U.S. consumer confidence dropped 6.2 points to 95.2 in April U.S. consumer confidence dropped 6.2 points to 95.2 in April, after rising 2.6 points to 101.4 in March (revised from 101.3). This is a big miss relative to expectations for a gain to 102.0, and is the lowest reading since December. The present situations component fell to 106.8 from 109.5 (revised from 109.1). The expectations index slid to 87.5 from 96.0. The labor differential (jobs plentiful minus jobs hard to get) dropped back to -7.3 from -4.8, and is the lowest since December's -10.1. The 12-month inflation index decelerated to 4.8% from 5.2%. None of these data pieces are good news for the Fed.
The Case-Shiller home price index preview: The Case-Shiller home price index preview: The Case-Shiller home price index is due for February and may tick up slightly to 173.00 from 172.9 in January for 20-cities nsa.
Fed seen delaying liftoff to September to push down unemployment Fed seen delaying liftoff to September to push down unemployment according to a Bloomberg survey, "as officials try to spur inflation and hiring after the economy stumbled in the first quarter. Policy makers meeting on Tuesday and Wednesday in Washington will assess the impact of a harsh winter and a stronger dollar, which may have helped reduce the pace of economic growth to the lowest in a year, economists said. A hiring slowdown last month is adding to caution inside the Fed Open Market Committee." This view is not a stretch and in line with the direction the "temporary slowdown" that should be evident in the latest downward revision in Q1 GDP tomorrow morning.