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 […]
PREVIEW: FOMC TO REAFFIRM EASY MONEY POLICY; EXTEND FORWARD GUIDANCE TO BOND BUYING
By Steven K. Beckner (MaceNews) – For the Federal Reserve these days, it’s all about shaping and managing expectations – expectations for indefinite continuation of ultra-accommodative monetary policy. That effort will continue at the Fed’s Dec. 15-16 Federal Open Market Committee meeting. The FOMC heads toward its final meeting of 2020 amid very unusual circumstances […]
NABE SURVEY FINDS MIXED SIGNALS ON VIRUS EFFECT BUT A BETTER 2021
–For 2021 ‘A Dramatic Improvement From the October Survey’ WASHINGTON (MaceNews) – Members of the National Association for Business Economics Monday were of at least two minds about several pandemic related metrics, on the one hand taking a somewhat optimistic view that despite the virus surge, growth would only moderate, not tank in the near […]
STATUS CHECK COMMENTARY: IS PANDEMIC RELIEF CLOSER? REALLY?
WASHINGTON (MaceNews) – The following is Thursday’s status check of developments in the U.S. that can influence economic, health and political outcomes. It would be the biggest accomplishment of the House Problem Solvers Caucus, to be the catalyst for the passage of a pandemic relief package. The approximately half a hundred Republicans and Democrats who […]
FED’S BEIGE BK: FOUR DISTRICTS W/LITTLE OR NO GROWTH
WASHINGTON (MaceNews) – The Federal Reserve’s Beige Book survey of economic conditions from coast to coast, prepared for the final Federal Open Market Committee of the year in the middle of the month, not surprisingly Wednesday found a “modest” recovery marbled with seams of stagnancy as a resurgence of Covid-19 suppresses a lot of commerce. […]
STATUS CHECK COMMENTARY – THE MOON, MARS AND ON EARTH, THE A.G.
WASHINGTON (MaceNews) – The following is Tuesday’s status check of developments in the U.S. that can influence economic, health and political outcomes. First, it’s worth noting China’s little lander is running around on the Moon’s surface, scooping up stuff to ship back to Earth, an incredibly complicated mission. And that Elon Musk says his Space […]