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Wednesday: Fed Chair Powell Testimony, ADP Employment, Beige Book

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by Calculated Risk on 3/01/2022 09:37:00 PM

Wednesday:
o At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

o At 8:15 AM, The ADP Employment Report for February. This report is for private payrolls only (no government). The consensus is for 320,000 payroll jobs added in February, up from 301,000 lost in January.

o At 10:00 AM, Testimony, Fed Chair Jerome Powell, Semiannual Monetary Policy Report to the Congress, Before the Committee on Financial Services, U.S. House of Representatives

o At 2:00 PM, the Federal Reserve Beige Book, an informal review by the Federal Reserve Banks of current economic conditions in their Districts.

On COVID (focus on hospitalizations and deaths):

COVID MetricsNowWeek
AgoGoalPercent fully Vaccinated65.0%—>=70.0%1Fully Vaccinated (millions)215.7—>=2321New Cases per Day368,48080,815<=5,0002Hospitalized341,89859,829<=3,0002Deaths per Day3?1,8321,686<=5021 Minimum to achieve “herd immunity” (estimated between 70% and 85%).
2my goals to stop daily posts,
37-day average for Cases, Currently Hospitalized, and Deaths
? Increasing 7-day average week-over-week for Cases, Hospitalized, and Deaths

? Goal met.

Click on graph for larger image.

This graph shows the daily (columns) and 7-day average (line) of deaths reported.New cases and hospitalizations are declining.

February Vehicles Sales decreased to 14.07 million SAAR

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