Harvey's aftermath and the impact on the economy
WEEKLY MARKET COMMENTARY |
The major focus in the week ahead will include further estimates of damage and lost economic activity in Houston following the catastrophe along the Gulf Coast. In addition, we’ll see the beginning of the U.S. legislative session that includes only 12 calendar days on the Congressional schedule to address that crisis, lift the debt ceiling, renew the National Flood Insurance program, reauthorize the Children’s Health Insurance Program and arrive at a fiscal year 2018 budget.
There will be a light week of economic data on the calendar with fresh information on the U.S. trade balance, initial claims, non-productivity and consumer credit. The U.S. Central Bank will send seven speakers to address the public on their respective economic outlook with New York Federal Reserve President William Dudley’s speech addressing this topic on Thursday, Sept. 7.