Atlanta Fed’s Bostic: Upside Inflation Risks Show Need to Start Tapering
–Sees First Funds Rate Hikes ‘More Than A Year Off’ –Doubts Tapering Will Have Much Economic or Financial Impact –Price Stability ‘Could Be On The Line In Coming Months’ –Persistent Wage-Price Pressures Could ‘Unanchor’ Inflation Expectations By Steven K. Beckner (MaceNews) – Atlanta Federal Reserve Bank President Raphael Bostic sounded somewhat of an alarm about […]
<strong>Japan Sentiment Picks Up on Vaccine Rollout But Q3 GDP Seen Slower</strong>
By Max Sato (MaceNews) – Japan’s sentiment surveys painted a rosier picture as the government has lifted its Covid-19 state of emergency on heavily hit regions, setting the stage for gradually reopening the economy, but global supply chain disruptions remain a major hindrance to recovery. The monthly Economy Watchers Survey, which was conducted by the […]
BOJ Sept Key Tankan Business Sentiment Up But Outlook Uncertain
— Higher Energy, Commodities Markets Support Some Producers— Automakers Report Worse Sentiment As Supply Constrains Linger— Face-To-Face Service Providers Suffer Amid Covid-19 Spike— BOJ Survey Also Shows Companies Revise Up FY21 Capex Plans By Max Sato (MaceNews) – Higher energy and commodities prices this year further boosted confidence among many manufacturers, big and small, while […]
Dallas Fed’s Kaplan, Boston’s Rosengren Departures Leaves Many Questions So Far Unanswered
By Denny Gulino WASHINGTON (MaceNews) – New rules goverinng how Federal Reserve officials handle their personal finances are now imminent as the Fed tries to get them in place before Congress imposes new rules of its own and meanwhile questions abound as to how the case of the Dallas regional bank president has been handled. […]
ECB’S Lagarde Downplays Prospect of Early Eurozone Rate Hike Despite Rising Inflation
— HICP expected to top 3% in December LONDON (MaceNews) – Eurozone interest rates are likely to remain at record lows for the foreseeable future, with the recent rise inflation seen as temporary, according to European Central Bank President Christine Lagarde. “The key challenge is to ensure that we do not overreact to transitory supply shocks,” […]
NY Fed’s Williams: Taper ‘May Soon Be Warranted’ If Progress Continues
– If Start Taper Soon, Can Be ‘Smooth,’ Not Disruptive – Ending Taper By Mid-2022 ‘Reasonable’ – Inflation Test Met; ‘Lot of Progress’ Made On Employment – FOMC Shouldn’t Lift Off Too Soon; Want To Achieve Maximum Employment By Steven K. Beckner (MaceNews) – New York Federal Reserve Bank President John Williams strongly suggested he […]
Bundesbank: Crypto Tokens Should be Independent of Central and Commercial Banks
By Marco Babic ZURICH (MaceNews) – The systems designed around crypto tokens, such as Bitcoin, should be independent of central banks and commercial banks because it is their actions that determine the value of the underlying means of payment, the Bundesbank said in its monthly report for September. Bitcoin was introduced in 2008 with the […]
ECB Forum: Policy Statements Limited to Lagarde’s Opening Address
LONDON (MaceNews) – Any statement or expansion of European Central Bank policy at the annual policy forum scheduled Tuesday is likely to come from President Christine Lagarde’s opening statement scheduled for 1400 CET on Tuesday, according to senior ECB officials. Lagarde will kick off the ECB’s annual policy forum, an event usually held in the […]
2022 FOMC Voters George, Mester Agree Time To Start Tapering
Mester Sees Liftoff ‘By End Of Next Year’; Worse Inflation May Mean More George Wants to Raise Rates ‘Sooner Rather Than Later’ George Cites Financial Stability Risks As Key FOMC Concern By Steven K. Beckner (MaceNews) – Kansas City Federal Reserve Bank President Esther George and Cleveland Fed President Loretta Mester agreed Friday the time […]
MaceNewsViews – Commentary: Nihilism’s Dream – The US Defaults
By Denny Gulino WASHINGTON (MaceNews) – Those knowing think pieces and Op-Eds by veteran graybeards, scoffing at the super-hyped headlines about the dangers of a pending debt-limit impasse, should be reassuring. They’ve seen it all before, the six dozen or more times Congress allows the nation’s Treasury to start borrowing again, often at the last […]