FED’S ROSENGREN: MUST NOT GIVE UP PROGRESS ON CONTAINING VIRUS IN RUSH TO REOPEN
NEW YORK (MaceNews) – U.S. economic challenges reflect public health concerns, and it’s critical that progress on containing Covid-19 not be undone as businesses and other activities reopen, Boston Fed President Eric Rosengren said Tuesday. “Public health solutions are paramount – without them, it will be virtually impossible to return to full employment,” Rosengren said […]
FED’S POWELL WARNS OF DANGERS OF LONG SHALLOW RECOVERY
–Emergency Aid So Far May Be Only the Beginning –‘Recovery May Take Some Time to Gather Momentum’ — ‘Additional Fiscal Support Could Be Costly’ –Negative Rates ‘Not Something That We’re Looking At.” By Denny Gulino WASHINGTON (MaceNews) – The battle of recovery narratives – swift and sharp versus shallow and long – Wednesday saw one […]
FED’S HARKER: FED TO KEEP RATES LOW UNTIL A ‘DEMONSTRABLE MOVE’ TOWARD NORMAL ECONOMY
By Jon Hurdle PHILADELPHIA (MaceNews) – Philadelphia Federal Reserve President Patrick Harker said on Tuesday that interest rates will remain low until policy-makers see clear evidence that the economy is recovering from the Covid-19 pandemic. “We have committed in the FOMC to move rates to essentially zero. The Fed Funds rate is between zero and […]
ST. LOUIS FED’S BULLARD: US ECONOMIC REBOUND LIKELY IN 2H; NO NEGATIVE RATES
NEW YORK (MaceNews) – After its record drop in the second quarter, the US economy is likely to see a record rebound in the third quarter, St. Louis Federal Reserve President James Bullard said Tuesday. Bullard, answering questions during a webcast, said a record rebound in the third quarter is likely, a “big plus number,” […]
FED’S CLARIDA, BULLARD LOOK FOR ECONOMIC RECOVERY THIS YEAR
–US Stocks Sag When Clarida Reminds Fed Emergency Lending Only Temporary WASHINGTON (MaceNews) – Federal Reserve Vice Chair Richard Clarida Tuesday said recovery from the economic shutdown “can commence in the second half” while St. Louis Fed President James Bullard said he sees the fourth quarter as when the virus can be put “behind us.” […]
CHICAGO FED’S EVANS: ‘REASONABLE’ TO EXPECT RECOVERY BY 2H 2020, BUT LOOKING ‘QUARTER BY QUARTER’
By Suzanne Cosgrove CHICAGO (MaceNews) – After a sharp contraction in the first half, it is “reasonable” to expect the US economy to pick up in the second half of 2020, Chicago Federal Reserve Bank President Charles Evans said Tuesday. In a media conference call, Evans cautioned that he would have to evaluate economic conditions […]
WHITE HOUSE WATCH COMMENTARY: STATES BLAST AHEAD TO ‘PHASE ZERO’
By Denny Gulino WASHINGTON (MaceNews) – At last, just one more day of the infernal White House guidelines before they “fade out” and the new guidelines for reopening take over, the ones lots of states are already ignoring. Yes, 18 or 19 states are still sticking with strict stay-at-home orders but they’ll come along soon. […]
FOMC, CHAIR POWELL HOLDING ON TIGHT, ALL IN FOR DURATION
–‘Not Going To Run Out of Money’ –Time to Use the ‘Great Fiscal Power’ Of the Country By Denny Gulino WASHINGTON (MaceNews) – The Federal Open Market Committee, echoed by Federal Reserve Chair Jay Powell, Wednesday signaled only firm determination to fight the damage from the economic shutdown, whatever it takes, reassuring the markets, Wall […]
WHITE HOUSE WATCH COMMENTARY: STRUCTURAL CHANGE NOT ALWAYS INTENTIONAL
By Denny Gulino WASHINGTON (MaceNews) – Huge disruptions, pandemics and wars, can cause fundamental changes down the line that were not anticipated and which were hard to recognize at the time. Which brings us to the Federal Reserve in this time of crisis. Wednesday afternoon Chairman Jerome Powell will be explaining to the world the […]
FULL COVID SHUTDOWN IMPACT WILL BE ON DISPLAY IN NEXT WEEK’S US DATA
By Kevin Kastner WASHINGTON (MaceNews) – After a week that showcased weakness in the U.S. housing market, analysts and financial market participants should prepare themselves for even more disappointing data next week. The mid-week FOMC meeting gives the Committee an opportunity to offer more consoling words, but any new actions would be even more appreciated. […]