BANK OF CANADA EMERGENCY MEASURES STATE OF PLAY
By Gloria Galloway OTTAWA (MaceNews) – The Bank of Canada has joined other banks around the word in making credit more available and affordable to consumers and financial institutions as the Covid-19 pandemic causes unprecedented upheaval to the global economy. The financial situation in Canada and elsewhere continues to be stressed as a result of […]
WHITE HOUSE WATCH: ‘DIFFICULT TRADEOFFS;’ UNPRECEDENTED QE; ACCELERATING INFECTION
–US Fatalities Top 100 in One Day For First Time –Phase 3 Congressional Help Days Away At Best –Federal Reserve Goes Big, Bigger, Biggest By Denny Gulino WASHINGTON (MaceNews) – Americans who in even greater numbers are staying at home Monday were suddenly being asked to choose between two virus scenarios, one espoused by medical […]
WHITE HOUSE WATCH: MARKET FEAR PEAKS TOO EARLY? INFECTION RATE HIGHER
–Trump: ‘Convalescent Plasma’, Investigational Drugs Show Promise –FDA Says Investigational Therapies Months Away –US Oil Price Surges 23%; DJIA Closes +188 Pts; US 10-Yr 1.158%; VIX 72.00 By Denny Gulino WASHINGTON (MaceNews) – U.S. stocks indices started flapping in what seemed to be a changing wind Thursday, improving even in the face of rapidly worsening […]
CANADA PLANS $82 BLN IN PANDEMIC RELIEF PACKAGE
By Gloria Gallloway OTTAWA (MaceNews) – Canada is promising $82 billion in financial relief to soften the blow of the pandemic crisis that is causing massive upheaval and uncertainty in this country and around the world. Prime Minister Justin Trudeau announced Wednesday that his government would provide up to $27 billion in direct support for […]
INCOMING ECB HEAD LAGARDE URGES EUROPEAN STRUCTURAL REFORM
By Laurie Laird FRANKFURT (MaceNews) – The incoming president of the European Central Bank stressed the importance of structural reform and expansionary fiscal policy in her final public speech before taking over the reins of the bank, echoing the increasingly-urgent calls of her predecessor, Mario Draghi. Addressing leaders of Europe’s financial and political worlds, Christine Lagarde […]
DRAGHI: ECB COUNCIL ‘UNIFIED’ DESPITE POLITICAL PRESSURE ON RATE SETTERS
By Laurie Laird FRANKFURT (MaceNews) – European Central Bank rate setters have largely settled their policy disagreements, according to ECB President Mario Draghi, while acknowledging that global central banks are coming under increasing political pressure. Addressing reporters after his final meeting, Draghi described a “general call for unity” among governing council members, after a number […]
FED’S WILLIAMS: STILL ASSESSING WHETHER MORE RATE CUTS NEEDED
NEW YORK (MaceNews) – New York Fed President John Williams Thursday declined to say he favored a rate cut at the next Federal Open Market Committee meeting, saying instead that policy-makers are still assessing the need for additional measures. Williams, speaking to reporters after a speech to an industry group, was asked whether he favored […]
FED’S WILLIAMS: OPEN MKT OPERATIONS HAVE STABILIZED MONEY MARKET, MAY ADJUST AS NEEDED
NEW YORK (MaceNews) – The Federal Reserve’s renewed program of open market operations has stabilized money markets and is keeping the federal funds rate at its target level, and the Fed may adjust its program as needed over time, New York Fed President John Williams said Thursday. Williams, in remarks prepared for delivery to a […]
FED’S EVANS: POLICY REVIEW INCLUDES MAXIMUM RATE OF EMPLOYMENT
By Suzanne Cosgrove CHICAGO (MaceNews) – Chicago Fed President Charles Evans Thursday said the Fed is continuing to review measures of its dual goals of price stability and maximum employment as part of an examination of its policy framework begun late last year. “One of the key questions facing us today is whether the economy […]
FED’S BEIGE BK SEES ‘SLIGHT TO MODEST’ EXPANSION
—Many Business Contacts ‘Lowered Their Outlooks for Growth’ WASHINGTON (MaceNews) – The Beige Book survey of economic conditions Wednesday was heavy on the use of “slightly,” “slowing, “subdued” and “stable,” reflecting the kind of growth depletion depicted in the unexpected decline in the morning’s report on retail sales. The survey, to be reviewed at the […]