The Day Ahead: Wednesday

November 3, 2009

It’s D-day at the Fed, as Chairman Ben Benrnake (pictured) and the Federal Open Market Committee unveil their latest policy decision. Virtually no-one is expecting a rate move, but, rather, the focus will be on language and how the Fed weighs recent upbeat economic data against fears that a burgeoning recovery is on shaky ground.

Also in the driver’s seat is Chrysler CEO Sergio Marchionne, who is expected to spell out plans for reviving the flat-lining automaker.

Other highlights:

* Cisco Systems leads the earnings parade with quarterly numbers that may reflect a recovery in tech spending. Comcast, Qualcomm and News Corp are also on the docket.

* Data highlights include the ISM’s non-manufacturing numbers and readings on the employment picture from Challenger and ADP.

* Reuters is also hosting an Auto Summit in Detroit and Paris. The day’s speakers include Ford President of the Americas Mark Fields; AutoNation CEO Mike Jackson; CAW President Ken Lewenza, Robert Bosch CEO Peter Marks; Honda Motor Senior Vice President John Mendel and DBT President Herve Borgoltz.

2 comments

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Is it time for the FED to go back to being what it was intended for? To control and stabilze capital flows in and through the country not inflation by setting rates with a coin toss and no model. History shows that bull markets actually are during higher rates of interest and bear during low interest rates.It’s Congress that should be regulated & proven to be the culprits because of thier lust for spending. They are the culprits of inflation. No term limits are a joke and amke for professional class deciding the issues without a model or ever checking history is a joke.Moentize the debt and get over it. The interest alone is killing us and will destroy our country.

Posted by goldbug | Report as abusive

It is obvious that the FED will keep the same rate until next year!