Wednesday: Yellen Speech, ADP Employment, Beige Book

An excerpt from Tim Duy at Fed Watch: The Final Countdown Bottom Line: Just how data-dependent is the Fed when it comes to December? Not much, I think. They are likely just looking for evidence that basic labor market trends remain intact to justify pulling the pin on higher rates. Absent any sharp financial disruptions or disastrous data, it looks like we are on the final countdown to the first rate hike of this cycle . Beyond that, they will proceed very cautiously; this is especially the case if they don't see evidence of still-declining slack in the form of rising wages and inflation. And ......(read more)

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