CHICAGO FED’S EVANS: FACTORIES SHOW SIGNS OF ADAPTING TO MEET HEALTH CHALLENGES
NEW YORK (MaceNews) – The economic outlook remains uncertain, but steps by manufacturers to protect workers from Covid-19 in the workplace show how businesses can adapt and recovery can unfold, Chicago Fed President Charles Evans said Monday. Evans, in remarks prepared for delivery in a virtual meeting with the Lansing, Michigan Chamber of Commerce, recounted […]
WHITE HOUSE WATCH COMMENTARY: MARKETS HAPPY, PRESIDENT”S OPTIMISTIC
By Denny Gulino WASHINGTON (MaceNews) – The week ends with once again everything that involves the corona virus falling neatly into place : the stock markets end a stellar string of positive trading days, the president said we don’t even need a vaccine and at least 45 states have some reopenings under way despite the […]
US TREASURY TO LIFT AUCTION SIZES TO MEET MASSIVE BORROWING NEED
By Kevin Kastner WASHINGTON (MaceNews) – The U.S. Treasury plans to raise the sizes of all its nominal securities auctions to meet the pressing fiscal need of the COVID-19 crisis, their quarterly refunding statement released on Wednesday showed. On Monday, Treasury had announced that it expected to borrow $3 trillion in the current quarter, much […]
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 […]
ECB SEES POSSIBLE 15% SLUMP IN Q2; LEAVES RATES ON HOLD
By Laurie Laird LONDON (MaceNews) – The European Central Bank expanded its emergency liquidity program following Thursday’s governing council meeting, but declined to reduce interest rates, despite the eurozone suffering its biggest-ever downturn in the first quarter. “We are facing an economic contraction of a magnitude and speed … unprecedented in peacetime,” said ECB President […]
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 […]
FOMC POLICY STATEMENT – ‘COMMITTED TO USING FULL RANGE OF TOOLS’
Following is the text of the FOMC policy statement issued on April 29: The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. The coronavirus outbreak is causing tremendous human and economic hardship across the […]
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 […]