FMOC April 26-27 Meeting and Chances of a Change in Interest Rates-neutral
News today in US print edition of the Wall Street Journal that durable-goods orders fell a seasonally adjusted 2.8% in February. Manufacturing, a smaller part of the US economy overall than for many other advanced economies, shows signs of slowing.
January’s orders had been originally published at 4.7%, and were revised down to 4.2%. So February’s could well be a natural rebalance after a very high first period. It may not be bad news overall but we need other data to qualify this confidence.