FOMC TO STAND PAT IN SEEKING MORE INFLATION, EMPLOYMENT
–Fed Officials Agree in Principle; Only Time Will Tell On Implementation By Steve Beckner (MaceNews) – Important questions but only tentative answers abound as the Federal Reserve approaches its first monetary policy meeting of the new year in a mood to await further economic, financial and, yes, public health developments before changing its policy settings. […]
FED’S POWELL: NOW NOT TIME TO TALK ABOUT EXIT; WON’T CONSIDER UNTIL GOALS REACHED
— Vows To Communicate Very Clearly To Markets To Avoid 2013-style ‘Taper Tantrum’ By Steven K. Beckner (MaceNews) – Federal Reserve Chairman Jerome Powell stressed Thursday that the Fed is far from “exiting” either its zero short-term interest rate stance or its aggressive asset purchase program and proclaimed that the Fed will clearly communicate its […]
FED’S BEIGE BK SEES MODEST EXPANSION AMID MIXED SIGNALS
WASHINGTON (MaceNews) – The surge in COVID-19 cases and “stricter containment measures” have produced mixed results for consumer spending while manufacturing has continued to recover despite weaker auto sales, the Federal Reserve’s Beige Book survey suggested Wednesday. Four districts – Kansas City, Philadelphia, St. Louis and New York – reported no improvement and “a growing […]
FED’S GEORGE: TOO SOON TO THINK OF ADJUSTING MONETARY POLICY; MUST ‘WAIT AND SEE’
–Fed Won’t Hike Funds Rate If Inflation Goes Over 2% –Would Have To Decide How To React if Inflation Rises in ‘Unanticipated Ways’ By Steven K. Beckner (MaceNews) – Kansas City Fed President George said Tuesday that monetary policy needs to “remain accommodative for some time” and said it’s “too soon to speculate about the […]
FED’S BOSTIC: READY TO ‘RECALIBRATE’ POLICY IF ECON STRONG BUT DON’T SEE 2021 HIKES
By Steven K. Beckner (MaceNews) – Atlanta Federal Reserve Bank President Raphael Bostic said Monday he would be willing to consider “recalibrating” the Fed’s monetary policy stance if the economy proves stronger than expected, but said he can’t envision raising the federal funds rate from near zero until next year at the earliest. Bostic, a […]
DATA PREVIEW: RETAIL SALES AND INFLATION MEASURES
WASHINGTON (MaceNews) – Economic data in the week ahead includes the December retail sales report, along with the two major inflation measures, the CPI just a week from Inauguration Day and the PPI but market participants are unlikely to pay much attention. The major stock indexes were propelled back into record territory Friday, in part […]
EVANS: MON. POLICY WELL POSITIONED NOW; DECIDE IN SPRING ABOUT MORE QE
Can Adjust Pace, Duration of Bond Buys If Decide Need More Accommodation Not Concerned About Rising Bond Yields If Reflect Stronger Recovery Don’t Raise Funds Rate Until Inflation Overshoots 2%, Averages 2% By Steven K. Beckner (MaceNews) – Chicago Federal Reserve Bank President Charles Evans suggested Monday that, as far as he’s concerned, it would […]
FED’S POWELL: TO TAKE A LONG TIME TO RAISE INFL RATE
–Virus Resurgence to Hit First-Quarter Economy By Denny Gulino WASHINGTON (MaceNews) – Federal Reserve Chair Jay Powell Wednesday said reaching the inflation target is going to take “some time” in an environment of disinflation around the world, when price pressure in any sector is no longer persistent. In the near term, however, he warned the […]
FOMC: RATES NEAR ZERO THRU 2023
WASHINGTON (MaceNews) – The Federal Open Market Committee, as expected, stood still in its latest policy statement Wednesday, accompanied by quarterly projections that saw the federal funds rate at 0.1% through 2023. The following is the text of the FOMC statement: The Federal Reserve is committed to using its full range of tools to support […]
DATA PREVIEW: RETAIL SALES, HOUSING STARTS, FED MEETING
By Denny Gulino WASHINGTON (MaceNews) – The November retail sales report from the Census Bureau is the highlight among the upcoming week’s economic data with housing starts along for the ride, readings in two industries doing better than expected during the pandemic. Retail sales through October were up 5.7% from a year earlier according to […]