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. […]
Bank of England Avoids Discussion of QE Exit Strategy at Latest Policy Meeting
By Laurie Laird — Sees rise in inflation as “transitory’ LONDON (MaceNews) – The Bank of England Thursday delayed any discussion of removing monetary stimulus at its latest policy meeting, characterising the recent rise in inflation as “transitory.” “Most” MPC members agreed that “sufficient conditions for any future tightening were not met … Policy should […]
San Fran Fed’s Daly: Time To Talk About Taper But May Not Come Til ‘22
‘Substantial Further Progress Within Our Sight’; Timing Uncertain May Reach Substantial Further Progress Sooner Than She Thought In Jan. Wants More Clarity on Economy’s Path; Looking Toward Fall Taper Announcement Could Come ‘Late This Year’ Or Early 2022 FOMC Will Be Talking About Mix of MBS vs. Treasury purchases By Steven K. Beckner (MaceNews) – […]
Bundesbank’s Weidmann: Sharp Price Rises in Germany ‘Temporary;’ No Signs of Excessive Medium-Term Price Pressures
ZURICH (MaceNews) – Bundesbank President Jens Weidmann that current price increases in Germany are of a temporary nature and that he doesn’t see signs of higher inflation rates solidifying. In an interview with the business daily Handelsblatt, Weidmann said that “from our viewpoint, the sharp price increases in Germany are temporary and there aren’t signs […]
BOJ Keeps Easing Stance; Extends Special COVID-19 Fund Ops Until March 2022
–BOJ To Start New Funding Scheme To Help Address Climate Change By Max Sato (MaceNews) – The Bank of Japan said Friday it is maintaining its policy stance, as expected, vowing to defend the economy from the lingering impact of the pandemic. The bank will also extend the term of its special COVID-19 fund-supplying operations […]
Fed’s Powell Signals Serious Discussion of Tapering To Begin At Coming FOMC Meetings
— Sharp Upward Revisions of Funds Rate Projections Reinforces Message By Steven K. Beckner (MaceNews) – Federal Reserve Chairman Jerome Powell gave the first indication he is ready to contemplate lessening monetary accommodation, even as he and his fellow policymakers left in place the most aggressively easy monetary stance in its history Wednesday. Though not […]