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  • Mon, Nov 23 2020
  • 3:47 PM » Biden chooses former Fed Chair Janet Yellen to be Treasury secretary
    Published Mon, Nov 23 2020 3:47 PM by CNBC
    President-elect Joe Biden has chosen former Federal Reserve Chair Janet Yellen as Treasury secretary, a historic decision that could make her the first woman to lead the department, according to people familiar with the matter.
  • 1:22 PM » Chicago Fed National Activity "Index Suggests Economic Growth Increased in October"
    Published Mon, Nov 23 2020 1:22 PM by Calculated Risk Blog
    Note: This is a composite index of other data. From the Chicago Fed: Index Suggests Economic Growth Increased in October Led by improvements in production-related indicators, the Chicago Fed National Activity Index (CFNAI) increased to +0.83 in October from +0.32 in September. Three of the four broad categories of indicators used to construct the index made positive contributions in October, and three of the four categories increased from September. The index's three-month moving average, CFNAI-MA3, fell to +0.75 in October from +1.37 in September. emphasis added This graph from the Chicago Fed shows the Chicago Fed National Activity Index by category. Click on graph for larger image. According to the Chicago Fed: The index is a weighted average of 85 indicators of growth in national economic activity drawn from four broad categories of data: 1) production and income; 2) employment, unemployment, and hours; 3) personal consumption and housing; and 4) sales, orders, and inventories. ... A zero value for the monthly index has been associated with the national economy expanding at its historical trend (average) rate of growth; negative values with below-average growth (in standard deviation units); and positive values with above-average growth.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 11:48 AM » Economists are calling for more stimulus checks. Here's where assistance plans stand
    Published Mon, Nov 23 2020 11:48 AM by CNBC
    As coronavirus stimulus aid has stalled, one group of prominent economists is calling for a second set of stimulus checks to help ease Americans' burden.
  • 11:48 AM » Regeneron will provide 300,000 doses of Covid treatment for U.S. by early January, CEO Schleifer says
    Published Mon, Nov 23 2020 11:48 AM by CNBC
    Regeneron will provide the U.S. with 300,000 doses of its newly authorized Covid-19 antibody treatment by early January, CEO Dr. Leonard Schleifer said.
  • 11:17 AM » Retail trade group forecasts holiday sales rising 3.6% to 5.2%
    Published Mon, Nov 23 2020 11:17 AM by CNBC
    The forecast this year from the National Retail Federation was delayed by the uncertainty stemming from the coronavirus pandemic.
  • 9:56 AM » Slab Foundations Are More Common in New Single-family Homes
    Published Mon, Nov 23 2020 9:56 AM by eyeonhousing.org
    NAHB analysis of the Survey of Construction (SOC) shows that 63.2% of all new single-family started in 2019 were built on slab foundations, followed by 22.6% with a full/partial basement and 13.0% with a crawl space. The gap between slab and full/partial basement foundation adoption rates is growing: the share of new homes built on slabs steadily increased from 46.0%... Read More › The post Slab Foundations Are More Common in New Single-family Homes first appeared on Eye On Housing .
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 9:10 AM » Custom Home Building: 3Q20 Data
    Published Mon, Nov 23 2020 9:10 AM by eyeonhousing.org
    NAHB's analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates custom home building lagged the overall single-family construction market in the third quarter of 2020. There were 52,000 total custom building starts during the third quarter, a 7% decline compared to the third quarter of 2019. Over the last four quarters, custom housing starts totaled... Read More › The post Custom Home Building: 3Q20 Data first appeared on Eye On Housing .
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 8:27 AM » Black Friday Sales, Consumer Confidence: What to know in the week ahead
    Published Mon, Nov 23 2020 8:27 AM by news.google.com
    Black Friday Sales, Consumer Confidence: What to know in the week ahead    Yahoo Finance Kohl's just dropped its Black Friday 2020 week deals and the savings are insane    USA TODAY Black Friday 2020: The tech deals we're expecting to see    Finder Australia What will a pandemic Black Friday look like? And when will stores open in Modesto?    Modesto Bee Target's final round of Black Friday 2020 deals just dropped-shop our top picks    USA TODAY View Full Coverage on Google News
    Click Here to Read the Full Article

    Source: news.google.com
  • 8:27 AM » Treasury yields climb amid further Covid-19 vaccine developments
    Published Mon, Nov 23 2020 8:27 AM by CNBC
    Treasury yields rose after news of an effective coronavirus vaccine from AstraZeneca and hopes that people in the U.S. could start being immunized in December.
  • 8:08 AM » Two Key Economic Dates in December
    Published Mon, Nov 23 2020 8:08 AM by Calculated Risk Blog
    December 12th: Possible Government shutdown. From the WaPo: White House chief of staff 'can't guarantee' U.S. government will avert December shutdown Congress and the White House have until Dec. 11 to approve new spending legislation to prevent the federal government from shutting down in the middle of a pandemic and amid a surge in coronavirus cases. Meadows said he was hopeful an agreement would be reached but did not rule out that an impasse. There has already been two government shutdowns during President Trump's four years in office, one lasting more than a month. It is possible that there will be a shutdown from December 12th through January 20th. This would eclipse the previous longest government shutdown of 35 days in 2018-2019. December 26th: End of CARES Act provisions. There are two COVID related unemployment programs that end on December 26th. The first is the Pandemic Unemployment Assistance (PUA) Program. This is a special program that provides up to 39 weeks of benefits for business owners, self-employed, independent contractors or gig workers not receiving other unemployment insurance. PUA is not payable for any week of unemployment ending after December 31, 2020. Accordingly, in states where the week of unemployment ends on a Saturday, the last week that PUA may be paid is the week ending December 26, 2020. For states where the week of unemployment ends on a Sunday, the last week that PUA is payable is the week ending December 27, 2020. As of October 31st, in the most recent report (lags weekly claims), there were 8.7 million receiving PUA benefits (there are questions about these numbers). The second is the Pandemic Emergency Unemployment Compensation (PEUC) Program. This program "provides up to 13 additional weeks of benefits to individuals who have exhausted their regular unemployment compensation (UC) entitlement". Just like the PUA, this program ends on December 26th. There are currently 4.4 million people receiving these extended...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
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