BOSTON FED’S ROSENGREN Q&A: DISTRESS AHEAD FOR HEAVILY LEVERAGED
–Pandemic Likely To Be A Bigger Financial Distress Problem NEW YORK (MaceNews) – Boston Federal Reserve Bank President Eric Rosengren opposed the pre-crisis rate cuts and now he is being proven right, the pandemic’s effects will be worse than otherwise because the Fed had less ammunition while some individuals and firms accumulated too much low-interest […]
FED OFFICIALS IN MORE CAUTIOUS, PATIENT MOOD AS FOMC MEETING NEARS
By Steven K. Beckner (MaceNews) – Those hoping for further aggressive credit easing by the Federal Reserve or for an indefinite continuation of interest rate cuts are likely to be disappointed, barring a weaker than expected U.S. economic performance or some event that significantly darkens the economic outlook beyond what Fed officials now envision. The […]
FOMC MINUTES: ROBUST DISCUSSION AND WEAK CONSENSUS
WASHINGTON (MaceNews) – The weak consensus for another rate cut at the most recent FOMC meeting did not appear to be reinforced by any large enthusiasm for more accommodation to come although participants were willing to keep an open mind about future data, according to the minutes of the meeting published Wednesday. The uncertainty seen […]
FOMC STATEMENT: BUSINESS INVESTMENT, EXPORTS ‘WEAKENED’
WASHINGTON (MaceNews) – The following is the text of Wednesday’s policy statement of the Federal Open Market Committee: Information received since the Federal Open Market Committee met in July indicates that the labor market remains strong and that economic activity has been rising at a moderate rate. Job gains have been solid, on average, in […]
FOMC MINUTES SHOW NO PROMISE OF MORE RATE CUTS
–Wanted to Avoid ‘Any Appearance of Following Pre-Set Course’ –Meandering Discussion Struggles for Consensus; Saw ‘Absence of Clarity’ –‘Uncertainty’ and ‘Uncertainties’ Make Frequent Appearances By Denny Gulino WASHINGTON (MaceNews) – The view that the top Federal Reserve policymakers are as confused as everyone else in an environment of sharply conflicting signals – strong domestic jobs […]
FOMC DELIVERS ITS QTR POINT CUT DESPITE ‘RISING’ ECONOMY
WASHINGTON (MaceNews) – The Federal Open Market Committee Wednesday delivered a bare-bones statement that aside from the expected quarter-point rate cut information contained less than usual characterizations of the economy, other than activity is “rising,” the labor market continues to be strong and inflation remains below target. The one additional nugget was that the balance […]
FOMC BEGINS WITH CASE FOR RATE CUT STILL NOT CLEAR CUT
–The Boeing 737 MAX Rate Cut? By Denny Gulino WASHINGTON (MaceNews) – If the Federal Open Market Committee wanted some cover to back out of a rate cut Wednesday it could look no farther than toward the Treasury Department which Monday declared, “Downside risks in the second half of 2019 appear to be lessening.” Of […]
FOMC: ‘TO ACT AS APPROPRIATE;’ ‘PATIENCE’ GETS THE AXE
–‘Uncertainties About This Outlook Have Increased’ –St. Louis Fed’s Bullard Dissents WASHINGTON (MaceNews) – The Federal Open Market Committee Wednesday decided not to cut rates, triggering one member’s dissent, and promised only to “act as appropriate” while excising the word “patience.” The Committee generally stayed with its outlook but said “uncertainties” have increased. St. Louis […]