Market Comment
Week of February 19, 2007

"Cautious Float" is the current interest rate recommendation.

Looking Ahead

Economic Indicator

Release Date and Time

Forecast

Analysis

President's Day

Monday
February 19

None

Markets closed.

January CPI

Wednesday
February 21
8:30 a.m. ET

.1%

Consumer Price Index (CPI) - The market considers this to be the primary representation of inflation. It is calculated by taking a fixed group of items (a “basket” of goods) including electricity, transportation, food, and housing, and calculating the overall change in cost from one month to the next.

January Core CPI

Wednesday
February 21
8:30 a.m. ET

.2%

CPI excluding food and energy.

Leading Economic Indicators

Wednesday
February 21
10:00 a.m. ET

.3%

A composite index (1992 = 100) of ten economic indicators designed to predict economic activity six to nine months in future.

January 31 FOMC Meeting Minutes

Wednesday
February 21
2:00 p.m. ET

None

The release of the Federal Open Market Committee (FOMC) meeting minutes generally occurs about three weeks after the Federal Reserve meeting. These meeting minutes provide additional context to the Committee's decisions.

Weekly Jobless Claims

Thursday
February 22
8:30 a.m. ET

325K

Also known as initial jobless claims, this is the number of people who file for unemployment each week. Certain factors such as weather or time of year can sometimes skew this figure, so its impact on the market is usually minimal.

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