More support for Dr. Janet Yellen to replace Fed Chairman Ben Bernanke next January. I supported Yellen in 2009, and I think she would be an excellent choice.
Wednesday economic releases:
• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.
• During the day, the AIA's Architecture Billings Index for May will be released (a leading indicator for commercial real estate).
• At 2:00 PM, the FOMC statement will be released. No change to interest rates or QE purchases is expected at this meeting.
• Also at 2:00 PM, the FOMC economic projections will be released. Here is a projections preview including a table of previous projections.
• At 2:30 PM, Fed Chairman Ben Bernanke holds a press briefing following the FOMC announcement.
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