‘MATERIAL REASSESSMENT’ NECESSARY TO TRIGGER MORE RATE CUTS
By Denny Gulino WASHINGTON (MaceNews) – After lowering the fed funds rate by another quarter point, Federal Reserve Chairman Jerome Powell Wednesday suggested the “tail risks” of the U.S.-China trade right and Brexit seem to have diminished, a hint that still more accommodation might need a new and unexpected trigger. Hints were mostly all there […]
TWO FOMC DISSENTERS WANTED NO CUT; NO HINTS RE FUTURE
WASHINGTON (MaceNews) – The Federal Open Market Committee’s lean policy statement had no explicit hints about whether there will be another cut in December following its latest quarter point trim Wednesday. Two dissenters again wanted no rate cut. The FOMC statement follows, with boldfaced emphasis added: Information received since the Federal Open Market Committee met […]
US TSY NOT READY TO ADDRESS ANY FED-CAUSED T-BILL ‘SCARCITY,” MM ‘VOLATILITY’
— ‘Year-End Financing Rates Are Expected to be Volatile Again’ –Changes In T-Bill Issuance May Not Wait Until Next Refunding By Denny Gulino THE TSY DEPT (MaceNews) – The Federal Reserve’s $60 billion-a-month T-bill purchase program intended to stabilize the money markets and prevent liquidity crunches may not prevent more unwelcome volatility at the end […]
BANK OF CANADA HOLDS INTEREST RATE TARGET AT 1.75%
By Gordon Isfeld OTTAWA (MaceNews) – The Canadian economy appears to be settling into a slower-but-steadier pattern of growth, with inflation remaining relatively unchanged and policymakers maintaining their interest rate target at 1.75%. “A growing number of countries have responded with monetary and other policy measures to support their economies,” the Bank of Canada said Wednesday in its […]
BANK OF CANADA LEAVES RATES UNCHANGED, EYES GLOBAL SLOWING
By Gordon Isfeld OTTAWA (MaceNews) – The Bank of Canada kept its interest rate target unchanged at 1.75%, as expected, but is watching closely as global economic growth slows, the bank said Wednesday. “A growing number of countries have responded with monetary and other policy measures to support their economies,” the Bank of Canada said in its quarterly […]
TEXT: US BEA 3Q GDP TECHNICAL NOTE
WASHINGTON (MaceNews) – The following is the U.S. Bureau of Economic Analysis technical note that accompanied the report on third-quarter GDP Wednesday: Gross Domestic Product Third uarter of 2019 (Advance estimate) October 30, 2019 Third Quarter GDP increased 1.9 percent (annual rate) in the third quarter of 2019, following an increase of 2.0 percent in […]
EXCERPT OF TBAC RPT TO TSY: T-BILL SCARCITY ‘COULD DEVELOP’
–‘Year End Financing Rates Ate Expected to be Volatile Again’ US TSY DEPT (MaceNews) – The private-sector Treasury Borrowing Advisory Committee warned the department Treasury bill “scarcity” could develop with implications for the money markets where the Federal Reserve is offsetting liquidity pressures with T-bill purchases, according to documents released by the Treasury Department Wednesday. […]