FOMC May Boost ON RRP, IOER While Leaving Monetary Policy Unchanged
By Steven K. Beckner (MaceNews) – Although monetary policy itself is highly unlikely to change next week, there’s a good chance the Federal Reserve’s policy making Federal Open Market Committee will decide to adjust the administered rates its uses to implement policy. To maintain control of the federal funds rate, the FOMC seems likely to […]
FOMC Seems Ready To Tip Toe Toward Tapering At Mid-June Meeting
–Powell Could Signal Consideration of Less Bond Buying Is Coming By Steven K. Beckner (MaceNews) – Movement away from the most aggressively expansionary monetary policy in the Federal Reserve’s history may seem glacial, but it is not imperceptible. It seems clear, as the mid-June Federal Open Market Committee meeting approaches, that a shift in sentiment […]
Fed’s Quarles: Inflation Rise ‘Sufficient’ To Start Thinking About Tapering ‘Soon’
– But Says Fed Can Afford To Be ‘Patient’ About Firming Monetary Policy By Steven K. Beckner (MaceNews) – The Federal Reserve is getting closer to a time when it will need to consider scaling back its asset purchases, now that it has gotten “sufficient” evidence of rising inflation, Fed Vice Chairman for Supervision Randal Quarles said Wednesday. Quarles also suggested the […]
KC Fed’s George Voices Inflation Concern; Urges FOMC to Be ‘Flexible, Nimble’
By Steven K. Beckner (MaceNews) – In a sign that misgivings may be spreading among Federal Reserve officials about the consequences of the Fed’s ultra-easy monetary policy, Kansas City Federal Reserve Bank President Esther George voiced concern about potentially “persistent” inflation pressures and said the Fed must be prepared to be more “flexible” and “nimble” […]
BofA Global Research Fund Manager Survey: Investors Pare Equity Positions, Increase Cash Holdings in May
By Vicki Schmelzer NEW YORK (MaceNews) – Global investors pared equity positions and increased cash holdings in May, driven by a rethink of growth and inflation expectations, according to the findings of BofA Global Research’s monthly fund manager survey, released Tuesday. A net 84% of those polled in May looked for stronger world economic growth […]
Fed’s Bostic: Fed Far From Goals; Need to Keep ‘Accommodative Mode’
By Steven K. Beckner GDP Level Almost 100% Back, But 8 Million Jobs Short Would Want Adjust Policy If Economy Overheats But ‘Far In Future’ Brainard Urges Patience to Generate Enough Momentum To Reach Goals (MaceNews) – Although the economy has come a long way, it still has far to go to return to full […]
Bank of England to Slow Pace of Bond Purchases After Sharp Upward Revision to 2021 Growth
By Laurie Laird LONDON (MaceNews) – The Bank of England will reduce its pace of asset purchases as the UK’s aggressive vaccine campaign has allowed the gradual reopening of the economy. “As envisaged since the announcement of [the emergency quantitative easing programme in November 2020] and consistent with developments in financial markets since then, the pace […]
FOMC Stands Pat; Powell Gives No Hint of Less Easy Monetary Stance
By Steven K. Beckner (MaceNews) – Despite mounting signs of economic recovery, Federal Reserve policymakers voted Wednesday to maintain their super loose credit policies, and Chairman Jerome Powell gave no hint the Fed is ready to become less aggressively expansionary. The Fed’s rate-setting Federal Open Market Committee FOMC did make significant changes in its policy […]
Wednesday Washington Schedules from MaceNews
WASHINGTON (MaceNews) – The following are Wednesday’s schedules for the White House, Treasury, the State Department, the Capitol and for upcoming economic data and Federal Reserve events: The White House DAILY GUIDANCE AND PRESS SCHEDULE FORWEDNESDAY, APRIL 28, 2021 In the morning, the President will receive the President’s Daily Brief in the Oval Office. This meeting […]
US Economy Roaring Back, But FOMC Not Ready To Respond … Yet
By Steven K. Beckner (MaceNews) – The economy may be at “an inflection point,” as Federal Reserve Chairman Jerome Powell has said, but monetary policy remains more reflexive than anything, which is to say he and his fellow Fed policymakers are still very much in emergency response mode, concentrating on helping the economy recover from […]