WHITE HOUSE WATCH: ANOTHER CRUISE SHIP, ANOTHER FATALITY, ANOTHER DAY OF UNKNOWABLES
By Denny Gulino THE WHITE HOUSE (MaceNews) – Facing weeks, months, a year or more of worsening virus news until a vaccine is ready, U.S officials told their White House audience of reporters Wednesday that, “Sadly, we received word today another American passed away.” Actually there were two more fatalities, California’s first and Washington State’s […]
ST. LOUIS FED’S BULLARD: DON’T ASSUME FOMC WILL CUT AGAIN MARCH 18 – BUT FED WILL MOVE AGAIN IF NEEDED TO COUNTER VIRUS EFFECTS
By Steven K. Beckner(MaceNews) – St. Louis Federal Reserve Bank President James Bullard Wednesday cautioned markets not to assume that the Fed’s policymaking Federal Open Market Committee will cut interest rates again at its March 17-18 meeting. Bullard did not rule out another cut in the federal funds rate on March 18 in a telephone […]
ANALYSIS: UNDER PRESSURE FED APT TO STAY ON EASING COURSE
By Steven K. Beckner (MaceNews) – Whatever one may think of the wisdom of the Federal Reserve’s March 3 interest rate cut, it has embarked on a preemptive easing of credit in response to economic threats posed by the corona virus and seems likely to remain on that course. Not only did the Fed’s policymaking […]
IMF: VIRUS CAUSING ‘GENERALIZED WEAKENING DEMAND’
WASHINGTON (MaceNews) – IMF Managing Director Kristalina Georgieva Wednesday said her institution and the World Bank are mobilizing their resources to coordinate a global response to the corona virus outbreak, with well more than $1 trillion available for a “people first” approach to mitigation. “The disease is spreading quickly with over one third of our […]
CANADA ECHOES FED WITH HALF-POINT RATE CUT
By Gloria Galloway OTTAWA (MaceNews) – Canada has followed the United States by substantially lowering interest rates to buffer the shock of the COVID-9 virus that is reverberating through financial markets around the world. The Bank of Canada Wednesday lowered its target overnight rate by 50 basis points to 1.25%, its largest single rate cut […]
FED’S MESTER: FOMC TO CONSIDER INCOMING DATA AHEAD OF MARCH FOMC MEETING
By Laurie Laird LONDON (MaceNews) – The Federal Reserve will continue to monitor economic data closely ahead of its rate setting meeting March 17-18 according to Cleveland Federal Reserve President Loretta Mester, raising the prospect of another rate cut at that meeting. Addressing a group of economists in London Tuesday night, Mester stressed that members […]