by Calculated Risk on 9/23/2015 06:11:00 PM

Dr. Yellen's speech tomorrow could give hints on how close the Fed is to the first rate hike. There has been "some further improvement" in the labor market, but inflation is still below the Fed's target. Yellen's speech on Thursday is title "Inflation Dynamics and Monetary Policy"; she addresses the key topic!

Thursday:
• At 8:30 AM ET, the initial weekly unemployment claims report will be released. The consensus is for 275 thousand initial claims, up from 264 thousand the previous week.

• Also at 8:30 AM, Durable Goods Orders for August from the Census Bureau. The consensus is for a 2.2% decrease in durable goods orders.

• Also at 8:30 AM, Chicago Fed National Activity Index for August. This is a composite index of other data.

• At 10:00 AM, New Home Sales for August from the Census Bureau. The consensus is for an increase in sales to 515 thousand Seasonally Adjusted Annual Rate (SAAR) in August from 507 thousand in July.

• At 11:00 AM, the Kansas City Fed manufacturing survey for August.

• At 5:00 PM, Speech by Fed Chair Janet Yellen, "Inflation Dynamics and Monetary Policy", At the University of Massachusetts Amherst, Amherst, Massachusetts