Translate

Search This Blog

Search Tool




Oct 12, 2015

FRB Speech by Governor Lael Brainard At the "North America's Place in a Changing World Economy," 57th National Association for Business Economics Annual Meeting, Washington, D.C.



Speech

Governor Lael Brainard

At the "North America's Place in a Changing World Economy," 57th National Association for Business Economics Annual Meeting, Washington, D.C.

October 12, 2015

Economic Outlook and Monetary Policy

The will-they-or-won't-they drumbeat has grown louder of late. To remove the suspense, I do not intend to make any calendar-based statements here today. Rather, I would like to give you a sense of the considerations that weigh on both sides of that debate and lay out the case for watching and waiting.1 
The Outlook
Domestic real activity has proven reassuringly resilient. Most notably, the labor market has continued to improve this year, pushing the economy closer to full employment. While monthly nonfarm payroll employment growth looks to have slowed over the past three months to a 167,000 monthly pace, so far this year it has averaged about 200,000. With these gains more than sufficient to absorb trend growth in the labor force, they have led to gradual increases in resource utilization. At 5.1 percent in September, the unemployment rate has declined 1/2 percentage point since December. Alternative broader gauges of unemployment--which include individuals who are marginally attached to the labor force and employees working part-time for economic reasons--have also shown steady improvement this year.

EU Calls on Russia To Halt Airstrikes in Syria: The Guardian | World | The Syria War - October 12, 2015.

theguardian.com

EU calls on Russia to halt airstrikes in Syria

Ian Black
 
The EU has urged Russia to halt its military intervention in Syria, warning that it risks prolonging the four-and-a-half-year conflict and undermining a political process to end it – despite profound disagreement on how to achieve that.
EU foreign ministers meeting in Luxembourg on Monday said the Russian attacks were of “deep concern and must cease immediately”. Federica Mogherini, the union’s foreign policy chief, called the Russian intervention a “gamechanger” that has “some very worrying elements”.
For the first time, ministers also called for the protection of civilians to be an international priority. President Bashar al-Assad bore the greatest responsibility for the 250,000 dead, they said, linking “the systematic targeting of civilians by the regime” to “mass displacements and recruitment to and the flourishing of terrorist groups in Syria”.

WSJ | Forex Closing on October 12, 2015.

The Wall Street Journal Forex Closing
Major Currencies
Monday, October 12, 2015
Last
US$ vs.
Americas in US$ per US$ % chg
Argentina peso 0.1064 9.3961 -0.56
Brazil real 0.2657 3.7639 0.06
Canada dollar 0.7694 1.2998 0.40
Chile peso 0.001478 676.70 0.09
Colombia peso 0.0003490 2864.93 0.17
Ecuador US dollar 1 1 unch
Mexico peso 0.0607 16.4628 0.20
Peru new sol 0.3098 3.2279 0.50
Uruguay peso 0.03434 29.1200 -0.07
Venezuela bolivar 0.1587289 6.3001 unch
 
Asia-Pacific

WSJ | Biggest Decliners Closing on October 12, 2015.

NYSE Biggest Percentage Decliners | Nasdaq | Arca | Composite
Monday, October 12, 2015 - 5:31 pm ET
  Issue(Roll over for charts and headlines) Price Chg % Chg Volume
1 SunCoke Energy (SXC) $7.01 -2.74 -28.10 4,015,756
2 Stone Energy (SGY) 7.18 -1.43 -16.61 3,948,290
3 Unit (UNT) 15.24 -2.63 -14.72 1,971,916
4 Nuverra Environmental Solutions (NES) 1.74 -0.28 -13.86 197,290
5 Bonanza Creek Energy (BCEI) 6.99 -0.98 -12.30 3,507,197
6 Lumber Liquidators Holdings (LL) 16.60 -2.24 -11.89 2,820,849
7 Noranda Aluminum Holding (NOR) 2.27 -0.30 -11.67 112,161
8 Eclipse Resources (ECR) 2.95 -0.38 -11.41 689,927
9 Amira Nature Foods (ANFI) 5.22 -0.65 -11.07 314,798
10 Parker Drilling (PKD) 3.15 -0.39 -11.02 750,580

WSJ | Biggest Gainers Closing on October 12, 2015.

