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 […]
JACKSON HOLE: POWELL STAYS NONCOMMITTAL ON FURTHER RATE CUTS
By Steven K. Beckner (MaceNews) – Ever since the Federal Reserve’s policymaking Federal Open Market Committee cut interest rates modestly for the first time in 11 years on July 31, financial markets have been eagerly waiting to see what Chairman Jerome Powell’s monetary policy posture would be three weeks later at the Fed’s annual Jackson […]
FED’S POWELL: FIXATED ON DATA POINTS IN ‘EVENTFUL’ PRELUDE TO FOMC
WASHINGTON (MaceNews) – Key excerpts of Federal Reserve Chair Jerome Powell’s Jackson Hole speech Friday, “Challenges for Monetary Policy” with boldfaced emphasis added: People who live and work in low- and middle-income communities tell us that this job market is the best anyone can recall. We increasingly hear reports that employers are training workers who […]
FOMC MINUTES SHOW NO PROMISE OF MORE RATE CUTS
–Wanted to Avoid ‘Any Appearance of Following Pre-Set Course’ –Meandering Discussion Struggles for Consensus; Saw ‘Absence of Clarity’ –‘Uncertainty’ and ‘Uncertainties’ Make Frequent Appearances By Denny Gulino WASHINGTON (MaceNews) – The view that the top Federal Reserve policymakers are as confused as everyone else in an environment of sharply conflicting signals – strong domestic jobs […]
FED’S BULLARD: NEED TO WAIT, SEE IF MORE EASING NEEDED
By Steven K. Beckner WASHINGTON (MaceNews) – St. Louis Federal Reserve Bank President James Bullard said Tuesday the Fed “took out insurance” against trade-related risks to the economy by cutting interest rates last week and must now determine if more credit easing is needed.. In cutting rates, Bullard told the National Economics Club the central […]
FED’S BRAINARD AS STOCKS PLUNGE: ‘COMMITTED TO SUSTAINING THE EXPANSION
By Denny Gulino KANSAS CITY (MaceNews) – Federal Reserve Gov. Lael Brainard, as the Dow industrials were plunging to a loss of more than 800 points Monday, reiterated that the Fed “is committed to sustaining the expansion” and that the market developments are bineg monitored closely for any implications for future policy. Answering questions from […]
FED’S POWELL VAGUE ABOUT WHAT HAPPENS NEXT
–A Quarter-Point Cut and Then Maybe Another One – But Not a ‘Long’ Series By Denny Gulino WASHINGTON (MaceNews) – Federal Reserve Chairman Jerome Powell Wednesday said the day’s first rate cut in a decade is not necessarily the opening gun in an extended series but also not necessarily the only one, depending on whether […]
FOMC DELIVERS ITS QTR POINT CUT DESPITE ‘RISING’ ECONOMY
WASHINGTON (MaceNews) – The Federal Open Market Committee Wednesday delivered a bare-bones statement that aside from the expected quarter-point rate cut information contained less than usual characterizations of the economy, other than activity is “rising,” the labor market continues to be strong and inflation remains below target. The one additional nugget was that the balance […]