Existing Home Sales, Federal Open Market Committee Statement

by Calculated risk on 9/20/2022 09:00:00 PM

Wednesday:
• At 7:00 AM ET, the Mortgage Bankers Association (MBA) will release results for Index of mortgage applications.

• 10:00 am, Existing Home Sales for August from the National Association of Realtors (NAR). The consensus is 4.70 million SAAR, down from 4.81 million in July.

• 2:00 pm, Federal Open Market Committee meeting announcement. The FOMC is expected to raise the federal funds rate by 75 basis points at this meeting.

• 2:00 pm, FOMC Outlook This will include FOMC participants’ expectations of the appropriate target federal funds rate along with the quarterly economic outlook.

• 2:30 pm, Federal Reserve Chairman Jerome Powell He holds a press conference following the FOMC announcement.

On COVID (focus on hospitalization and mortality):

COVID metrics
Currently week
Ago
Goal
New cases per day2 54152 69550 50001
in the hospital2 25644 28773 ≤ 30001
daily deaths2 355 374 ≤501
1My goals are to stop daily posts,
27 days average for cases, current patients, and deaths
🚩 An average increase of 7 days per week in cases, hospital stays, and deaths

✅ The goal has been achieved.


COVID-19 deaths per dayClick on the chart for a larger picture.

This graph shows the daily average (the bars) and the 7-day average (the line) of reported deaths.

Average daily deaths fell to the lowest level in July 2021 at 214 cases per day.

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