00am)
Thursday
Composite Indexes (10:00am)
Friday
New Residential Sales (10:00am)
