Inflation; Housing Permits
March 18, 2014
Inflation Remained Low, Housing Permits Increased, and Foreign Demand for LT Treasuries Was Up in February
On the Hill
- For the second time in two weeks, President Obama is facing Democratic opposition to his nominees. This time, eight to 10 Democrats are expected to oppose his nomination of Vivek Murthy as Surgeon General.
- Chairman of the House Intelligence Committee Mike Rogers stated yesterday that the US should be cautious and increase economic pressure on Russia, in light of a recent report that the US and Russia have agreed to solve the Ukranian crisis peacefully.
- Consumer Price Index inflation (“headline inflation”) and CPI-less food and energy each rose 0.1% in February, as expected. Inflation at the consumer level remains quite low, up only 1.1% year/year.
- Housing Starts for February were reported at the seasonally-adjusted, annualized rate (SAAR) of 0.907M. However, Housing Permits (SAAR) were reported much higher than expected at 1.018M.
- Foreign demand for long-term Treasury securities totaled $7.3 billion in January, as compared with December’s revised $49.5 billion outflow. Increased Chinese holdings contributed to this shift.