Week InAdvance: November 29, 2021
Mon Nov 29 Cyber Monday in the U.S. | Tue Nov 30 Powell, Yellen in the Senate. | Wed Dec 1 Powell, Yellen in the House. | Thu Dec 2 SEC's investor advisory panel meets. | Fri Dec 3 U.S. jobs report for November. | Sat Dec 4 Total solar eclipse
Fed Chair Jerome Powell gets to defend his renomination when he appears at a Senate Banking Committee hearing alongside Treasury Secretary Janet Yellen on Tuesday. They speak again the following day at the House Financial Services Committee. The hearings are about the government response to the Covid crisis, but lawmakers are sure to question Powell about his tenure and the direction of rates.
We'll see if the U.S. labor market continued to recover in November with the monthly jobs report. In October, nonfarm payrolls increased 531,000, beating estimates. The jobless rate fell to 4.6% while the labor force participation rate was unchanged.
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