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 […]
PREVIEW: FOMC TO REAFFIRM EASY MONEY POLICY; EXTEND FORWARD GUIDANCE TO BOND BUYING
By Steven K. Beckner (MaceNews) – For the Federal Reserve these days, it’s all about shaping and managing expectations – expectations for indefinite continuation of ultra-accommodative monetary policy. That effort will continue at the Fed’s Dec. 15-16 Federal Open Market Committee meeting. The FOMC heads toward its final meeting of 2020 amid very unusual circumstances […]
FED’S BEIGE BK: FOUR DISTRICTS W/LITTLE OR NO GROWTH
WASHINGTON (MaceNews) – The Federal Reserve’s Beige Book survey of economic conditions from coast to coast, prepared for the final Federal Open Market Committee of the year in the middle of the month, not surprisingly Wednesday found a “modest” recovery marbled with seams of stagnancy as a resurgence of Covid-19 suppresses a lot of commerce. […]
FOMC MINUTES: MOST PARTICIPANTS WANTED TO TONE UP ASSET PURCHASES GUIDANCE
WASHINGTON (MaceNews) – The Federal Reserve’s top policymakers wanted to gear forward guidance more to explaining how asset purchases would remain calibrated to the state of the economy at their meeting at the beginning of the month, their minutes showed Wednesday. The suggestion for more definitive guidance, however, fell far short of expectations that the […]