Top stories: Rachel Maddow releases Donald Trump’s tax returns. Trump’s second travel ban struck down again by 9th Circuit Judge in Hawaii, citing Anderson Cooper interview and no legal basis.
Top economic story of the week: Fed raises rates as does People’ Bank of China, a seemingly calibrated move hinted at during the G-20 summit a year ago.
Janet Yellen can’t explain why the Fed is raising rates eight years in to a “recovery” when the Atlanta Fed is showing scant 0.9% GDP growth in their first quarter 2017 projections. Ms. Yellen calls near real time data “noisy” but insists on her listeners believe that her own year and two year projects are “solid”.
Watch Yellen Ramble On:
Gold and silver.
Gold closed last week at $1204.50 an ounce and closed this week at $1228.80 + 2.0%
Silver closed last week at $17.01 an ounce and closed this week at $17.37 +2.1%
Business Inventories: 0.3%, Exp. 0.3%
Empire Fed 16.4, Exp. 15
CPI Feb 2.7% Y/Y, Exp. 2.7%
Retail Sales 0.1%, Exp. 0.1%
MBA Mortgage Applications 3.1% vs 3.3% Last
Purchases 2.4%, vs 1.7% last
Refis 4.1%, vs 5.2% last
Atlanta GDP Now 1st quarter estimate reduced to 0.9%
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