Employment Data

Interesting news. The employment data are particularly encouraging since there has been so little good news on that front. This clearly does not mean a turn around in the labor market, but it is nice to get some less bad news. The Industrial Production numbers also bode well for economic growth in the third quarter. The retails sales data are also encouraging. All in all, a pretty good couple of days.

Fed's Decision to Leave Rates Unchanged

Interesting news. Not much fuss about the Fed’s decision to leave rates unchanged, initial claims for unemployment declined, surprising some analysts, resale home purchases are down but housing prices were up slightly earlier in the week. Oil prices declined in reaction to “over supply.” A great way to teach supply and demand is to have students follow oil prices over the semester and have them explain why they move the way they do.

http://money.cnn.com/news/briefing/index.html