FOMC: ‘TO ACT AS APPROPRIATE;’ ‘PATIENCE’ GETS THE AXE
–‘Uncertainties About This Outlook Have Increased’ –St. Louis Fed’s Bullard Dissents WASHINGTON (MaceNews) – The Federal Open Market Committee Wednesday decided not to cut rates, triggering one member’s dissent, and promised only to “act as appropriate” while excising the word “patience.” The Committee generally stayed with its outlook but said “uncertainties” have increased. St. Louis […]
ANALYSIS: THE SADNESS OF BEING MERELY THE FEDERAL RESERVE
By Denny Gulino WASHINGTON (MaceNews) – Any clinical look at today’s economy and markets would have to acknowledge something unusual is happening, even that the world of money and international transactions may be hurtling into a future that is mottled with serious undefined risk. Mario Draghi said as much as he concluded his ECB news […]
FED’S BEIGE BK SURVEY SEES ‘SLIGHT IMPROVEMENT’
–Hardly a Mention of Trade WASHINGTON (MaceNews) – The modestly expanding national economy was on course through mid May, at least before the latest Mexican tariff threats and the massive Midwest flooding, showing a “slight improvement” with the possible exception of the St. Louis and Dallas districts, the Federal Reserve’s Beige Book survey showed Wednesday. […]
FED’S POWELL MAKES THE ‘FED PUT’ EXPLICIT RE TRADE TURBULENCE
–‘We Will Act as Appropriate’ to Sustain Expansion By Denny Gulino CHICAGO (MaceNews) – In a major announcement Tuesday, Federal Reserve Chairman Jerome Powell made the “Fed put” explicit, saying, “We will act as appropriate to sustain the expansion” in case of trade negotiation turbulence. He is making the remarks at a Chicago Fed conference […]
ANALYSIS: FIN RISKS ADD TO TRADE, INFL WORRIES TO STYMIE FED
By Steven K. Beckner AMELIA ISLAND, Fla. (MaceNews)– Nettlesome uncertainties about inflation, trade and now financial stability are keeping U.S. monetary policy stuck firmly where it’s at for the foreseeable future. For now, the economy is doing too well for the Federal Reserve to cut interest rates, but those concerns seem equally likely to prevent […]