FOMC Policy Statement: Tapering ‘May Soon be Warranted’
WASHINGTON (MaceNews) – The Federal Open Market Committee Wednesday put off any declarations on when it might begin the tapering process other than saying “it may soon be warranted.” Inflation? It’s still largely transitory.. The text of the statement follows: The Federal Reserve is committed to using its full range of tools to support the […]
BOJ Keeps Easing Stance, Sees Resilient Japan Economic Pickup Amid Pandemic
By Max Sato (MaceNews) – The Bank of Japan said Wednesday it is maintaining its stimulative policy, as expected, to support a gradual recovery from the pandemic-caused slump and continue its eight-year-old campaign to guide low inflation toward stable 2%. The central bank largely left its view on Japan’s resilient economic pickup amid the pandemic […]
BOC Chief: Uncertain How Long Canada’s ‘Transitory’ CPI Spike Lasts; Need Watch
— Macklem: After QE Tapering, Reinvestment, BOC Will Raise Rates — Macklem: Canada Q2 GDP Slump Caused by Supply Chain Disruptions — Macklem: Easing Global Supply Chain Constraints Could Take Time By Max Sato (MaceNews) – The Bank of Canada still considers the recent surge in domestic inflation a temporary phenomenon but it is uncertain […]
Canada’s Central Bank Keeps Easing Stance To Support Pandemic-Hit Economy
By Max Sato (MaceNews) – Bank of Canada policy-makers are sticking to their stance to take their time unwinding quantitative easing amid growing uncertainty over global and domestic economic recovery. The bank’s Governing Council announced Wednesday that it is holding the target for overnight lending rates at 0.25% and maintaining the pace of weekly asset […]
Bank of England Appoints Former Goldman Sachs Analyst Huw Pill As Chief Economist
— Pill has also served at the ECB and the BoE LONDON (MaceNews) – Former Chief European Economist at Goldman Sachs, Huw Pill, will become chief economist at the Bank of England, the Bank revealed on Wednesday. Pill served at the investment bank until 2018 and has most recently lectured at Harvard Business School. Previously he […]
Jackson Hole: Fed Gets Easy Money Advice At Symposium From Presenters
By Steven K. Beckner (MaceNews) – As Federal Reserve policymakers try to calibrate the appropriate amount of monetary stimulus for an economy still recovering from the Covid virus and experiencing unpredictable cross currents in labor and other markets, they received plenty of advice from presenters at the Fed’s annual Jackson Hole symposium Friday. Most of […]
Cautious Powell Stops Short of Signaling Near-Term Tapering In Jackson Hole Talk
‘Progress’ on Employment Made But Much More Ground To Cover Cites Downside Risks From Delta Variant Warns Would Be ‘Mistake’ To Tighten Policy Too Soon By Steven K. Beckner (MaceNews) – A cautious Federal Reserve Chairman Jerome Powell Friday continued to indicate that the Fed is getting closer to scaling back asset purchases, but stopped […]
FOMC Minutes Show Divisions On When To Start Tapering
–Some Favored Preparing To Taper ‘Relatively Soon;’ Others Counseled ‘Patience’ –Discussions Took Place Amid ‘Quite High’ Uncertainty Before Strong July Jobs Data By Steven K. Beckner (MaceNews) – Federal Reserve officials began to seriously consider when and how to reduce asset purchases at the July 27-28 meeting of the Fed’s policymaking Federal Open Market Committee, […]
The July FOMC Meeting Saw Divergent Views on Tapering Timing
WASHINGTON (MaceNews) – As described at the time by Federal Reserve Chair Jay Powell, the July 27-28 Federal Open Market Committee saw a variety of views about when to start the tapering progress, exhibiting considerably more caution than much of the subsequent Fedspeak advocating faster action, the minutes of the meeting suggested Wednesday. The section […]
Chicago Fed’s Evans: ‘We’re Well on Our Way’ Toward Tapering
– Taper Could Begin Early Next Year Following December Decision By Steven K. Beckner (MaceNews) – Chicago Federal Reserve Bank President Charles Evans sounded noticeably less reluctant to begin scaling back asset purchases Tuesday. Evans, talking to reporters via Webex, said the economy is “well on its way” to meeting the Fed’s employment and inflation […]