By Bill Hornbarger, Chief Investment Officer
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Three Things to Watch
- On Thursday, the domestic equity market will be closed for the state funeral of President Jimmy Carter. The bond market will be open with an early close at 2 p.m. ET.
- On Wednesday, the U.S. Federal Reserve (Fed) will release the minutes of the December Federal Open Market Committee meeting, where the Fed cut rates 25 basis points. In the press conference following that meeting, Fed Chairman Powell stated, “We can therefore be more cautious as we consider further adjustments to our policy rate.” There was also a dissent by one voting member, who argued rates should remain unchanged.
- On the data front, December payrolls will be released Friday. They are expected up 160,000, and the unemployment rate is forecast to remain unchanged at 4.2%.
Three Things to Know
- In the wake of John F. Kennedy’s assassination in 1963, the federal government firmed up the procedures and processes that are to occur following the death of a sitting or former president. Among these changes was a codification of the rules of ceremony for state funerals and an expectation that all new presidents would pre-arrange and make their final wishes known upon entering office. (Source: Planningdaisies.com)
- Our 30th president, Calvin Coolidge, who was often referred to as “Silent Cal” for his reserved and soft-spoken demeanor, was the last president to be buried in a public cemetery. His final resting place is at Plymouth Notch Cemetery in Vermont. All presidents since Coolidge have been buried at Arlington National Cemetery, their presidential library or their family estate. (Source: Planningdaisies.com)
- Presidential state funerals can feature up to 10 days of remembrance, according to the Army’s Military District of Washington, which is in charge of coordinating them. The White House says on its website that, traditionally, there are five days of remembrance. State funerals consist of three stages, according to the Military District of Washington. The first stage includes ceremonies in the state where the deceased lived. The second stage includes ceremonies within Washington. The third stage includes ceremonies in the state where the deceased has chosen to be interred. (Source: HuffPost.com)
The above information reflects the current opinion of the author. It is based upon sources and data believed to be accurate and reliable. Opinions and forward-looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security mentioned.