ECB’S SCHNABEL CALLS FOR A EURO CARBON TAX
— Chastises investors for under-pricing the risk of climate changeBy Laurie Laird LONDON (MaceNews) – A top European central banker Monday rebuked investors for under-pricing the risk of climate change and called for a global carbon price to challenge the ecological and financial harm presented by global warming. “A global climate price is the most […]
ECB’S LAGARDE UNVEILS NEW TRANSPARENCY MEASURES
–Gives no clues as to future monetary policy in an address to an EU committee By Laurie Laird LONDON (MaceNews) – Europe’s top central banker Monday promised greater transparency in its communications with the European Parliament, stepping up efforts to enhance public accountability following a rebuke from German court back in May. Effective immediately, the […]
STATUS CHECK: SOLEMNITY AND THE USUAL DISCORDANT NOTES
WASHINGTON (MaceNews) – The following is Thursday’s status check of developments in the U.S. that can influence economic, health and political outcomes. The quiet day-long procession of Americans paying respect to Ruth Bader Ginsburg was the day’s solemn background music, an impressive tribute to a remarkable woman. And then President Trump came by, wearing a […]
BANK OF ENGLAND’S CHIEF ECONOMIST PREDICTS PERMANENT SCARRING TO THE LABOUR MARKET
By Laurie Laird LONDON (MaceNews) – The UK labour market could suffer permanent scarring as a result of the coronavirus, according to a top central banker. “There’s a good chance that coronavirus will” accelerate a shift toward knowledge-based digital industries that was already in train before the pandemic ravaged the economy, Bank of England Chief […]
STATUS CHECK: WHOSE COGNITIVE ILLUSION IS BETTER?
WASHINGTON (MaceNews) – The following is Wednesday’s status check of developments in the U.S. that can influence economic, health and political outcomes. So much for a Wednesday. Noise perhaps. Confusion. Ominous sometimes, repetitious often and sadly, no longer surprising. Hardly news but too important to be ignored. Beginning with President Trump, in his evening news […]
FED’S ROSENGREN WARNS OF COVID RECURRENCE, HIT TO LENDERS AS BAD LOANS RISE
NEW YORK (MaceNews) – Boston Fed President Eric Rosengren Wednesday warned of a possible credit crunch as small- and medium-sized lenders see rising non-performing loans as a second wave of the Covid-19 pandemic strikes and more business go bankrupt. Rosengren, in remarks for delivery to the Boston Economic Club, warned of “more substantial headwinds” for […]
STATUS CHECK: DANCING AWAY FROM GRIM 200,000
WASHINGTON (MaceNews) – The following is Tuesday’s status check of developments in the U.S. that can influence economic, health and political outcomes Yes, everyone is focusing on the obscene 200,000 death toll, actually 201,800 by one count by now, just as “Status Check” did Monday night. And 33 states now seeing higher case rates again, […]
BANK OF ENGLAND’S BAILEY SETS THE STAGE FOR RATE CUT
By Laurie Laird LONDON (MaceNews) – The UK’s top central banker sketched out the details of the Bank of England’s deliberations on sub-zero interest rates on Tuesday, dropping his heaviest hint yet that rates could fall into negative territory over the medium term. “We’ve got to work with the banks” to ensure that negative rates don’t […]
STATUS CHECK: MANY STORIES, MUCH POLITICS, ONE BIG REALITY
WASHINGTON (MaceNews) – The following is Monday’s status check of developments in the U.S. that can influence economic, health and political outcomes Top of the Monday news, simply the 200,000 coronavirus deaths in the United States. OK, maybe 182 short of that according to John Hopkins University of Medicine. By Tuesday it will be there. […]
ECB’S LAGARDE: RECOVERY REMAINS UNCERTAIN; GOV COUNCIL MONITORING EURO STRENGTH
— ECB President Makes No Mention of Any Review of Asset Purchases By Laurie Laird LONDON (MaceNews) – The eurozone economy faces an uncertain future, despite evidence of a robust third quarter rebound, according to the eurozone’s top central banker. “While incoming data suggest that we will see a strong rebound during the third quarter, […]