WHITE HOUSE WATCH COMMENTARY: THE ECONOMY STRAINS AS THE VIRUS KILLS
By Denny Gulino WASHINGTON (MaceNews) – It’s almost too painful to concentrate on the numbers in this week that is so full of death in the United States. Better to look to a better future and an economy that might begin staggering back at some point. The day saw more than an additional 1,800 dead, […]
NEW PHILADELPHIA FED SURVEY: ALMOST 25% OF DISTRICT COMPANIES SHUT DUE TO PANDEMIC
By Jon Hurdle PHILADELPHIA (MaceNews) – Almost a quarter of companies surveyed by the Federal Reserve Bank of Philadelphia temporarily shut down because of the coronavirus in the week ending March 29, the Philly Fed said Thursday in its first weekly survey https://www.philadelphiafed.org/-/media/research-and-data/regional-economy/covid-19-survey/2020/20200402-covid-19-bos-survey.pdf?la=en of how businesses in the Third District are responding to the pandemic. […]
WHITE HOUSE WATCH COMMENTARY: FEDERAL GOVT STILL CATCHING UP WITH VIRUS NEEDS
By Denny Gulino WASHINGTON (MaceNews) – What’s become a literal American deathwatch was a grinding slog on Wednesday with whatever major progress being made behind the scenes obscured by the questions on why progress is not faster. The evening’s Corona Virus Task Force briefing seemed more bogged down with vague answers rather than being illuminated […]
BOSTON FED’S ROSENGREN Q&A: DISTRESS AHEAD FOR HEAVILY LEVERAGED
–Pandemic Likely To Be A Bigger Financial Distress Problem NEW YORK (MaceNews) – Boston Federal Reserve Bank President Eric Rosengren opposed the pre-crisis rate cuts and now he is being proven right, the pandemic’s effects will be worse than otherwise because the Fed had less ammunition while some individuals and firms accumulated too much low-interest […]
FED’S ROSENGREN: UNEMPLOYMENT TO RISE ‘DRAMATICALLY’; FOCUSING ON PLIGHT OF WORKERS
NEW YORK (MaceNews) – The Federal Reserve is working to limit economic fallout from the pandemic and promote recovery, but unemployment is surging, and fiscal policy is “crucial,” Eric Rosengren, president of the Federal Reserve Bank of Boston, said Wednesday. “The Federal Reserve is working to limit the financial and economic distress – to take […]
WHITE HOUSE WATCH: ‘DIFFICULT TRADEOFFS;’ UNPRECEDENTED QE; ACCELERATING INFECTION
–US Fatalities Top 100 in One Day For First Time –Phase 3 Congressional Help Days Away At Best –Federal Reserve Goes Big, Bigger, Biggest By Denny Gulino WASHINGTON (MaceNews) – Americans who in even greater numbers are staying at home Monday were suddenly being asked to choose between two virus scenarios, one espoused by medical […]
WHITE HOUSE WATCH: MARKET FEAR PEAKS TOO EARLY? INFECTION RATE HIGHER
–Trump: ‘Convalescent Plasma’, Investigational Drugs Show Promise –FDA Says Investigational Therapies Months Away –US Oil Price Surges 23%; DJIA Closes +188 Pts; US 10-Yr 1.158%; VIX 72.00 By Denny Gulino WASHINGTON (MaceNews) – U.S. stocks indices started flapping in what seemed to be a changing wind Thursday, improving even in the face of rapidly worsening […]
FED’S WILLIAMS: STILL ASSESSING WHETHER MORE RATE CUTS NEEDED
NEW YORK (MaceNews) – New York Fed President John Williams Thursday declined to say he favored a rate cut at the next Federal Open Market Committee meeting, saying instead that policy-makers are still assessing the need for additional measures. Williams, speaking to reporters after a speech to an industry group, was asked whether he favored […]
FED’S WILLIAMS: OPEN MKT OPERATIONS HAVE STABILIZED MONEY MARKET, MAY ADJUST AS NEEDED
NEW YORK (MaceNews) – The Federal Reserve’s renewed program of open market operations has stabilized money markets and is keeping the federal funds rate at its target level, and the Fed may adjust its program as needed over time, New York Fed President John Williams said Thursday. Williams, in remarks prepared for delivery to a […]
FED’S EVANS: POLICY REVIEW INCLUDES MAXIMUM RATE OF EMPLOYMENT
By Suzanne Cosgrove CHICAGO (MaceNews) – Chicago Fed President Charles Evans Thursday said the Fed is continuing to review measures of its dual goals of price stability and maximum employment as part of an examination of its policy framework begun late last year. “One of the key questions facing us today is whether the economy […]