Morning Briefing
Published: Thu, Nov. 15, 2007 12:00AM
Modified Thu, Nov. 15, 2007 05:57AM
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closeREPORT DUE ON CONSUMER PRICE INDEX
Inflation is a dirty word. So is recession.
Federal policymakers are trying to guard against both, but they're in a tricky situation.
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Investors want the Federal Reserve to cut interest rates to goose the economy and avoid recession. But with the dollar weak, doing so could spur inflation. Because of that dynamic, every indicator is getting extra scrutiny.
The government today will report on the consumer price index -- the measure of inflation at the retail level -- for October. Economists expect a second consecutive monthly increase of 0.3 percent.
HOUSE TO VOTE ON LENDING STANDARDS
The U.S. House is scheduled today to vote on a bill that would alter some practices in the mortgage industry.
The measure sets minimum lending standards and would prevent lenders or brokers from steering borrowers into loans that aren't best for them.
The goal is to prevent another mortgage industry meltdown like the one that in recent months has shaken financial markets and rippled through the economy. The bill particularly targets subprime loans, which triggered many of the problems. The measure passed the House Financial Services Committee last week and has bipartisan support.
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