|09:00||Logan (FOMC non-voter)||Delivers welcoming remarks at Atlanta Fed event|
|09:00||Williams (FOMC voter)||Delivers opening and closing remarks at workplace culture event|
|09:15||Mester (FOMC voter)||At Chicago Fed payments conference|
|10:00||JOLTS openings||Just a modest decline expected in August|
|10:00||Factory orders||Marginal drop in August|
|11:00||4-, 8- and 17-week bill announcement||No changes expected|
|11:30||Year-bill auction||$34 billion offering|
|11:45||Jefferson (FOMC voter)||Discusses impact of technology on post-pandemic economy|
|13:00||Daly (FOMC non-voter)||Takes part in moderated Q&A session|
The August JOLTS report is due at 10:00 this morning.
One of the more eye-popping details in the Fed’s latest H.4.1 report was the deterioration in the Fed’s net income. After reporting weekly net losses averaging just $0.2 billion in the first three weeks of September, the Fed piled up $1.5 billion of red ink in the week of September 28. The latest weekly deficit was inflated by technical factors to some degree but is a sign of things to come. This week’s MMO discusses various technical issues related to the Fed’s reporting of its weekly net operating losses.