US Data Preview: Jobs Report, Powell Speaks, Beige Bk, ISMs
WASHINGTON (MaceNews) – The week ahead features January’s jobs report and, the day before, Federal Reserve Chair Jay Powell talking about jobs. With the escalation of the 10-year yield lately, a lot of viewers of the Wall Street Journal Jobs Summit appearance would rather he talk about inflation, credit costs, the way measures of inflation […]
Bank of England Chief Economist Haldane Flags Inflation Risk
By Laurie Laird LONDON (MaceNews) — A key Bank of England rate setter publicly queried the Monetary Policy Committee’s forecast of quiescent price pressures in 2021, warning against “central bank complacency” after a long period of below-target inflation. “My judgement is that we might see a sharper and more sustained rise in UK inflation than expected, potentially overshooting its […]
ECB’s Schnabel Stresses ‘Duration’ of Monetary Policy Support
— Governing Council member Isabel Schnabel suggests limited scope for further rate cuts, QE By Laurie Laird LONDON (MaceNews) — A top European central banker acknowledged Friday the bank’s limited scope for further rate cuts and asset purchases, suggesting the ECB communicate its commitment to extend policy support over the longer term. “When financing conditions […]
Fed’s Bullard: Want To See Economic Progress Materialize Before Consider Policy Adjustment
By Steven K. Beckner (MaceNews) – St. Louis Federal Reserve Bank President James Bullard was upbeat about the economic outlook Thursday, but said he is not ready to start considering any scaling back of the Fed’s ultra-easy monetary policy. He told reporters he is not concerned about the recent spike in bond yields and does […]
KC Fed’s George: ‘Too Early To Discuss Pulling Back’ Monetary Ease
– Be ‘Patient’ For Now, But Must ‘Reconsider’ Policy Settings as Virus Fog Clears – Not Worried About Rising Yields, Breakevens Now, But Watch Wages, Prices By Steven K. Beckner (MaceNews) – Kansas City Federal Reserve Bank President Esther George said Thursday that, for now, the Fed needs to be “patient” in maintaining an accommodative […]
Fed’s Powell Again Signals No Rush to Taper Asset Purchases
By Steven K. Beckner Want to See ‘Actual Progress’ Toward Employment, Inflation Goals Downplays Inflation, Financial Stability, Dollar Risks (MaceNews) – Federal Reserve Chairman Jerome Powell again Wednesday signaled that the Fed will maintain its ultra-easy monetary policy stance unabated for the foreseeable future. Powell, testifying for a second straight day on the Fed’s semiannual […]
Wednesday Washington Schedules from MaceNews
WASHINGTON (MaceNews) – The following are Wednesday’s public schedules for the White House, Treasury, the Capitol and for upcoming economic data: The White House DAILY GUIDANCE AND PRESS SCHEDULE FORWEDNESDAY, FEBRUARY 24, 2021 In the morning, the President will receive the President’s Daily Brief in the Oval Office. This meeting will be closed press. In the […]
Fed’s Powell: Fed Will Be ‘Patient’ About Lessening Monetary Support for the Recovery
By Steven K. Beckner (MaceNews) – Federal Reserve Chairman Jerome Powell pledged Tuesday the Fed will move “patiently” and with plenty of advance notice before it firms monetary policy. Powell, testifying before the Senate Banking Committee on the Fed’s semi-annual Monetary Policy Report to Congress, downplayed risks of excessive inflation and financial instability. He largely […]
US Data Preview: Fed’s Powell Testimony, Durable Goods Orders, Revised GDP, Personal Income, New Home Sales
WASHINGTON (MaceNews) – The week ahead features a little look-ahead and a lot of look back, with perhaps some hints at how the first quarter is performing and a lot about how the patient Federal Reserve hopes to see a continuing recovery. The least informative of the lot may be Thursday’s update of the fourth […]
Fed’s Rosengren: Bond Buying Will Continue Until ‘Substantially More’ Job, Inflation Gains
—Rosengren: Employment Remains ‘Well Below” Year Ago Levels By Steven K. Beckner (MaceNews) – Boston Federal Reserve Bank President Eric Rosengren advocated continued aggressive monetary and fiscal stimulus Friday. Given unsatisfactory labor market conditions, he suggested, the Fed will need to keep buying $120 billion of bonds for the foreseeable future. “Despite a potentially difficult […]