CHICAGO FED’S EVANS: ‘WOULDN’T MIND’ ANOTHER RATE CUT
By Suzanne Cosgrove CHICAGO (MaceNews) – Chicago Federal Reserve President Charles Evans told reporters Tuesday that he “wouldn’t mind” another 25 basis point interest rate cut at the next FOMC meeting, depending on what the data suggests ahead of the meeting. Speaking to reporters following a luncheon address to the Rotary Club at the Union […]
FED’S EVANS SEES CURRENT RATES AT APPROPRIATE LEVELS, BUT LEAVES EASING DOOR OPEN
By Laurie Laird FRANKFURT (MaceNews) – U.S. interest rates currently reflect the “fundamental” resilience of the economy, according to an influential Federal Reserve policy maker, in line with the latest outlook provided by the central bank, suggesting a holding pattern for monetary policy. “The setting of the funds rate at the moment is appropriate for […]
US BEA: SOURCES OF REVISION TO 2Q US GDP
WASHINGTON (MaceNews) – The following is the technical note explaining the offsetting elements of change in the third reading of second quarter U.S. GDP which kept the growth rate at 2.0%, as expected: Sources of Revision to Real GDP Real GDP increased 2.0 percent (annual rate) in the second quarter of 2019, the same as […]
CHICAGO FED’S CHARLES EVANS: CURRENT RATES ‘WELL-POSITIONED,’ BUT REMAINS OPEN TO DISCUSSION
By Suzanne Cosgrove Lake Forest, Illinois (MaceNews) – Chicago Federal Reserve President Charles Evans said Wednesday the Fed was “well-positioned from a risk-management standpoint,” following the September quarter-point interest rate cuts. However, Evans said he would continue to evaluate incoming data through the end of the year, and is open-minded to its discussion. He cited […]
ST. L FED BULLARD: SLOWING ECON, LOW INFL JUSTIFIED MORE EASE
By Steven K. Beckner EFFINGHAM, ILL. (MaceNews) – St. Louis Federal Reserve Bank President James Bullard. warning an already slowing economy could continue to slow more than expected, strongly suggested Monday that more credit easing is needed, but said it is possible the Fed will be able to “take back” some or all of its […]
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 […]