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(CEP News) - As the global economy continues to stagnate, markets will be paying close attention to what Fed Chairman Ben Bernanke has to say when he speaks on the economy and markets at an event in Washington, D.C. Later in the afternoon, markets will receive the minutes from the Sept. 16 FOMC meeting.
Prior to Bernanke's speech, Minneapolis Federal Reserve President Gary Stern (voter) will be speaking at an event in Chicago. Markets will be very interested to hear what the noted hawk has to say about the current financial crisis. The release of the Sept. 16 FOMC minutes on Tuesday may prove to be of less interest than they usually generate due to recent developments in the financial markets. Nonetheless, they do offer a glimpse of what the Federal Reserve was discussing at the start of the current financial crisis. Markets will also see how consumer credit is functioning within a tighter condition environment. Consumer credit is expected to increase by $5.0 billion in August, an increase from the prior month's $4.6 billion. The U.S. Department of Energy will also release its short-term outlook on crude, diesel and natural gas. The crude outlook is expected to rise 127k barrels while natural gas is forecast to rise 14.49k bcf. 11:00 US Fed's Stern Speaks in Chicago on Financial Shock 11:30 US US to Sell $30B in 79-Day Cash Management Bill 13:00 US Treasury to Sell $25B in 4-Week Bills 13:15 US Bernanke Speaks on Economy, Markets in Washington 14:00 US Fed Releases Minutes from Sept. 16 FOMC Meeting 15:00 US Consumer Credit August Exp: $5.0B Prior: $4.6B 17:00 US ABC Consumer Confidence W/E October 5 Prior: -41 October 7 US DOE Short-Term Crude Outlook October Prior: +127K October 7 US DOE Short-Term Ht Oil Outlook October Prior: +4.12K October 7 US DOE Short-Term Diesel Outlook October Prior: +4.26K October 7 US DOE Short-Term Mogas Outlook October Prior: +3.88K Bcf October 7 US DOE Short-Term NatGas Outlook October Prior: +14.49K Bcf By Steve Stecyk,
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, edited by Nancy Girgis,
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