The Wall Street Journal Biggest Gainers Closing
Biggest Gainers
4:31 pm ET 10/12/2015
NYSE
Issue Volume Price Chg % Chg
Entravision Communications (EVC) 1,471,183 $7.80 1.09 16.24
Oil-Dri of America (ODC) 12,051 27.10 3.11 12.96
Genie Energy (GNE) 313,053 13.27 1.18 9.76
Pure Storage Cl A (PSTG) 5,247,156 18.06 1.46 8.80
Container Store Group (TCS) 389,954 12.73 0.83 6.97
Cellcom Israel (CEL) 200,976 6.84 0.44 6.87
Banco Macro ADR (BMA) 189,461 46.30 2.95 6.81
BBVA Banco Frances ADR (BFR) 499,426 17.93 1.13 6.73
Pampa Energia ADR (PAM) 121,922 17.00 1.00 6.25
Leju Holdings ADR (LEJU) 250,331 6.76 0.39 6.12
China Unicom (Hong Kong) ADR (CHU) 564,165 13.45 0.71 5.57
Country Style Cooking Restaurant Chain ADR (CCSC) 3,932 4.67 0.24 5.42
Employers Holdings (EIG) 86,556 22.74 1.14 5.28
Civitas Solutions (CIVI) 96,243 24.00 1.15 5.03
Cheetah Mobile ADR (CMCM) 801,698 17.85 0.84 4.94
500.com ADR (WBAI) 373,428 19.56 0.92 4.94
Adeptus Health (ADPT) 368,933 79.46 3.65 4.81
Ciber (CBR) 98,667 3.56 0.16 4.71
Eros International (EROS) 748,968 32.18 1.43 4.65
Global Partners (GLP) 91,008 32.31 1.42 4.60
Teladoc (TDOC) 468,226 18.03 0.78 4.52
Universal Insurance Holdings (UVE) 1,082,060 34.58 1.33 4.00
Monster Worldwide (MWW) 1,451,133 7.57 0.29 3.98
Startek (SRT) 5,602 4.49 0.17 3.94
Park Electrochemical (PKE) 77,524 17.47 0.66 3.93
 
Nasdaq

WSJ | Most Actives Closing on October 12, 2015.

The Wall Street Journal Most Actives Closing
Most Active Stocks by Volume
4:31 pm ET 10/12/2015
NYSE
Issue Volume Price Chg % Chg
EMC (EMC) 117,534,752 $28.35 0.49 1.76
Bank of America (BAC) 50,420,841 15.52 -0.06 -0.39
Alcoa (AA) 31,143,942 10.08 -0.18 -1.75
Twitter (TWTR) 30,316,888 28.75 -2.10 -6.81
Freeport-McMoRan (FCX) 30,135,528 12.94 -0.55 -4.08
Petroleo Brasileiro ADR (PBR) 28,784,425 5.42 -0.25 -4.41
Eli Lilly (LLY) 26,369,392 79.44 -6.70 -7.78
General Electric (GE) 24,977,224 28.09 0.02 0.07
SunEdison (SUNE) 20,541,270 8.98 -0.27 -2.92
Barrick Gold (ABX) 19,876,796 7.41 -0.20 -2.63
VMware (VMW) 17,846,979 72.27 -6.38 -8.11
Kinross Gold (KGC) 17,240,082 2.04 -0.20 -8.93
Ambev ADR (ABEV) 17,122,398 5.10 -0.12 -2.30
Magnum Hunter Resources (MHR) 15,654,081 0.37 -0.22 -37.79
Cemex ADR (CX) 15,577,670 7.71 -0.16 -2.03
Chesapeake Energy (CHK) 15,533,966 8.24 -0.64 -7.21
Alibaba Group Holding ADR (BABA) 15,198,484 70.30 1.59 2.31
SandRidge Energy (SD) 15,012,217 0.44 -0.03 -5.53
Vale ADR (VALE) 14,875,408 5.25 -0.23 -4.20
Pfizer (PFE) 14,672,021 33.22 -0.02 -0.06
Southwestern Energy (SWN) 14,621,051 12.03 -0.77 -6.02
Ford Motor (F) 14,295,359 14.98 0.01 0.07
AT&T (T) 14,090,461 33.30 0.16 0.48
Marathon Oil (MRO) 13,690,932 18.96 -0.63 -3.22
Yamana Gold (AUY) 13,287,815 2.27 -0.22 -8.84
 
Nasdaq