KC Fed’s George: ‘Too Early To Discuss Pulling Back’ Monetary Ease
– Be ‘Patient’ For Now, But Must ‘Reconsider’ Policy Settings as Virus Fog Clears – Not Worried About Rising Yields, Breakevens Now, But Watch Wages, Prices By Steven K. Beckner (MaceNews) – Kansas City Federal Reserve Bank President Esther George said Thursday that, for now, the Fed needs to be “patient” in maintaining an accommodative […]
Fed’s Powell Again Signals No Rush to Taper Asset Purchases
By Steven K. Beckner Want to See ‘Actual Progress’ Toward Employment, Inflation Goals Downplays Inflation, Financial Stability, Dollar Risks (MaceNews) – Federal Reserve Chairman Jerome Powell again Wednesday signaled that the Fed will maintain its ultra-easy monetary policy stance unabated for the foreseeable future. Powell, testifying for a second straight day on the Fed’s semiannual […]
Wednesday Washington Schedules from MaceNews
WASHINGTON (MaceNews) – The following are Wednesday’s public schedules for the White House, Treasury, the Capitol and for upcoming economic data: The White House DAILY GUIDANCE AND PRESS SCHEDULE FORWEDNESDAY, FEBRUARY 24, 2021 In the morning, the President will receive the President’s Daily Brief in the Oval Office. This meeting will be closed press. In the […]
Fed’s Powell: Fed Will Be ‘Patient’ About Lessening Monetary Support for the Recovery
By Steven K. Beckner (MaceNews) – Federal Reserve Chairman Jerome Powell pledged Tuesday the Fed will move “patiently” and with plenty of advance notice before it firms monetary policy. Powell, testifying before the Senate Banking Committee on the Fed’s semi-annual Monetary Policy Report to Congress, downplayed risks of excessive inflation and financial instability. He largely […]
US Data Preview: Fed’s Powell Testimony, Durable Goods Orders, Revised GDP, Personal Income, New Home Sales
WASHINGTON (MaceNews) – The week ahead features a little look-ahead and a lot of look back, with perhaps some hints at how the first quarter is performing and a lot about how the patient Federal Reserve hopes to see a continuing recovery. The least informative of the lot may be Thursday’s update of the fourth […]
Fed’s Rosengren: Bond Buying Will Continue Until ‘Substantially More’ Job, Inflation Gains
—Rosengren: Employment Remains ‘Well Below” Year Ago Levels By Steven K. Beckner (MaceNews) – Boston Federal Reserve Bank President Eric Rosengren advocated continued aggressive monetary and fiscal stimulus Friday. Given unsatisfactory labor market conditions, he suggested, the Fed will need to keep buying $120 billion of bonds for the foreseeable future. “Despite a potentially difficult […]
FOMC Minutes: ‘Likely Take Some Time’ For ‘Substantial Further Progress’ To Taper QE
–‘Economy Still Far From’ Fed’s Employment, Inflation Goals –Must ‘Clearly Communicate’ ‘Well in Advance’ of LSAPs Tapering –‘Important To Abstract’ from ‘Temporary’ Factors Pushing Up Inflation By Steven K. Beckner (MaceNews) – Federal Reserve officials seemingly were looking far down the road when thinking about slowing the pace of asset purchases at their Jan. 26-27 […]
FOMC Minutes Show Same Stand-Still Philosophy Described by Chair Powell
FOMC Minutes Show Same Stand-Still Philosophy Described by Chair Powell WASHINGTON (MaceNews) – Federal Open Market Committee participants mulled the possibility of upside and downside risks on inflation, the pandemic and the uncertain future course of the economy, giving no hint they were even beginning to consider any policy changes. The minutes, in fact, seemed […]
FED’S POWELL: WILL SHRINK BALANCE SHEET GRADUALLY, TRANSPARENTLY AND NOT ANY TIME SOON
By Steven K. Beckner — Economy far From Strong Labor Market; Downside Risks Predominate— Doesn’t Foresee Sustained Pick-up In Inflation (MaceNews) – Federal Reserve Chairman Jerome Powell strongly suggested Wednesday that the Fed will reduce the pace of its bond buying only very gradually, with ample warning and not anytime soon. Powell, in a webcast […]
BANK OF ENGLAND RATE SETTER HINTS AT MPC DISAGREEMENT OVER NEGATIVE RATES
By Laurie Laird LONDON (MaceNews) – A top Bank of England official suggested Friday that rate setters have yet to agree on the merits of implementing negative rates in the UK. “Different members of the MPC will have a different take” on the efficacy of sub-zero interest rates, said Dave Ramsden, a member of the […]