NY FED SPELLS OUT ONGOING MONEY MARKET SUPPORT
NEW YORK (MaceNews) – The following is Friday’s New York Federal Reserve Bank notice that it will pump $75 billion a day into the money market for the next three weeks and in addition will offer three two-week repo operations of at least $30 billion each after which it will conduct “operations as necessary” to […]
FEDWATCH: CHAIR POWELL SEES “MEETING BY MEETING’ POLICY READY FOR ANYTHING
By Denny Gulino WASHINGTON (MaceNews) – Facing a renewed presidential onslaught and a Federal Open Market Committee split over rate cut policy, Federal Reserve Chair Jerome Powell Wednesday said that the day’s quarter-point cut is part of a “meeting by meeting” policy that is hard to anticipate. “We made one decision today,” he said at […]
FOMC STATEMENT: BUSINESS INVESTMENT, EXPORTS ‘WEAKENED’
WASHINGTON (MaceNews) – The following is the text of Wednesday’s policy statement of the Federal Open Market Committee: Information received since the Federal Open Market Committee met in July indicates that the labor market remains strong and that economic activity has been rising at a moderate rate. Job gains have been solid, on average, in […]
POWELL: U.S. ECONOMY TO EXTEND MODERATE GROWTH; RECESSION UNLIKELY
By Laurie Laird ZURICH (MaceNews) – The U.S. economy will continue growing at a moderate pace, buoyed by a robust service sector and strong household spending, according to Fed Chairman Jerome Powell. “The consumer’s in good shape, and the main expectation is not at all that there will be a recession,” Powell told a gathering […]
MANUFACTURING WEAKNESS HOLDS DOWN CHICAGO FED DISTRICT BUSINESS CONDITIONS
NEW YORK (MaceNews) – Manufacturing business conditions eroded in the Chicago region in July/August while non-manufacturing improved, according to the latest survey of Seventh Federal Reserve district business activity conducted by the Chicago Fed. The Chicago Fed’s Survey of Business Conditions Activity Index rose to −22 in the July/August survey period from −30 in the […]
FED OFFICIALS WEIGH MORE EASING SOON AMID UNCERTAINTIES
By Steven K. Beckner ST. LOUIS (MaceNews) – As Federal Reserve policy-makers prepare to consider further interest rate reductions in two weeks, supporters of the late July rate cut have become more unequivocal about the need for additional easing, and there are signs that erstwhile opponents are becoming more open to it. With corporate purchasing managers showing […]
FED’S BEIGE BK SHOWS MIXED RESULTS BUT NO DANGER SIGNS
WASHINGTON (MaceNews) – “Concerns,” “mixed” and “modest” were the key words in the latest Beige Book survey of national economic trends Wednesday, and while the overall picture was muddled it wasn’t overly negative. “Although concerns regarding tariffs and trade policy uncertainty continued, the majority of businesses remained optimistic about the near-term outlook,” the survey summary […]
FED’S WILLIAMS: ‘MORE WORK TO DO’ BEFORE FED DECIDES NEXT POLICY STEP
By Tony Mace NEW YORK (MaceNews) – Federal Reserve policy-makers are not yet ready to decide their next policy move, and their thinking hinges on domestic data and global economic conditions, New York Fed President John Williams said Wednesday. “We still have a lot of work to do – there’s more data, including the employment […]
BOSTON FED CHIEF: ‘NOT OVERLY WORRIED’ ABOUT US ECONOMY
By Scott Van Voorhis EASTON, Mass. (MaceNews) – Shrugging off stock market turbulence and a deepening trade war, Boston Federal Reserve Bank President Eric Rosengren is taking a bullish view of the health of the national economy. While Fed officials are keeping a close eye on potential recession indicators, Rosengren said he is fairly comfortable […]
JACKSON HOLE: POWELL STAYS NONCOMMITTAL ON FURTHER RATE CUTS
By Steven K. Beckner (MaceNews) – Ever since the Federal Reserve’s policymaking Federal Open Market Committee cut interest rates modestly for the first time in 11 years on July 31, financial markets have been eagerly waiting to see what Chairman Jerome Powell’s monetary policy posture would be three weeks later at the Fed’s annual Jackson […]