FOMC Seems Ready To Tip Toe Toward Tapering At Mid-June Meeting
–Powell Could Signal Consideration of Less Bond Buying Is Coming By Steven K. Beckner (MaceNews) – Movement away from the most aggressively expansionary monetary policy in the Federal Reserve’s history may seem glacial, but it is not imperceptible. It seems clear, as the mid-June Federal Open Market Committee meeting approaches, that a shift in sentiment […]
Fed’s Beige Book Sees ‘Somewhat Faster Rate’ of Activity, With Higher Prices, Disruptions Offset Somewhat by High Demand
WASHINGTON (MaceNews) – The Federal Reserve’s Beige Book survey of economic conditions coast to coast, prepared for the mid-June FOMC meeting, Wednesday reflected faster growth, higher prices, supply disruptions and firms struggling to cope while benefiting from strong demand coupled with inadequate hiring candidates. The survey, prepared by the Cleveland Federal Reserve Bank up to […]
Fed’s Quarles: Inflation Rise ‘Sufficient’ To Start Thinking About Tapering ‘Soon’
– But Says Fed Can Afford To Be ‘Patient’ About Firming Monetary Policy By Steven K. Beckner (MaceNews) – The Federal Reserve is getting closer to a time when it will need to consider scaling back its asset purchases, now that it has gotten “sufficient” evidence of rising inflation, Fed Vice Chairman for Supervision Randal Quarles said Wednesday. Quarles also suggested the […]
Friday Washington Schedules from MaceNews
WASHINGTON (MaceNews) – The following are Friday’s public schedules for the White House, Treasury, the State Department, the Capitol and for upcoming economic data and Federal Reserve events: The White House DAILY GUIDANCE AND PRESS SCHEDULE FORFRIDAY, MAY 21, 2021 In the morning, the President will receive the President’s Daily Brief in the Oval Office. […]
FOMC Minutes Underline Stand-Still Stance With Promise of Ample Advance Notice of Tapering
WASHINGTON (MaceNews) – The minutes of last month’s Federal Open Market Committee meeting Wednesday repeated the emphasis on eventual ample advance notice of any tapering, and did not go as far as a couple of district bank presidents have since in suggesting the time is near to think about thinking about such a policy move. […]
US Data Preview: Housing Starts, FOMC Minutes, Existing Home Sales
WASHINGTON (MaceNews) – A relatively quiet week on the economic data front in the coming week, with the FOMC minutes replay machine giving us the origin story of all the FedSpeak we’ve been hearing again, and again, and … The end-of-week victory for “transitory” was the most notable development looking backwards. The prophets of accelerating […]
Fed’s Bostic: Fed Far From Goals; Need to Keep ‘Accommodative Mode’
By Steven K. Beckner GDP Level Almost 100% Back, But 8 Million Jobs Short Would Want Adjust Policy If Economy Overheats But ‘Far In Future’ Brainard Urges Patience to Generate Enough Momentum To Reach Goals (MaceNews) – Although the economy has come a long way, it still has far to go to return to full […]
FOMC Stands Pat; Powell Gives No Hint of Less Easy Monetary Stance
By Steven K. Beckner (MaceNews) – Despite mounting signs of economic recovery, Federal Reserve policymakers voted Wednesday to maintain their super loose credit policies, and Chairman Jerome Powell gave no hint the Fed is ready to become less aggressively expansionary. The Fed’s rate-setting Federal Open Market Committee FOMC did make significant changes in its policy […]
FOMC Stands Still as Expected, Acknowledges Economy has ‘Strengthened’
WASHINGTON (MaceNews) – The Federal Open Market Committee Wednesday fulfilled every expectation for doing nothing to alter policy of patience as anti-virus measures progress. The text of the policy statement follows: The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its […]
Wednesday Washington Schedules from MaceNews
WASHINGTON (MaceNews) – The following are Wednesday’s schedules for the White House, Treasury, the State Department, the Capitol and for upcoming economic data and Federal Reserve events: The White House DAILY GUIDANCE AND PRESS SCHEDULE FORWEDNESDAY, APRIL 28, 2021 In the morning, the President will receive the President’s Daily Brief in the Oval Office. This meeting […]