Fed’s Powell: Progress Made, But Economy Not Yet At ‘Substantial Further Progress’
–Little Support For Faster Reduction in MBS Purchases. By Steven K. Beckner (MaceNews) – Federal Reserve Chairman Jerome Powell continued Wednesday to set the stage for eventual reductions in the Fed’s large-scale asset purchases, and gave no clear signal as to when “tapering” could commence. For the time being, the policy making Federal Open Market […]
BOE’S Vlieghe Urges Extension of Loose Policy; Sets Stage for Debate at August MPC Meeting
By Laurie Laird LONDON (MaceNews) – A key Bank of England rate setter recommended an extension of loose monetary policy, teeing up what could be a vigorous debate at the next rate-setting meeting, after two officials have publicly made the case for tightening. “I think it will remain appropriate to keep the current monetary stimulus in […]
Monday Washington Schedules from MaceNews
WASHINGTON (MaceNews) – The following are Monday’s schedules for the White House, Treasury, the State Department, the Capitol and for upcoming Federal Reserve events: The White House DAILY GUIDANCE AND PRESS SCHEDULE FORMONDAY, JULY 26, 2021 In the morning, the President will receive the President’s Daily Brief in the Oval Office. This meeting […]
US Data Preview Commentary: 2Q GDP/Personal Income; FOMC/Powell; New Home Sales and … Evictions
WASHINGTON (MaceNews) –A week ahead with a soaring GDP, strong income, maybe some more records for stocks, all in all a super summer under way with only a few negatives, like a pending wave of evictions, a raging virus, accelerating inflation and deep and sometimes paralyzing ideological fissures. For the time being, no one is […]
Saturday/Sunday Washington Schedules from MaceNews
WASHINGTON (MaceNews) – The following are the schedules for Saturday and Sunday for the White House, Treasury, the State Department, the Capitol and for upcoming Federal Reserve events: The White House WEEKEND GUIDANCE AND PRESS SCHEDULE FORSATURDAY, JULY 24, 2021 AND SUNDAY, JULY 25, 2021 On Saturday, the President has no public events scheduled. On […]
FOMC Mainstream Seems In No Hurry To Taper As Late July Meeting Nears
By Steven K. Beckner (MaceNews) – Having started “talking about talking about” scaling back asset purchases at their mid-June Federal Open Market Committee meeting, Federal Reserve policymakers will presumably begin really “talking about” “tapering at the July 27-28 FOMC meeting. The timing of actual reductions in bond buying, however, remains very much in doubt, although […]
Bank of England Rate Setter Warns Against Tighter Policy
— “Economy not fully recovered,” says MPC member Jonathan Haskel By Laurie Laird LONDON (MaceNews) — The UK economic recovery is not sufficiently robust to warrant tighter monetary policy, according to rate setter Jonathan Haskel, placing him at odds with two colleagues who last week advocated for a rethink of extreme monetary accommodation. “My preference at […]
BofA Global Research Fund Manager Survey: Global Investors’ Overall Upbeat Attitude In July Sees Still Sizable Overweights In Stocks And Commodities
By Vicki Schmelzer NEW YORK (MaceNews) – Global investors, while much less bullish than in prior months, maintained an overall upbeat attitude in July, as evidenced by still sizable overweight holdings in stocks and commodities, according to the findings of BofA Global Research’s monthly fund manager survey, released Tuesday. Growth expectations slipped again on the […]
Fed’s Williams to Reporters: Need More Data on Jobs, Inflation Before Deciding on Taper
By Steven K. Beckner (MaceNews) – New York Federal Reserve Bank President John Williams was vague Monday about when he thinks the Fed should start scaling back its asset purchases, but suggested he is no hurry. Williams said he needs to see a lot more data on both employment and inflation before coming to a conclusion […]
US Data Preview Commentary: Jobs Rpt, ISM/Markit, Consumer Confidence and ‘The Ministry of the Future’
WASHINGTON (MaceNews) – The jobs report snapshot was taken in a week this month when the weekly jobless benefit claims disappointed by bouncing above the previous three weeks. If the monthly report from the Bureau of Labor Statistics is disappointing as well Friday, it will likely not change the views of Federal Open Market participants. […]