<strong>FOMC Minutes Show Desire to Start Monetary Firming but Not Overly Aggressively</strong>
– Rate Hikes Would Be At ‘Faster Pace” if Inflation Doesn’t Moderate – Appropriate Pace of Rate Hikes Will Be Reassessed “At Each Meeting” By Steven K. Beckner (MaceNews) – Federal Reserve officials saw a need to start withdrawing monetary stimulus to curb inflation within the context of a “strong” labor market at their Jan. […]
Analysis: Italy’s Government Weaker After Tricky Presidential Vote; 2023 Vote Outcome Uncertain – Sources
By Silvia Marchetti ROME (MaceNews) – The “forced” reappointment of Sergio Mattarella as Italy’s head of state despite his initial unavailability for a second term marks a further weakening of the government and its reformatory push as parties come to terms with their vulnerabilities, according to Italian party sources. “Party talks have failed in striking […]
<strong><br>FOMC Tees Up March Rate Hike Now That U.S. At ‘Maximum Employment’</strong>
– Powell Sees ‘Substantial’ Balance Sheet Shrinkage After Rate Hikes Begin – Powell Says ‘Couple’ More Discussions Needed on Balance Sheet Reduction Strategy – Powell Implies Rate Hikes May be More Aggressive Given High Inflation, Tight Labor By Steven K. Beckner (MaceNews) – The Federal Reserve took another giant step toward removing some monetary accommodation […]
FOMC To Continue Monetary Normalization Talks As Bond Buying Winds Down
By Steven K. Beckner (MaceNews) – Going into its first meeting of the year, it might seem as if the Federal Open Market Committee has already scripted its monetary policy for coming months. After all, Federal Reserve Chairman Jerome Powell and his colleagues on the Fed’s policy making committee have been pretty explicit about their […]
BOJ Keeps Easing Stance, Tweaks Covid Funding Scheme Toward Small Firms
By Max Sato (MaceNews) – The Bank of Japan said Friday it is ending parts of its anti-Covid special financing program aimed at supporting large firms, whose financial conditions have improved, while extending its feature of helping hard-hit small businesses, particularly those in the service sector. As expected, the BOJ decided to maintain its interest […]
Analysis: Fed Ponders What Puts Out This Peculiar Inflation Fire
–Overheating or Super Squeezing? By Denny Gulino WASHINGTON (MaceNews) – Federal Reserve Chair Jay Powell Wednesday reassured his press conference viewers the central bank has the tools it needs to make sure aggressive inflation doesn’t last too long, reinforcing the narrative this inflation episode will meet its match. But what if the seeds of deflation […]
Analysis: Inflation-Wary FOMC Seems Headed Toward a Quicker Pace of Tapering, Rate Hikes
– Wage-Price Trends Have Dramatically Changed the Fed’s Policy Calculus By Steven K. Beckner (MaceNews) – Who would have imagined just a short time ago that the Federal Reserve would not only be accelerating reductions of asset purchases before year’s end, but signaling an intention to raise short-term interest rates sooner and more rapidly than […]
Japan’s October Energy-Led CPI Rise Capped by Deeper Mobile Phone Discounts
— Gasoline, Heating Oil, Utilities Costs Up Sharply Amid Rising Energy Markets — Total CPI Marks 2nd Straight Y/Y Gain; Slower on Fresh Food Price Drop — Producer Price Spike Has Limited Impact on CPI But BOJ Sees Gradual Pickup By Max Sato (MaceNews) – Core consumer prices in Japan maintained a small step upward […]
MaceNewsViews: Commentary – Democrats Celebrating (Perhaps Fleeting) Victory
By Eric Ham WASHINGTON (MaceNews) – On Monday, President Biden will sign into law the $1.2 trillion bipartisan infrastructure bill, a cornerstone of the president’s agenda, in a lavish ceremony with many supporters and even a few Republicans present. The bill provides billions for roads and bridges across the nation and much more, for instance […]
FOMC: Tapering of Bond Buying to Start Later This Month, Continue in December
– Fed To Cut Treasury Securities By $10 Billion; MBS $5 Billion Per Month – Powell: Tapering Apt to End Mid-2022, but Adjustable Depending on Conditions – FOMC Still ‘Expects’ Inflation To Be ‘Transitory,’ but Powell More Worried – Powell Says ‘Won’t Hesitate’ To Raise Rates to Counter Inflation if Needed By Steven K. Beckner […]