Japan Week Ahead: Inflationary Pressures Growing amid Weak Yen, Measured BOJ Tightening Pace, Prompting Some Economists to Point to an Early September Rate Hike
By Max Sato (MaceNews) – Upward pressures on both producer and consumer prices are mounting in Japan when only about five years ago policymakers dreamt about seeing the annual inflation rate overshoot the Bank of Japan’s 2% target from around zero. When BOJ board members left the policy interest rate unchanged at 1% at the […]
Fed Officials United On Need To Reduce Inflation; Differ on How, When
– Some Ready To Tighten; Others Hoping for More Disinflation Evidence – Alternative Policy Scenarios for Curbing Inflation Being Assessed By Steven K. Beckner (MaceNews) – The week after a hotly debated Federal Open Market Committee decision to hold short-term interest rates steady has brought comments from multiple Federal Reserve officials suggesting that the Fed’s […]
3 Fed District Presidents Argue FOMC Needed to Raise Rates Now to Bring Down Inflation
– Modest Tightening Now Would Avoid Having to Move Aggressively Later, Kashjari and Logan Argue By Steven K. Beckner (MaceNews) – The three Federal Reserve bank presidents who voted against the Federal Open Market Committee’s Wednesday decision to leave short-term interest rates unchanged defended their actions Friday. The three dissenters — Cleveland’s Beth Hammack, Minneapolis’s […]
Divided FOMC Holds Rates Steady but Warsh Says That’s Not The End of the Story’
– Warsh Welcomes Rising Bond Yields as Aiding Fed Inflation Fight – Warsh Downplays Dissents; Says Committee United on ‘Delivering’ 2% Inflation By Steven K. Beckner (MaceNews) – The Federal Reserve’s policymaking Federal Open Market Committee left short-term interest rates unchanged Wednesday for the fifth straight meeting, but the Fed’s rate-setting body was sharply divided, […]
TRANSCRIPT: Fed’s Warsh Says Fed’s Work Advancing, Grappling with ‘Hard Questions;’ Despite Three Dissents, Fundamental Agreement
WASHINGTON (MaceNews) – The following is a rough transcript of Federal Reserve Chair Kevin Warsh’s answers to reporters’ questions after the Federal Open Market Committee’s policy statement showed three rate-hike dissents to the stand-pat central bank stance: > Chair Warsh: Good day. My second FOMC Committee meeting as Chairman has come quickly. It’s probably too […]
FOMC TEXT: No Rate Change with Three Dissents In Favor of a Rate Hike
WASHINGTON (MaceNews) – The following is the text of the Federal Open Market Committee policy statement issued a short time ago Wednesday afternoon:The Federal Open Market Committee approved the following statement for release by a 9 – 3 vote: The Federal Open Market Committee approved the following statement for release by a 9 – 3 […]
Japan Week Ahead: BOJ on Hold Amid Mideast Conflict, US Trade Uncertainty, While Pointing to Need to Raise Policy Rate Further to Neutral Level
–July Tokyo CPI Seen Ticking Up Closer to BOJ’s 2% Target as Iran War Has Boosted Prices, Import Costs High on Yen’s Slide to Nearly Four-Decade Low–June Factory Output to Pose 3rd Straight Rise amid Global Demand for Computer Chips, Non-Ferrous Metals, Easing Impact of US Tariffs on Autos By Max Sato (MaceNews) – The […]
Japan Week Ahead: Resilient Economy Faces Inflationary Pressures, Structural Fragility as Mideast Conflict Rages on, Weak Yen Keeps Imports Expensive
–June Exports Forecast to Post 10th Straight Y/Y Rise, CPI Seen Up Slightly but Still Below BOJ’s 2% Inflation Target By Max Sato (MaceNews) – Japan’s economy has shown resilience in the face of protectionist U.S. trade policy and the lingering Mideast conflict. Exports have weathered the drag from stiff Trump tariffs on autos and […]
Warsh to Congress: Fed ‘Will Deliver” 2% Inflation, Given ‘Solid’ GDP, ‘Stable’ Job Market
– Downplays Soft CPI Report As ‘One Data Point’; Mustn’t ‘Cherry Pick’ – Balance Sheet Should Be Used Only in Crisis; Interest Rates Should Predominate – Refuses To Give ‘Forward Guidance’ On What FOMC Will Do with Rates By Steven K. Beckner (MaceNews) – Federal Reserve Chairman Kevin Warsh stressed again Tuesday that the Fed’s […]
Fed’s Waller: Another ‘Hot’ Core Inflation Reading May Force ‘Near Term’ Rate Hike
– Inflation And Monetary Policy Are ‘At A Crossroads’ – Economy Solid’, Employment ‘Stable’; So, Focus Must Be on 2% Inflation Target By Steven K. Beckner (MaceNews) – On the eve of a critical inflation report, Federal Reserve Governor Christopher Waller declared Monday that a bad reading could necessitate an early Fed interest rate hike. […]