FOMC STATEMENT: BUSINESS INVESTMENT, EXPORTS ‘WEAKENED’
WASHINGTON (MaceNews) – The following is the text of Wednesday’s policy statement of the Federal Open Market Committee: Information received since the Federal Open Market Committee met in July indicates that the labor market remains strong and that economic activity has been rising at a moderate rate. Job gains have been solid, on average, in […]
ECB SETS NEW STIMULUS PACKAGE BUT QE SHORT OF MARKET EXPECTATION
By Laurie Laird FRANKFURT (MaceNews) – The European Central Bank unleashed a fresh wave of stimulus following Thursday’s rate-setting meeting, although the Bank’s renewed quantitative easing package fell short of expectations, with some council members dissenting from a decision to resume quantitative easing. The interest rate on the ECB’s deposit facility will fall by 10 […]
BOE’S CARNEY: CENTRAL BANKS HAVE TOOLS TO RESPOND TO SLOWDOWN, IF NEEDED
By Tony Mace NEW YORK (MaceNews) – Major central banks, including the Bank of England, have the tools and room to respond to a slowdown, if needed, BOE Governor Mark Carney said Tuesday. “The possibility of a slowdown has certainly gone up,” Carney said during an appearance at the Council on Foreign Relations. Asked whether […]
POWELL: U.S. ECONOMY TO EXTEND MODERATE GROWTH; RECESSION UNLIKELY
By Laurie Laird ZURICH (MaceNews) – The U.S. economy will continue growing at a moderate pace, buoyed by a robust service sector and strong household spending, according to Fed Chairman Jerome Powell. “The consumer’s in good shape, and the main expectation is not at all that there will be a recession,” Powell told a gathering […]
MANUFACTURING WEAKNESS HOLDS DOWN CHICAGO FED DISTRICT BUSINESS CONDITIONS
NEW YORK (MaceNews) – Manufacturing business conditions eroded in the Chicago region in July/August while non-manufacturing improved, according to the latest survey of Seventh Federal Reserve district business activity conducted by the Chicago Fed. The Chicago Fed’s Survey of Business Conditions Activity Index rose to −22 in the July/August survey period from −30 in the […]
FED OFFICIALS WEIGH MORE EASING SOON AMID UNCERTAINTIES
By Steven K. Beckner ST. LOUIS (MaceNews) – As Federal Reserve policy-makers prepare to consider further interest rate reductions in two weeks, supporters of the late July rate cut have become more unequivocal about the need for additional easing, and there are signs that erstwhile opponents are becoming more open to it. With corporate purchasing managers showing […]
FED’S BEIGE BK SHOWS MIXED RESULTS BUT NO DANGER SIGNS
WASHINGTON (MaceNews) – “Concerns,” “mixed” and “modest” were the key words in the latest Beige Book survey of national economic trends Wednesday, and while the overall picture was muddled it wasn’t overly negative. “Although concerns regarding tariffs and trade policy uncertainty continued, the majority of businesses remained optimistic about the near-term outlook,” the survey summary […]
BANK OF CANADA WARNS TRADE WORRIES HITTING ECONOMY
By Gordon Isfeld OTTAWA (MaceNews) – Global economic tension amid ongoing trade disputes, in particular the growing conflict between the United States and China, has led to weaker business investment overall, the Bank of Canada warned Wednesday. “Canada’s economy is operating close to potential and inflation is on target,” the country`s central bank said in its […]
FED’S WILLIAMS: ‘MORE WORK TO DO’ BEFORE FED DECIDES NEXT POLICY STEP
By Tony Mace NEW YORK (MaceNews) – Federal Reserve policy-makers are not yet ready to decide their next policy move, and their thinking hinges on domestic data and global economic conditions, New York Fed President John Williams said Wednesday. “We still have a lot of work to do – there’s more data, including the employment […]
BOSTON FED CHIEF: ‘NOT OVERLY WORRIED’ ABOUT US ECONOMY
By Scott Van Voorhis EASTON, Mass. (MaceNews) – Shrugging off stock market turbulence and a deepening trade war, Boston Federal Reserve Bank President Eric Rosengren is taking a bullish view of the health of the national economy. While Fed officials are keeping a close eye on potential recession indicators, Rosengren said he is fairly comfortable […]