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Overview: Fri, June 05

Daily Agenda

Time Indicator/Event Comment
08:30Nonfarm payrollsSlight deceleration in May but still a solid increase
15:00Consumer creditApril data

Federal Reserve and the Overnight Market

US Economy

This Week's MMO

  • MMO for June 1, 2026

     

    Editor’s Note.  Due to staff schedules, this week’s newsletter is limited to our regular Treasury auction and economic indicator calendars.  We will return to our regular format next week.

Hawks and Doves (and Owls

William J. McDonough

Mon, November 05, 2001

I entered the weekend with a view that we ought to ease by 25 basis points and over the course of the weekend changed my opinion. Somewhat symbolically I have a pond behind my house in Westchester County and there are a lot of fish in the pond. Therefore, I have two hawks, and the hawks enjoy fishing in the pond. This is a true story, though what will follow is not true. [Laughter] This past weekend--now we get into mythology--one of the hawks miraculously turned into a beautiful white dove. I was very confused until I realized that what was even more miraculous was that the dove spoke with a southern accent! [Laughter] And that convinced me even more that the 50 basis point move was appropriate.

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