Consumer Confidence is up higher than anticipated, but lower than last month’s survey, indicating that economists are not quite as optimistic as retail shoppers. So either the experts know something that we don’t know, or “retail therapy” is doing its job keeping the customer satisfied.
The Case-Shiller 20 City Home Price Index shows that home values continue the steady march upward. The 5.2% year-over-year gain is just shy of last month’s 5.4% reading.
Tomorrow’s Monetary Policy statement read at the conclusion of the Fed meeting is what is really captivating the everybody’s attention right now. Nobody expects a rate increase tomorrow, but the tone of the message will certainly be scrutinized to ascertain the anticipated timing of when rates will come up. Where several countries are dealing with negative interest rates, I am not sure that we’ll see a hike anytime too soon by the Fed.