<strong>White House and Other Schedules for Wednesday, Jan 4</strong>

WASHINGTON (MaceNews) – The following are Wednesday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as U.S. data and Federal Reserve events:    DAILY GUIDANCE AND PRESS SCHEDULE FOR WEDNESDAY, JANUARY 4, 2023 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed press. Later, the President […]

TRANSCRIPT: Fed’s Powell Answers Reporters’ Questions after FOMC Decision

WASHINGTON (MaceNews) – The following is the Federal Reserve’s transcript of Fed Chair Jerome Powell’s news conference Wednesday, which followed the Federal Open Market Committee police statement: OPENING STATEMENT IN PROGRESS: substantially more evidence to give confidence that inflation is on a sustained downward path.       Price pressures remain evident across a broad range of […]

FOMC Raises Fed Funds Rate by 50 BPS As Expected; ‘Dot Plot’ More Hawkish Than Expected

WASHINGTON (MaceNews) – The Federal Open Market Committee Wednesday announced a 50 -basis point rate hike, just as expected, with the participants’ quarterly projections slightly more hawkish than expected. The “dot plot’ raised expectations for the so-called terminal rate, where the fed funds rates will rest at the end of the hiking cycle: Otherwise, the […]

<strong>White House and Other Schedules for Wednesday, Dec 14</strong>

WASHINGTON (MaceNews) – The following are Wednesday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as U.S. data and Federal Reserve events:    DAILY GUIDANCE AND PRESS SCHEDULE FOR WEDNESDAY, DECEMBER 14, 2022   In the morning, the President will receive the President’s Daily Brief. This meeting will be closed press. In the […]

<strong>FOMC, Powell Face Tricky Communication Task in Slowing Rate Hike Pace</strong>

– Key To Watch Is How Much Higher Fed Officials Move Their 2023 Rate Dots By Steven K. Beckner (MaceNews) – The Federal Reserve has well prepared financial markets for another “unusually large” interest rate increase in mid-December – just not quite as aggressive as we’ve seen since the spring. The Fed, nevertheless, is struggling […]

Fed’s Beige Book Survey Takes Negative Turn; Seven Districts Flat or Down

WASHINGTON (MaceNews) – After years of readings of “modest to moderate” expansion, the latest Federal Reserve Beige Book survey of economic conditions coast to coast Wednesday assumed a negative cast, with a majority of Fed regional banks reported no expansion or declines. “Interest rates and inflation continued to weigh on activity” the survey found. Consumers […]

FOMC Minutes See Participants Acknowledge Possible Need to Slow Pace of Tightening

WASHINGTON (MaceNews) – Wednesday’s minutes of the latest Federal Open Market Committee meeting contained several references to a possibility the pace of rate hikes could soon slow while emphasizing the more important consideration is the still unspecified ultimate terminal rate. The less-hawkish-than expected minutes turned U.S. stock markets from mild negatives to moderate positives, at […]

<strong>White House and Other Schedules for Wednesday, Nov 23</strong>

WASHINGTON (MaceNews) – The following are Wednesday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as U.S. data and Federal Reserve events: WEEK AHEAD GUIDANCE FORTHE WEEK OF NOVEMBER 24, 2022 – NOVEMBER 27, 2022  Sunday, November 27, 2022 The President and the First Lady will return to Washington, DC.  DAILY GUIDANCE AND PRESS […]

Cleveland Fed’s Mester: Funds Rate ‘Only Beginning to Become Restrictive’

– Funds Rate Must Become ‘More Restrictive’; Stay So “for a While’ – Risks Of Tightening Too Little Outweigh Risks Of Tightening Too Much – Welcomes Oct. CPI Report But Warns of ‘Upside Risks,’ Wage Pressures – Reducing Inflation Will Mean ‘Pain’; Unemployment May Need Rise More Than Anticipated By Steven K. Beckner (MaceNews) – […]