FED’S BOSTIC: HIGH-FREQUENCY DATA SHOW LEVELING OFF IN ECONOMY
NEW YORK (MaceNews)- Recent high-frequency economic data suggestthe recovery is slowing as virus infections rise, Atlanta Fed President Raphael Bostic said Tuesday. Bostic, in webinar remarks to the Tennessee Business Roundtable, said the economy is rebounding from its depths in the first part of the second quarter but “more recent economic data show the upward […]
TEXT: STAFF BRIEFS FOMC RE YIELD CURVE CAPS, FORWARD GUIDANCE, ASSET PURCH
— Simulations Suggest Highly Accommodative Conditions ‘For Many Years’ WASHINGTON (MaceNews) – The Federal Open Market Committee most recent meeting saw participants discuss all the pandemic-related effects and probabilities already covered in Fed speeches and comments since. However the FOMC minutes released Wednesday also had a unique disclosure, the staff briefing for participants on yield […]
DATA PREVIEW: WILL EMPLOYMENT REPORT PROVIDE EARLY FIREWORKS?
By Kevin Kastner WASHINGTON (MaceNews) – Before the Fourth of July holiday, there are plenty of opportunities for the June U.S. data to create further buzz after a partial recovery in May. The employment report released Thursday – early because of the pending holiday – is undoubtedly the highlight of the week ahead of Friday’s […]
FED’S ROSENGREN: MORE POLICY STIMULUS NEEDED; 2H REBOUND WEAK GIVEN VIRUS SPREAD
NEW YORK (MaceNews) – More fiscal and monetary stimulus will probably be needed given rising new Covid-19 cases in many states and a slower-than-hoped recovery, Boston Federal Reserve President Eric Rosengren said Friday. Rosengren, in remarks prepared for delivery at an online event, predicted the unemployment rate will remain in double digits through year end, […]
FED’S MESTER: ‘VERY ACCOMMODATIVE POLICY NEEDED’ WITH FUNDS RATE UNCH. THROUGH END 2022
NEW YORK MaceNews) – Cleveland Federal Reserve President Loretta Mester said monetary policy needs to stay “very accommodative” and she agrees with her colleagues that the federal funds target should remain unchanged through 2022. In remarks for delivery on a webinar, said she and her colleagues agree a recovery is under way beginning in the […]
FED’S POWELL: TO WATCH TO SEE IF CORP BOND BUYS NEEDED
–Don’t Want to Run Through Corporate Bond Market ‘Like an Elephant’ WASHINGTON (MaceNews) – Federal Reserve Chairman Jay Powell Tuesday underlined his question whether government’s coronavirus response will be sufficient, suggesting more will be needed, and he conceded the new “Main St.” lending program’s corporate bond purchases may no longer be as necessary as originally […]
FED’S DALY: READY TO ‘PIVOT’ TO STIMULUS WHEN VIRUS CRISIS ENDS
WASHINGTON (MaceNews) – The Federal Reserve’s emergency relief programs will give way to stimulus and a focus on lowering unemployment whenever the coronavirus crisis has ebbed, San Francisco Fed President Mary Daly said Monday. Speaking at a National Press Club-sponsored event and later to reporters, Daly said it would make no sense to focus on […]
FED’S KAPLAN Q&A: DUBIOUS ON YIELD CURVE TARGETING
–Dallas Fed President Says Businesses Face ‘Gut Check’ in August/September NEW YORK (MaceNews) – Dallas Fed President Robert Kaplan said Monday he is dubious about suggestions the Fed target interest rate levels along the US Treasury yield curve as a policy tool. Kaplan, responding to a question during a web appearance, said he would not […]
FED’S POWELL: DOING ALL WE CAN; WILL IT BE ENOUGH?
–‘Dot Plot’ Shows Assumptions of No Rate Hikes Through 2022 –To Sustain Pace of Treasuries, MBS Purchases By Denny Gulino WASHINGTON (MaceNews) – Federal Reserve Chair Jay Powell Wednesday offered reassurance policymakers are not even “thinking about thinking” about raising rates and shared his worries about possible long-term post-crisis unemployment. Answering questions after the Federal […]
FOMC POLICY STATEMENT JUNE 10, 2020
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 maximum employment and price stability goals. The coronavirus outbreak is causing tremendous human and economic hardship across the United States and around the world. The virus and the measures taken to […]