IRS tax filing season opens January 27
The IRS has announced that the 2025 tax filling season for tax year 2024 will open on Monday, January 27. The tax deadline is Tuesday, April 15. The late start of the 2025 tax filing [...]
January 2025
High points for economic data scheduled for January 13 week
There are three reports in the January 13 week that are likely to stand out, especially in the context of the upcoming FOMC meeting on January 28-29. The numbers available for the labor market through [...]
Barr leaving Vice Chair for Supervision job, but not Governor
On Monday, January 6, the Fed announced that Vice Chair for Supervision Michael Barr is stepping down from that appointment but will remain on the Board of Governors.Barr was confirmed as a Governor on July [...]
High points for economic data scheduled for January 6 week
Activity begins to pick up again after the holiday period. The focus will shift to the upcoming data reports on the labor market and inflation, and how these will affect the outlook for monetary policy.The [...]
December 2024
High points for economic data scheduled for December 30 week
The New Year’s Day observance sits in the middle of the December 30 week. This means some disruptions to normal release patterns. There is an early close for bond markets on Tuesday, and a full [...]
High points for economic data scheduled for December 23 and 30 weeks
With Christmas, Hanukkah, and other holiday observances dominating the calendar for the next two weeks, there is very little on the US economic data schedule that will demand attention. Most of the numbers will put [...]
Global economy ending 2025 much as expected
Econoday’s Relative Economic Performance Index (RPI) edged up to exactly zero last week, showing recent global economic activity matching market forecasts. However, within the mix, China continues to underperform alongside Canada and Switzerland and the [...]
Underperforming global economy justifies interest rate cuts
Econoday’s Relative Economic Performance Index (RPI) closed out last week at minus 4. While not significantly below zero, this extended its unbroken run of sub-zero readings to three weeks and, with the RPI-P at minus [...]
High points for economic data scheduled for December 16 week
The FOMC meets on Tuesday and Wednesday in the December 16 week with the FOMC statement and update to the quarterly summary of economic projections (SEP) expected at 14:00 ET on Wednesday. Chair Jerome Powell [...]
December ECB meeting preview: expected to cut rates by 0.25% points
The European Central Bank (ECB) is anticipated to cut its key deposit rate by 0.25 percentage points at Thursday’s announcement, bringing the rate to 3.00 percent. This aligns with the ECB's broader strategy to achieve [...]