FOMC, CHAIR POWELL HOLDING ON TIGHT, ALL IN FOR DURATION
–‘Not Going To Run Out of Money’ –Time to Use the ‘Great Fiscal Power’ Of the Country By Denny Gulino WASHINGTON (MaceNews) – The Federal Open Market Committee, echoed by Federal Reserve Chair Jay Powell, Wednesday signaled only firm determination to fight the damage from the economic shutdown, whatever it takes, reassuring the markets, Wall […]
FOMC POLICY STATEMENT – ‘COMMITTED TO USING FULL RANGE OF TOOLS’
Following is the text of the FOMC policy statement issued on April 29: The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. The coronavirus outbreak is causing tremendous human and economic hardship across the […]
DATA FLASH: US 1ST QTR GDP CONTRACTS BY 4.8%; PCE PLUNGES ON SOCIAL DISTANCING
–Business Investment Hit by COVID Impact, Residential Investment Soared –Imports -15.3%; Price Index +1.3% By Kevin Kastner WASHINGTON (MaceNews) – The U.S. economy contracted in the first quarter, as growth in January and February was more than wiped out by business shutdowns late in March, a trend that will likely carry over into the second […]