Dallas Fed Delays PCE Report But Provides the Entertainment
Hey Dallas Fed, what's with the delay? I was waiting anxiously over here and damn you, I'll be out of town for this fabulous PCE data of yours that you are keeping to yourselves.
Here I thought you were on top of things. I'm so disappointed in you, Dallas. Don't make me bump Plosser up on the "Jr Deputy Accountant Favorite Fedheads" list because I'll do it.
The Federal Reserve Bank of Dallas said its June Trimmed Mean PCE price index report, which was due to be released on Tuesday [August 4], would be delayed to August 28.
"Due to a comprehensive revision of personal consumption expenditures data by the Bureau of Economic Analysis (BEA), the Federal Reserve Bank of Dallas has postponed the release of its Trimmed Mean PCE inflation rate until August 28," the regional central bank said on its Web site.
The Dallas Fed normally releases its report on the same day the U.S. Commerce Department's BEA issues monthly Personal Income data.
The Dallas Fed will release figures for both June and July on August 28. The BEA is expected to release U.S. July personal income on the same day.
Earlier on Tuesday, the BEA said U.S. June personal income fell by 1.3 percent. The data incorporated comprehensive annual revisions going back to 1929, and monthly revisions from 1959 onward.
The Trimmed Mean PCE price index is a core inflation measure based on the government's price index for personal consumption expenditures that strips out items that have shown especially large price movements in any given month. It is posted to Web site here.
Um, that Reuters link leads to a 404, which makes me wonder what in the hell is going on over at Dallas Fed. I also find it odd that they won't commit to a time but I can't judge since, you know, I don't really do anything on time (which is probably why editors hate me). Then again, I am not the Fed and therefore have slightly less at stake.
In a completely unrelated note, some Dallas Fed spawn LOLZ for you via Clusterstock:
The Dallas Fed has been our favorite Fed since its perma-bear president Richard Fisher coined the awesome concept "securitization transmitted disease." (Also, ask Ken Lewis, you don't mess with them.)
And that was before we knew Richard Fisher had a son named Miles who could cover David Byrne while parodying American Psycho and killing off the nefarious toxic asset Lydia Hearst. It's in the video below. (Also: Miles does an even better Tom Cruise.)
Now that is awesome. Please don't let him end up in central banking, though perhaps he wasn't playing a homicidal axe murderer, in which case it is my humble opinion that he would be absolutely wonderful over at the Fed.
I could also confess here that Richard Fisher has some incredibly great genes (we find him hot in a really skeezy central banker sort of way) but I would hate for our favorite Fedhead in Richmond to develop a complex. <3 you the mostest, Jeffrey Lacker, don't worry a single hair on your pretty little head.
But I digress. This delay smells a little strange but that could be because our tin foil hat is strapped on too tight and we've been reading too many Fedhead speeches in the last couple weeks.
Consider yourself put on notice, Richard Fisher: we saw what you did there