Category: FOMC

STATUS CHECK: NEXT WK, FOMC AND US GDP. MORE NASDAQ WOES?

WASHINGTON (MaceNews) – The following is Friday’s’ status check of developments in the U.S. that can influence economic, health and political outcomes: The VIX stayed about the same at 25.84 Friday after U.S. stocks were modestly negative for a second day. The DJIA finished -0.68%/-`82.94 and off 0.76% for the week. S&P -0.67%/-20.03 and also […]

DATA PREVIEW: THE COVID BILL COMES DUE WITH Q2 US GDP

By Kevin Kastner WASHINGTON (MaceNews) – All throughout the COVID-19 shutdown, everyone from talking heads to economists to politicians spoke about second quarter GDP in ominous terms – a data point that was way down the road at the time. So now here we are. The advance estimate of second-quarter GDP will be released Thursday […]

FED’S BEIGE BK: SOME BOUNCEBACK FROM STILL VERY LOW LEVELS

WASHINGTON (MaceNews) – The latest Federal Reserve Beige Book survey of economic conditions in all 12 Districts published Wednesday was particularly uninformative this time around, providing little insight beyond generally available information on what’s happening to guide the upcoming meeting of the Federal Open Market Committee. The summary and District-by-District snapshots, assembled by the Chicago […]

DATA PREVIEW: JUNE DATA SOLID, BUT COVID REBOUND LOOMS

By Kevin Kastner WASHINGTON (MaceNews) – The U.S. data for June have been generally positive, with a solid gain in nonfarm payrolls and the above-50 ISM readings for both the manufacturing and nonmanufacturing sectors. Of course, much of this was before several large states reported rebounds in their COVID-19 cases, so the silver cloud comes […]

FED’S DALY/BARKIN SEE HUGE PANDEMIC-CAUSED ECONOMIC CHALLENGES STILL TO COME

By Denny Gulino WASHINGTON (MaceNews) – The presidents of the Richmond and San Francisco Federal Reserve Banks Tuesday saw huge challenges ahead as government virus response programs ebb, landlords without rent payments pressure banks, displaced workers stay unemployed  and customers get less enthusiastic about visits to bricks and mortar establishments as the pandemic hangs on. […]

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, […]