Wells Fargo Weekly Economic & Financial Commentary, Feb. 28, 2014

  • by BPC Staff
  • on February 28, 2014

Yellen at the Senate, While Weather Still Skews Data

· As expected, GDP growth was revised lower, reflecting a slower build in inventories, a weaker trade position and a more cautious consumer.

· Chair Yellen’s Senate testimony indicated a continuation of current monetary policy, although the course could change if weak data turns out to be a slowdown rather than weather related.

· Durable goods orders fell in the month, but new home sales picked up despite the weather.

Weekly Economic and Financial Commentary Feb. 28