Economy · June 23, 2022

Unemployment claims, Fed chairman Powell testimony, bank stress tests

from Active calculated risk 06/22/2022 20:13:00

Mortgage ratesTuesday:
• At 8:30 am ET, the initial weekly unemployment claims the report will be released. The consensus is 225 thousand, down from 229 thousand last week.

• At 10:00, Testimony, Fed President Jerome Powell, Semi-annual report on monetary policy to CongressBefore the Financial Services Committee, United States House of Representatives

• At 4:30 pm, the Fed will release annual bank stress test results.

On COVID (focus on hospitalizations and deaths):

COVID metrics
Now Week
Percentage fully vaccinated 66.8% ≥70.0%1
Fully vaccinated (millions) 221.9 ≥2321
New cases a day3 99.365 103,646 ≤5,0002
Hospitalized3🚩 24,470 24,213 ≤3,0002
Deaths a day3 248 295 ≤502
1 Minimum to obtain “herd immunity” (estimated between 70% and 85%).
2my goals to stop daily posts,
3Average of 7 days for cases, currently hospitalized and deaths
🚩 Increase in 7-day weekly average for cases, hospitalized and deaths

✅ Objective achieved.

Positive COVID-19 tests per dayClick on the graphic to enlarge the image.

This graph shows the daily (columns) and 7-day (line) mean of reported deaths.

Average daily deaths bottomed out at 214 per day in July 2021.