STATUS CHECK: DODGING THE HURRICANE BULLET; ACCEPTING NOMINATION
WASHINGTON (MaceNews) – The following is Thursday’s status check of developments in the U.S. that can influence economic, health and political outcomes: In the words of Texas Gov. Greg Abbott the Gulf Coast region as well as the northern path inland of Hurricane Laura “dodged a bullet” Thursday with the storm a shade less powerful […]
ECB CHIEF ECONOMIST HINTS AT FURTHER EURO ZONE STIMULUS
By Laurie Laird LONDON (MaceNews) – The European Central Bank may be forced to enact further extraordinary measures to lift inflation toward its target following the shock of the coronavirus, according to the Bank’s chief economist Thursday. “For the ECB to deliver on its mandate [the bank may resort] to additional monetary stimulus,” Lane told […]
ANALYSIS: FED CAN NOW HAVE FULL-THROATED RECOVERY FOCUS ON JOBS
By Denny Gulino WASHINGTON (MaceNews) – The pandemic’s destruction of U.S. employment was not the trigger for the new Federal Reserve policy framework, in the works long before the virus hit. However the jobs crisis is a perfectly appropriate context for the focus on employment. That focus had already become the hallmark of the Jay […]
POWELL: FED WILL BE FLEXIBLE WITH AVERAGE INFLATION TARGETING, ACT AS NEEDED
By Steven K. Beckner (MaceNews) – Federal Reserve Chair Jerome Powell said Thursday the Fed will be “flexible” in pursuing a new “average inflation targeting” regime and not use any set “mathematical formula.” Powell, elaborating on what he called a “robust” new monetary policy strategy framework adopted earlier by the Fed’s policy-making Federal Open Market […]
TEXT: FED’S GUIDE TO LONGER-RUN GOALS, MONPOL STRATEGY
WASHINGTON (MaceNews) – The following is the text of the Federal Reserve’s guide to the changes in its longer-run goals and monetary policy strategy that was released along with Fed Chair Jay Powell’s remarks Thursday morning: In the revised Statement on Longer-Run Goals and Monetary Policy Strategy shown below, bold red text shows additions and […]
DATA FLASH: US 2ND QTR GDP REVISED UP TO -31.7%
—Second Quarter PCE Revised Up to -34.1% From -34.6% Previously–Initial Jobless Claims Fell By 98,000 to 1.006 Million in August 22 Week By Kevin Kastner WASHINGTON (MaceNews) – Second quarter GDP was revised up due to upward adjustments to all its components. Even with the small improvement, though, the second quarter reading remains the largest […]