The Fed's Waller cited two sets of economic data in his internal view of the 75/100 bps debate: retail sales and housing. He said they needed to be 'materially' above expectations.
The retail sales data on Friday was strong but the market voted that it wasn't strong enough, especially after fellow hawk Bullard downplayed 100 bps. We're in the Fed blackout period now so it will come down to WSJ leaks (did we get one on the weekend?) and this week's set of housing numbers.
That starts today with NAHB data at 10 am ET. The consensus is a dip in homebuilder sentiment to 66 from 67.
For more, see the economic calendar.
