U.S. Week Ahead: Bernanke to face the heat on the Hill
Friday, July 12, 2013 - 02:41
July 12 - Fed Chair Ben Bernanke will face members of the U.S. House of Representatives and Senate on Wednesday and Thursday, as part of the Fed’s semi-annual report on monetary policy.
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Here's what he'll be talking about half and the week at number three the economy. You're retail sales and housing starts seem to be moving in a positive direction. We'll know for sure by Wednesday according to IF -- solid chain store sales growth in consumer confidence and consumer credit. -- June retail sales up a solid point 8% from point 6% in the month. Good humor and feeling better about the economy despite tax increases. And it's by an interest rates housing starts are expected to jump to about 900000. Units. Under 141000. And it -- here last year. It is also driving up building material and furniture sales. Also keep an eye out for Consumer Price Index -- on Tuesday the Fed's Beige Book on Wednesday. And -- bad manufacturing index on -- -- Next we've got lots of earnings next week first got my angels for a big banks report Citigroup Goldman Sachs Bank of America in -- game. For the second quarter at amp 500 earnings are expected to grow just two point 6%. According to Thomson Reuters estimates. The bright side for the second half of the year Q3 growth projections are at eight point 4%. And Q before it even higher at twelve point 8%. On the tax side we got Yahoo! eBay Google and Microsoft. We'll share it had hit -- -- in recent months with investors focusing on revenue from mobile. Will other efforts that it's Motorola phone business and it hurt the game console. Well also be in the spotlight when -- reports on Thursday. Other technology companies reporting earnings next week include IBM and Intel on Wednesday and right then on Thursday. And your main event that chair Ben Bernanke's today testimony. Big bad bad apple testified before how. The committee Wednesday. And the senate banking committee Thursday as part of the Fed's semi annual report on monetary policy. Analysts will be listening closely especially after this week's release of the lead -- minute. Bernanke's comments suggesting the Fed will keep interest rates low for the foreseeable future you can watch the testimony live on insider. Why is immigration reform lately and how we take you inside the minds of conservative Republicans who do you reeling in the senate bill. Watch this video and more at Reuters dot com slash -- TV. And follow us on Twitter at Reuters Insider I'm putting on this is Reuters.
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