STATUS CHECK: FOOD LINES AND GOVT INERTIA; VIRUS, STREET UNREST, JOBLESSNESS
WASHINGTON (MaceNews) – The following is Monday’s status check of developments in the U.S. that can influence economic, health and political outcomes: Life in these United States, another chapter. President Trump holds a news conference and defends his MAGA truck rally firing paint balls at Black Lives Matter protestors – “Paint is not bullets.” – […]
STATUS CHECK: FROM JACOB BLAKE TO CHADWICK BOZEMAN, A WEEK TO REMEMBER – AND FORGET
WASHINGTON (MaceNews) – The following is Friday’s status check of developments in the U.S. that can influence economic, health and political outcomes: A week filled with news is over. No more apocalyptic-themed Republican National Convention. The ghost of Hurricane Laura is cutting across the Washington-to-Philadelphia area toward the Atlantic. The Federal Reserve has formalized its […]
DATA PREVIEW: AUGUST PAYROLLS, HURRICANE LAURA TOP OF MIND
By Kevin Kastner WASHINGTON (MaceNews) – The impact of Hurricane Laura, which ripped through the Gulf Region on Thursday and is carving its way up the middle of the U.S. as we speak, will be felt in the weekly initial claims and rig count data next week and could also affect retail sales and other […]
DATA FLASH: US JULY PERSONAL INCOME TICKS UP, PCE GROWTH SLOWS
-US July Personal Income +0.4% After -1.0% in June, Savings Rate 17.8%-Nominal PCE +1.9%, Real PCE +1.6%; Core Prices Rise 0.3%-Real PCE Tracking 36.6% SAAR Above Second Quarter Average-Chicago PMI Trims to 51.2 in August from 51.9 in July-August Michigan Sentiment Revised Up to 74.1, Ahead of 72.5 in July By Kevin Kastner WASHINGTON (MaceNews) […]
BOE’S BAILEY: BANK UNDERESTIMATED ITS FIRE POWER; SEES AMPLE ASSETS IF EXPANDED QE NEEDED
By Laurie Laird LONDON (MaceNews) – The Bank of England underestimated the tools at its disposal in the event of a Covid-sized crisis and sees an ample supply of financial assets should the economy require further quantitative easing. “It looks from today’s vantage point that we were too cautious about our remaining firepower pre-Covid,” said Bank […]
CORONAVIRUS DEALS BLOW TO GERMAN CONSUMER CONFIDENCE: GFK INSTITUTE
By Marco Babic ZURICH (MaceNews) – After improving for three consecutive months, consumer confidence in Germany fell on fears coronavirus restrictions will be further tightened, which served to dampen income expectations. Based on August results, Germany’s GfK institute is forecasting a reading of -1.8 in September for consumer confidence, down from a revised -0.2 in […]
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 […]