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 […]
Bundesbank’s Weidmann Doesn’t Rule Out Tighter ECB Policy Amid Inflation Rise
ZURICH (MaceNews) – In the face of a sharp inflation increase, Bundesbank President Jens Weidmann said he doesn’t rule out higher interest rates from the European Central Bank. In an interview with the German newspaper Welt am Sonntag, Weidmann said that euro member states should not rely on the central bank to help finance an […]
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 […]