UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Wed. Oct. 20 @ 2:00 pm ET - Beige Book Report
* Tues. Oct. 26 @ 10:00 am ET - CB Consumer Confidence
* Fri. Oct. 29 @ 8:30 am ET - Core PCE Price Index m/m Data
* Wed. Nov. 3 @ 2:00 pm ET - FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
* Fri. Nov. 5 @ 8:30 am ET - Employment Data
* Tues. Nov. 9 @ 8:30 am ET - PPI m/m & Core PPI m/m Data
* Wed. Nov. 10 @ 8:30 am ET - CPI m/m & Core CPI m/m Data
* Fri. Nov. 12 @ 10:00 am ET - Prelim. UoM Consumer Sentiment
* Fri. Nov. 12 @ 10:00 am ET - Prelim. UoM Inflation Expectations
* Tues. Nov. 16 @ 8:30 am ET - Retail Sales & Core Retail Sales Data
* Wed. Nov. 24 @ 2:00 pm ET - FOMC Meeting Minutes
*** CLICK HERE for link to Economic Calendars for all upcoming events.
Tuesday, February 26, 2013
More Bank Cuts Disprove Fed's Assertions on Job Creation
There have also been mass job cuts at a multitude of other banks, such as 11,000 announced at Citigroup in December 2012 (on top of 96,500 job cuts already announced from 2007 to 2011, as reported in this Reuters article) and 16,000 at Bank of America, as I wrote about in this post of September 20, 2012.
Presumably the Banks, who are the first beneficiaries of the Fed's monetary policy, do not support the Fed's goal...makes me wonder, who does support it and whether or not it's actually working, despite what data says about the mild drop, thus far, in unemployment.
This UPDATE February 27th from Reuters shows even more Bank job cuts to come: