Bank of Canada Governor Macklem: Rates May Be High Enough to Bring Inflation Back to 2% But No Clear Evidence Yet
–Macklem: We Are Taking One Meeting at a Time –Macklem: Need to Confirm Underlying Inflation Falling Before Discussing Lowering Rates –Macklem: Concerned about Short-Term Inflation Expectations Falling Slowly By Max Sato (MaceNews) – Bank of Canada Governor Tiff Macklem said Wednesday that the bank’s policy interest rate at 5% may be restrictive enough to bring […]
FOMC Minutes Show FOMC Still Mired In Uncertainty While Cautiously Pausing
WASHINGTON (MaceNews) – The minutes of the latest Federal Open Market Committee Tuesday showed the policy setting body remained mired in uncertainty, preserving the option to hike again if data and other factors signal any setbacks in the campaign to pressure aggressive inflation into a sturdy path toward the 2% target. Unexpectedly strong data, on […]
BofA Global Research Fund Manager Survey: Investors Prepare for Lower Yields in 2024
–Seventy-six percent of managers convinced Fed rate hike cycle over –Geopolitics become number one “tail risk” by Vicki Schmelzer NEW YORK (MaceNews) – Global investors prepared for lower yields in November, with cash levels falling and allocation to stocks and bonds on the rise, according to the findings of BofA Global Research’s monthly fund manager […]
Fed’s Powell: ‘Not Confident’ Fed Policy ‘Sufficiently Restrictive’ To Curb Inflation
– Will ‘Proceed Carefully,” But Ready To Raise Rates Further If Needed By Steven K. Beckner (MaceNews) – Federal Reserve Chair Jerome Powell continued Thursday to leave open the option for further monetary tightening, despite rampant Wall Street speculation that the Fed’s next move might be to ease credit. Powell said the Fed is not […]
Bank of Japan October Meeting Summary: Must Watch Pay Hikes for Fiscal 2024 Onward as Key to Positive Wages-to-Inflation Cycle
–Members Agree Central Bank Needs to ‘Patiently’ Continue with Monetary Easing for Now Amid High Uncertainty By Max Sato (MaceNews) – Bank of Japan board members stressed that they need to closely monitor wage negotiations between major firms and their labor unions that take place in the early parts of next year as they […]
FOMC Stays On Hold But Tilts Toward Another Funds Rate Hike
– Powell: Policy ‘Restrictive’ But Must Be Confident It’s ‘Sufficiently Restrictive’ – Powell: FOMC Not Considering Rate Cuts Or Halting Quantitative Tightening – Powell: ‘Proceed Carefully’ In Deciding How Much More Higher Rates May Go – Powell Declines To Say Bond Yield Spike Substitutes For Fed Rate Hikes By Steven K. Beckner (MaceNews) – The […]
TRANSCRIPT: Fed Chair Powell’s Post-FOMC Q&A
WASHINGTON (MaceNews) – The transcript of Federal Reserve Chair Jerome Powell’s post-FOMC news conference: .>> Good afternoon, everyone. Welcome. My colleagues and I remain squarely focused on our dual mandate to promote maximum employment and stableness for the American people.
FOMC Keeps Rates Unchanged And Preserve Possibility of Future Tightening; Financial Conditions Tighter
WASHINGTON (MaceNews) – The Federal Open Market Committee Wednesday fulfilled expectations for a stand-still policy statement, noting financial and credit conditions have tightened and job gains have moderated – “but remain strong.” The barer-bones statement, very similar to the language in the preceding statement, follows: Recent indicators suggest that economic activity expanded at a strong […]
White House and Other Schedules for Wednesday, Nov 1
WASHINGTON (MaceNews) – The following are Wednesday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as U.S. economic data and Federal Reserve events: DAILY GUIDANCE AND PRESS SCHEDULEFOR WEDNESDAY, NOVEMBER 1, 2023 In the morning, the President will receive the President’s Daily Brief. This meeting in the Oval Office […]
BOJ Makes 1% Upper End of 10-Year JGB Yield Flexible ‘Reference,’ Not Definite Line to Defend, But Keeps Official Target at ‘Around Zero’
–Vote on Making Yield Curve Control More Flexible Is 8-to-1 –Board Member Nakamura Dissents Again, Should Wait Until Bank Can Confirm Firms’ Earning Power Is Up –BOJ Board Keeps Basic Easing Stance Unanimously To ‘Patiently’ Pursue Stable 2% Inflation By Max Sato (MaceNews) – The Bank of Japan said Tuesday its policy board decided in […]