Powell Counters Wall Street Speculation About Impending Rate Cuts
– Welcomes Disinflation but Repeats Need ‘Confidence’ Policy ‘Sufficiently Restrictive’ – ‘Premature’ To ‘Speculate on When Policy Might Ease’ – Reiterates FOMC To ‘Proceed Carefully” But Will Raise Rates Further If Needed By Steven K. Beckner (MaceNews) – Federal Reserve Chair Jerome Powell welcomed continued progress on inflation reduction Friday, but declined to reinforce recent […]
US November ISM Manufacturing in Contraction for 13th Straight Month as Firms Trim Output, Headcount in Response to Soft Demand
–ISM Manufacturing Index Unchanged at Weaker-Than-Expected 46.7 in November –ISM’s Fiore: Sector at Lower End of Trough; Things Moving Very Slowly –Fiore: New Orders Still Down, No Idea Where They Will Be in December –Fiore: High Fuel Costs Are Negative as Energy Market Looks Set to Rise Again By Max Sato (MaceNews) – U.S. manufacturing activity was […]
White House and Other Schedules for Friday, Dec 1
WASHINGTON (MaceNews) – The following are Friday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as U.S. economic data and Federal Reserve events: DAILY GUIDANCE AND PRESS SCHEDULE FOR FRIDAY, DECEMBER 1, 2023 In the morning, the President will receive the President’s Daily Brief. This meeting in the Oval Office […]