FED’S BEIGE BK: SEVERE DISRUPTIONS CONTINUE; NO QUICK RECOVERY SEEN
–Some Recent Improvement in Autos –Not Seeing Full Hirebacks WASHINGTON (MaceNews) – The Federal Reserve’s latest Beige Book survey of economic activity across the country Wednesday chronicled the continuing – and in some regions, deepening – severe disruption caused by the pandemic with some Districts finding low expectations for a quick rebound and complete rehirings. […]
DATA PREVIEW: US REGIONAL DATA, CONFIDENCE KEY RELEASES
By Kevin Kastner WASHINGTON (MaceNews) – The May 25 week starts off with the Memorial Day holiday, but it quickly speeds up from there. Regional conditions data for May are the highlight of the week, with reports from the Philadelphia, Dallas, Richmond and Kansas City Federal Reserve banks and the Chicago PMI on tap ahead […]
FED’S CLARIDA: HAVEN’T CHANGED MIND VS NEGATIVE RATES
NEW YORK (MaceNews) – Federal Reserve Vice Chair Richard Clarida Thursday said he has not changed his mind, that there’s no upside to purposely move to negative rates. Speaking in a webinar sponsored by the New York Association for Business Economics, Clarida also underlined the points made Wednesday and previously by Fed Chair Jay Powell, […]
FED’S WILLIAMS: OUTLOOK UNCERTAIN; TO USE TOOLS ‘TO THE UTMOST’ FOR RECOVERY
NEW YORK (MaceNews) – The Federal Reserve remains open to taking more steps as needed to support the recovery, though negative interest rates are not on the table, New York Fed President John Williams said Thursday. Williams, answering questions during a webcast with a regional business group, said the economic outlook and the likely course […]
WHITE HOUSE WATCH COMMENTARY: ’MY DECISION TO MAKE,’ THE NEW VIRUS ANTHEM
By Denny Gulino WASHINGTON (MaceNews) – A few loose ends remain but this whole virus thing is about to be wrapped up, with all the states reopening to some degree, so far no virus rebound evident and a vaccine candidate or two coming along fine. Once that vaccine is nailed down and a few hundred […]
FED’S POWELL/US TSY’S MNUCHIN: MAIN ST LENDING MAYBE BY EARLY JUNE
–June To Be Very Difficult for Jobs –Ready to Take Losses on Emergency Loans WASHINGTON (MaceNews) – Even as parts of the economy sputter into a small-scale reactivation hundreds of billions of dollar of government support are poised to be deployed beginning in the next two weeks, the Treasury secretary and Federal Reserve chairman said […]
FED’S ROSENGREN: MUST NOT GIVE UP PROGRESS ON CONTAINING VIRUS IN RUSH TO REOPEN
NEW YORK (MaceNews) – U.S. economic challenges reflect public health concerns, and it’s critical that progress on containing Covid-19 not be undone as businesses and other activities reopen, Boston Fed President Eric Rosengren said Tuesday. “Public health solutions are paramount – without them, it will be virtually impossible to return to full employment,” Rosengren said […]
WHITE HOUSE WATCH: VACCINE BREAKTHROUGH AND THE STEALTH VIRUS TASK FORCE
By Denny Gulino WASHINGTON (MaceNews) – There were clues Monday that the White House Corona Virus Task Force still exists, a sighting of two of its members and the disclosure by Treasury Secretary Steve Mnuchin that he will attend Task Force meetings this week. Otherwise there was no sign of the NIH’s Tony Fauci nor […]
WHITE HOUSE WATCH COMMENTARY: SOMETHING WORSE THAN EITHER SIDE WINNING?
By Denny Gulino WASHINGTON (MaceNews) – All eyes are now on the 2020 presidential election – the words every day from every cable network and, from time to time, maybe the question should be raised, why? First, back to headquarters for late breaking virus news, like the CBS “60 Minutes” interview with Federal Reserve Chair […]
DATA PREVIEW: FEWER DATA POINTS IN THE MAY 18 WEEK, BUT NOT LESS NEGATIVITY
By Kevin Kastner WASHINGTON (MaceNews) – After an overflow of data Friday, there is a breather coming in the May 18 week, but that doesn’t mean there won’t be anything for markets and analysts to focus on. Housing data takes up much of the schedule, starting with the National Association of Home Builders’ Housing Market […]