FED’S BRAINARD: CURRENT ASSET PURCHASE PACE TO CONTINUE ‘QUITE SOME TIME’; MAY NEED MORE
– Too Soon To Think About QE Tapering or Liftoff from Zero Lower Bound By Steven K. Beckner (MaceNews) – Federal Reserve Governor Lael Brainard strongly indicated Wednesday that, as far as she’s concerned, the Fed will not be reducing the pace of asset purchases for a long time. Indeed, Brainard spoke of the possible […]
FED’S GEORGE: TOO SOON TO THINK OF ADJUSTING MONETARY POLICY; MUST ‘WAIT AND SEE’
–Fed Won’t Hike Funds Rate If Inflation Goes Over 2% –Would Have To Decide How To React if Inflation Rises in ‘Unanticipated Ways’ By Steven K. Beckner (MaceNews) – Kansas City Fed President George said Tuesday that monetary policy needs to “remain accommodative for some time” and said it’s “too soon to speculate about the […]
FED’S BOSTIC: READY TO ‘RECALIBRATE’ POLICY IF ECON STRONG BUT DON’T SEE 2021 HIKES
By Steven K. Beckner (MaceNews) – Atlanta Federal Reserve Bank President Raphael Bostic said Monday he would be willing to consider “recalibrating” the Fed’s monetary policy stance if the economy proves stronger than expected, but said he can’t envision raising the federal funds rate from near zero until next year at the earliest. Bostic, a […]
DATA PREVIEW: RETAIL SALES AND INFLATION MEASURES
WASHINGTON (MaceNews) – Economic data in the week ahead includes the December retail sales report, along with the two major inflation measures, the CPI just a week from Inauguration Day and the PPI but market participants are unlikely to pay much attention. The major stock indexes were propelled back into record territory Friday, in part […]
EVANS: MON. POLICY WELL POSITIONED NOW; DECIDE IN SPRING ABOUT MORE QE
Can Adjust Pace, Duration of Bond Buys If Decide Need More Accommodation Not Concerned About Rising Bond Yields If Reflect Stronger Recovery Don’t Raise Funds Rate Until Inflation Overshoots 2%, Averages 2% By Steven K. Beckner (MaceNews) – Chicago Federal Reserve Bank President Charles Evans suggested Monday that, as far as he’s concerned, it would […]
DATA PREVIEW: PERSONAL INCOME, REVISED GDP AND MUCH MORE
WASHINGTON (MaceNews) – It’s time for Christmas already, and the holiday and the fact Christmas Eve is now a federal holiday as well has rearranged some of the week’s data reports. Yet with the possible exception of the weekly claims report, now coming Wednesday morning, very little if any of the week’s data is expected […]
FED’S POWELL: TO TAKE A LONG TIME TO RAISE INFL RATE
–Virus Resurgence to Hit First-Quarter Economy By Denny Gulino WASHINGTON (MaceNews) – Federal Reserve Chair Jay Powell Wednesday said reaching the inflation target is going to take “some time” in an environment of disinflation around the world, when price pressure in any sector is no longer persistent. In the near term, however, he warned the […]
FOMC: RATES NEAR ZERO THRU 2023
WASHINGTON (MaceNews) – The Federal Open Market Committee, as expected, stood still in its latest policy statement Wednesday, accompanied by quarterly projections that saw the federal funds rate at 0.1% through 2023. The following is the text of the FOMC statement: The Federal Reserve is committed to using its full range of tools to support […]
STATUS CHECK COMMENTARY: A SPECIAL DAY, A SPECIAL VACCINE
WASHINGTON (MaceNews) – The following is Monday’s status check of developments in the U.S. that can influence economic, health and political outcomes. A special day, certainly. The first vaccinations, the Electoral College certification of the Biden win, Geraldo Rivera on Fox News saying, “It’s over.” And a few Senate Republicans, certainly not all, finally late […]
DATA PREVIEW: RETAIL SALES, HOUSING STARTS, FED MEETING
By Denny Gulino WASHINGTON (MaceNews) – The November retail sales report from the Census Bureau is the highlight among the upcoming week’s economic data with housing starts along for the ride, readings in two industries doing better than expected during the pandemic. Retail sales through October were up 5.7% from a year earlier according to […]