WHITE HOUSE WATCH COMMENTARY: STATES BLAST AHEAD TO ‘PHASE ZERO’
By Denny Gulino WASHINGTON (MaceNews) – At last, just one more day of the infernal White House guidelines before they “fade out” and the new guidelines for reopening take over, the ones lots of states are already ignoring. Yes, 18 or 19 states are still sticking with strict stay-at-home orders but they’ll come along soon. […]
FOMC POLICY STATEMENT – ‘COMMITTED TO USING FULL RANGE OF TOOLS’
Following is the text of the FOMC policy statement issued on April 29: The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. The coronavirus outbreak is causing tremendous human and economic hardship across the […]
WHITE HOUSE WATCH COMMENTARY: STRUCTURAL CHANGE NOT ALWAYS INTENTIONAL
By Denny Gulino WASHINGTON (MaceNews) – Huge disruptions, pandemics and wars, can cause fundamental changes down the line that were not anticipated and which were hard to recognize at the time. Which brings us to the Federal Reserve in this time of crisis. Wednesday afternoon Chairman Jerome Powell will be explaining to the world the […]
FULL COVID SHUTDOWN IMPACT WILL BE ON DISPLAY IN NEXT WEEK’S US DATA
By Kevin Kastner WASHINGTON (MaceNews) – After a week that showcased weakness in the U.S. housing market, analysts and financial market participants should prepare themselves for even more disappointing data next week. The mid-week FOMC meeting gives the Committee an opportunity to offer more consoling words, but any new actions would be even more appreciated. […]
NY FED’S WILLIAMS: TOO SOON TO KNOW SCALE OF ECONOMIC DISRUPTION
NEW YORK (MaceNews) – The full scale of economic fallout from the COVID-19 pandemic remains unknown, but the Federal Reserve has acted decisively to support recovery, New York Fed President John Williams said Thursday. “Although stresses in financial markets will not entirely abate until the pandemic is behind us, we have seen material improvements in […]
DATA FLASH: US RETAIL SALES PLUNGE 8.7% AS CONSUMERS STAYED HOME
–Food Store Sales Jump 25.6%, Most Other Categories Fall Sharply–Empire State Index Drops to -78.2 in April from -21.5 in March–Industrial Production Falls 5.4%, Manufacturing Down 6.3%, Lows Since 1946 By Kevin Kastner WASHINGTON (MaceNews) – As U.S. consumers heeded government warnings to remain home to mitigate the spread of COVID-19, and most business were […]
FED’S POWELL WARNS AGAINST ‘FALSE STARTS’ RE REOPENING
–Up to $2.3 Trillion in Virus-Related Emergency Support -Powell: Not Worrying About Inflation By Denny Gulino WASHINGTON (MaceNews)- Federal Reserve Chair Jay Powell Thursday explained more about how the central bank is remaking itself to keep intact the structure of an enfeebled economy and he joined the chorus of voices warning against returning to work […]
FED LAUNCHES NEW PACKAGE OF $2.3 TRILLION IN CREDITS
By Steven K. Beckner (MaceNews) – The Federal Reserve’s aggressive credit easing measures since early March have steadied financial markets, though not the economy, but not content to rest on its laurels, the Fed continues to innovate and explore the full extent of its emergency lending powers. The Fed, in conjunction with the U.S. Treasury, […]
TEXT: FED DETAILS MAIN ST., OTHER LENDING FACILITIES
WASHINGTON (MaceNews) – The following is the Federal Reserve announcement of details of its new Main Street lending facilities and other programs, released Thursday morning: The Federal Reserve on Thursday took additional actions to provide up to $2.3 trillion in loans to support the economy. This funding will assist households and employers of all sizes […]
FOMC CONF CALL MINUTES DOCUMENT START OF A NEW ERA
-Fed’s Mester Wanted Smaller Cut March 15 Meet; March 2 Unanimous WASHINGTON (MaceNews) – The Federal Open Market Committee conference call meeting minutes from the beginning of the central bank’s massive reaction to the corona virus demand destruction, released Wednesday, are interesting history but relatively irrelevant given the evolution since of the crisis. Facing deteriorating […]