Delivering comments at the FDIC’s Minority Depository Institutions
National Conference in Chicago, Fed Governor Randall Kroszner said the
Fed’s new rules on mortgages would alleviate pressures
in nearly the entire subprime sector and some other
alternative mortgage markets.
Due to a change in the housing code of New York City,
U.S. housing starts came in above expectations at 1066k in June, a month-
over-month rise of 9.1%, according to data released from the U.S.
Department of Commerce on Tuesday morning. The consensus was looking for
a decline to a level of 960k.
Initial claims for unemployment benefits in the
United States rose much less than expected to 366k in the week ending
July 12, following a slightly revised 348k in the previous week.
Continuing claims fell back 81k to 3.122 million for the week ending July
5, the Department of Labor reported Thursday.
International securities transactions and the Bank of Canada’s
monetary policy report highlight today’s Canadian economic releases as
U.S. markets receive jobless claims and housing starts, followed by the
Philadelphia Fed’s manufacturing report for July.