FOMC MINUTES: ROBUST DISCUSSION AND WEAK CONSENSUS
WASHINGTON (MaceNews) – The weak consensus for another rate cut at the most recent FOMC meeting did not appear to be reinforced by any large enthusiasm for more accommodation to come although participants were willing to keep an open mind about future data, according to the minutes of the meeting published Wednesday. The uncertainty seen […]
CHICAGO FED’S EVANS: ‘WOULDN’T MIND’ ANOTHER RATE CUT
By Suzanne Cosgrove CHICAGO (MaceNews) – Chicago Federal Reserve President Charles Evans told reporters Tuesday that he “wouldn’t mind” another 25 basis point interest rate cut at the next FOMC meeting, depending on what the data suggests ahead of the meeting. Speaking to reporters following a luncheon address to the Rotary Club at the Union […]
US JOBS RPT SHOWS WAGE GROWTH SLOWS EVEN AS UNEMP RATE IMPROVES
By Denny Gulino WASHINGTON (MaceNews) – The September jobs report Friday, with 136,000 payroll slots added, was modestly positive for hiring and the 50-year-low unemployment rate of 3.5% was everything a labor market economist could hope for, yet there was a shadow cast overall, a slowing of wage growth that suggested prosperity is ebbing. Manufacturing […]
FED’S EVANS SEES CURRENT RATES AT APPROPRIATE LEVELS, BUT LEAVES EASING DOOR OPEN
By Laurie Laird FRANKFURT (MaceNews) – U.S. interest rates currently reflect the “fundamental” resilience of the economy, according to an influential Federal Reserve policy maker, in line with the latest outlook provided by the central bank, suggesting a holding pattern for monetary policy. “The setting of the funds rate at the moment is appropriate for […]
US BEA: SOURCES OF REVISION TO 2Q US GDP
WASHINGTON (MaceNews) – The following is the technical note explaining the offsetting elements of change in the third reading of second quarter U.S. GDP which kept the growth rate at 2.0%, as expected: Sources of Revision to Real GDP Real GDP increased 2.0 percent (annual rate) in the second quarter of 2019, the same as […]
CHICAGO FED’S CHARLES EVANS: CURRENT RATES ‘WELL-POSITIONED,’ BUT REMAINS OPEN TO DISCUSSION
By Suzanne Cosgrove Lake Forest, Illinois (MaceNews) – Chicago Federal Reserve President Charles Evans said Wednesday the Fed was “well-positioned from a risk-management standpoint,” following the September quarter-point interest rate cuts. However, Evans said he would continue to evaluate incoming data through the end of the year, and is open-minded to its discussion. He cited […]
ST. L FED BULLARD: SLOWING ECON, LOW INFL JUSTIFIED MORE EASE
By Steven K. Beckner EFFINGHAM, ILL. (MaceNews) – St. Louis Federal Reserve Bank President James Bullard. warning an already slowing economy could continue to slow more than expected, strongly suggested Monday that more credit easing is needed, but said it is possible the Fed will be able to “take back” some or all of its […]
NY FED SPELLS OUT ONGOING MONEY MARKET SUPPORT
NEW YORK (MaceNews) – The following is Friday’s New York Federal Reserve Bank notice that it will pump $75 billion a day into the money market for the next three weeks and in addition will offer three two-week repo operations of at least $30 billion each after which it will conduct “operations as necessary” to […]
WHITE HOUSE WATCH: FLYING BLIND ON RATES AND MUCH ELSE
By Denny Gulino THE WHITE HOUSE (MaceNews)– President Trump Thursday said despite his personal attacks, from “boneheads” to Wednesday’s “terrible communicator,” he is not going to try to remove Jerome Powell from the helm of the Federal Reserve. By mid afternoon Trump had tweeted no additional attacks on Powell or other Fed leadership and had […]
FEDWATCH: CHAIR POWELL SEES “MEETING BY MEETING’ POLICY READY FOR ANYTHING
By Denny Gulino WASHINGTON (MaceNews) – Facing a renewed presidential onslaught and a Federal Open Market Committee split over rate cut policy, Federal Reserve Chair Jerome Powell Wednesday said that the day’s quarter-point cut is part of a “meeting by meeting” policy that is hard to anticipate. “We made one decision today,” he said at […]