Written by Sig Silber
El Nino is predicted but the current weather looks more like a La Nina pattern. The Pacific is warm but the Lower 48, for the most part, will be cold. The "analogs" suggest that the conditions during the next two weeks are consistent with Fall arriving earlier or later than usual.
This week's 6 - 10 day outlook is consistent with last week's 8 - 14 day outlook suggesting that the two-week forecasting skill level is good right now. But the monthly and seasonal outlooks (which will be updated on Thursday) suffer from the commitment to El Nino arriving on time and possibly also an assumption that it will behave as a traditional El Nino.
Average Gasoline Prices for Week Ending 10 November 2014 at Lowest Level Since November 2010, Now Under $3 per Gallon
Econintersect: Average gasoline prices fell an average of 4.7 cents nationwide this past week following the previous week's 5.2 cent fall from the week before. However, since 06 January 2014, gas prices have fallen 43.3 cents a gallon.
Average prices by region and a breakdown by grade follow after "Read more >>".
At the end of the article is a Gas Buddy graphic with access to local gasoline prices anywhere in the country.
by Vasco Cúrdia - FRBSF Economic Letter, Federal Reserve Bank of San Francisco
Although inflation is currently low, some commentators fear that continued highly accommodative monetary policy may lead to a surge in inflation. However, projections that account for the different policy tools used by the Federal Reserve suggest that inflation will remain low in the near future. Moreover, the relative odds of low inflation outweigh those of high inflation, which is the opposite of historical projections. An important factor continuing to hold down inflation is the persistent effects of the financial crisis.
CBO Provides Options for Spurring More Innovation through Spending, Taxing, and the Regulatory System
from the Congressional Budget Office
Innovation is a central driver of economic growth in the United States. Workers become more productive when they can make use of improved equipment and processes, and consumers benefit when new goods and services become available or when existing ones become better or cheaper—although the transition can be disruptive to established firms and workers as new products and processes supersede old ones. Looking ahead, innovation will continue to be important for economic growth, in part because the supply of workers to the economy is expected to increase at a much slower rate in the future.
Two Former Defense Contractor Employees Charged With Bribing Saudi Officials Because They Paid for a "World Tour"
from the Securities and Exchange Commission
The Securities and Exchange Commission today sanctioned two former employees in the Dubai office of a U.S.-based defense contractor for violating the Foreign Corrupt Practices Act (FCPA) by taking government officials in Saudi Arabia on a “world tour” to help secure business for the company. The two employees later falsified records in an attempt to hide their misconduct.