FOMC PREPARES FOR FIRST MEETING IN NEW MONETARY FRAMEWORK ERA
By Steven K. Beckner (MaceNews) – There was very little chance the Federal Reserve was going to raise interest rates anytime soon but, just to make sure, the Fed’s rate-setting Federal Open Market Committee gave itself a dual justification for holding rates down indefinitely with the new monetary policy framework it announced on Aug. 27 […]
FED’S EVANS: ‘PARTISAN POLITICS’ THREATENS FISCAL RELIEF; POSES ‘SIGNIFICANT DOWNSIDE RISK’
NEW YORK (MaceNews) – Political wrangling threatens needed fiscal support for the U.S. economy, and poses a big downside risk, Chicago Fed President Charles Evans said Thursday. In unusually blunt language, Evans called out politicians for lack of action, saying the expiration of an array of federal programs threatens the recovery, and that more fiscal […]
FED’S BEIGE BK SEES MIXED ECONOMY, ‘STALLED’ IN NY, STRONG IN CHI
WASHINGTON (MaceNews) – The latest Federal Reserve Beige Book survey of economic activity in all 12 regional districts Wednesday found a mixed picture, with a wide range of outcomes from “stalled” in the New York district to “strongly” improved in Chicago. Generally the survey prepared by the Minneapolis bank for the next Federal Open Market […]
FED’S WILLIAMS: NEW FRAMEWORK STRENGTHENS FED HAND IN TARGETING MAXIMUM EMPLOYMENT, PRICE STABILITY
NEW YORK (MaceNews) – The Fed’s new policy framework targeting average inflation over time puts the central bank in a stronger position to meet its employment and inflation goals, New York Fed President John Williams said Wednesday. “The new framework statement directly and effectively addresses the problems caused by a low neutral rate and persistently […]
ANALYSIS: FED CAN NOW HAVE FULL-THROATED RECOVERY FOCUS ON JOBS
By Denny Gulino WASHINGTON (MaceNews) – The pandemic’s destruction of U.S. employment was not the trigger for the new Federal Reserve policy framework, in the works long before the virus hit. However the jobs crisis is a perfectly appropriate context for the focus on employment. That focus had already become the hallmark of the Jay […]
POWELL: FED WILL BE FLEXIBLE WITH AVERAGE INFLATION TARGETING, ACT AS NEEDED
By Steven K. Beckner (MaceNews) – Federal Reserve Chair Jerome Powell said Thursday the Fed will be “flexible” in pursuing a new “average inflation targeting” regime and not use any set “mathematical formula.” Powell, elaborating on what he called a “robust” new monetary policy strategy framework adopted earlier by the Fed’s policy-making Federal Open Market […]
TEXT: FED’S GUIDE TO LONGER-RUN GOALS, MONPOL STRATEGY
WASHINGTON (MaceNews) – The following is the text of the Federal Reserve’s guide to the changes in its longer-run goals and monetary policy strategy that was released along with Fed Chair Jay Powell’s remarks Thursday morning: In the revised Statement on Longer-Run Goals and Monetary Policy Strategy shown below, bold red text shows additions and […]
STATUS CHECK: OF SIDESHOWS AND MAIN EVENTS
WASHINGTON (MaceNews) – The following is Thursday’s status check of developments in the U.S. that can influence economic, health and political outcomes: In the latter half of August, all kinds of news. Another former top aide to the president indicted. A 77-year-old white man accepts the nomination to be president. A coronal mass ejection – […]
EXCLUSIVE-DALLAS FED’S KAPLAN FOR ‘RESTRAINT’ IN DOING MORE MONETARY STIMULUS
–‘Quite A Ways’ From Considering Rate Hikes, But Cautions About More QE –Concerned About Dollar, Potential Longer Run Inflation, Financial Instability By Steven K. Beckner (MaceNews) – Dallas Federal Reserve Bank President Robert Kaplan said the Fed is “quite a ways” from considering raising interest rates, but advocated “restraint” in doing more to stimulate the […]
STATUS CHECK: IF YOU CAN’T SAY SOMETHING NICE … SPEAK AT THE DNC
WASHINGTON (MaceNews) – The following is Wednesday’s status check of developments in the U.S. that can influence economic, health and political outcomes: The exposition of democratic ideals brought down to Earth or simply a political culture war, the insults flew, the arrows of invective were launched at the enemy, the Democrats railed against the man […]