FED LAUNCHES NEW PACKAGE OF $2.3 TRILLION IN CREDITS
By Steven K. Beckner (MaceNews) – The Federal Reserve’s aggressive credit easing measures since early March have steadied financial markets, though not the economy, but not content to rest on its laurels, the Fed continues to innovate and explore the full extent of its emergency lending powers. The Fed, in conjunction with the U.S. Treasury, […]
FOMC CONF CALL MINUTES DOCUMENT START OF A NEW ERA
-Fed’s Mester Wanted Smaller Cut March 15 Meet; March 2 Unanimous WASHINGTON (MaceNews) – The Federal Open Market Committee conference call meeting minutes from the beginning of the central bank’s massive reaction to the corona virus demand destruction, released Wednesday, are interesting history but relatively irrelevant given the evolution since of the crisis. Facing deteriorating […]
WHITE HOUSE WATCH COMMENTARY: FEDERAL GOVT STILL CATCHING UP WITH VIRUS NEEDS
By Denny Gulino WASHINGTON (MaceNews) – What’s become a literal American deathwatch was a grinding slog on Wednesday with whatever major progress being made behind the scenes obscured by the questions on why progress is not faster. The evening’s Corona Virus Task Force briefing seemed more bogged down with vague answers rather than being illuminated […]
BANK OF CANADA CUTS RATES ANOTHER 50 BPS
By Gloria Galloway OTTAWA (MaceNews) – The Bank of Canada has dropped its target overnight rate for the third time in less than a month as it tries to mitigate the financial and economic damage of the COVID-19 pandemic. Stephen Poloz, the bank’s governor, announced Friday morning that the rate would fall 50 basis points […]
DRAGHI: ECB COUNCIL ‘UNIFIED’ DESPITE POLITICAL PRESSURE ON RATE SETTERS
By Laurie Laird FRANKFURT (MaceNews) – European Central Bank rate setters have largely settled their policy disagreements, according to ECB President Mario Draghi, while acknowledging that global central banks are coming under increasing political pressure. Addressing reporters after his final meeting, Draghi described a “general call for unity” among governing council members, after a number […]
FED’S WILLIAMS: STILL ASSESSING WHETHER MORE RATE CUTS NEEDED
NEW YORK (MaceNews) – New York Fed President John Williams Thursday declined to say he favored a rate cut at the next Federal Open Market Committee meeting, saying instead that policy-makers are still assessing the need for additional measures. Williams, speaking to reporters after a speech to an industry group, was asked whether he favored […]
FED’S EVANS: POLICY REVIEW INCLUDES MAXIMUM RATE OF EMPLOYMENT
By Suzanne Cosgrove CHICAGO (MaceNews) – Chicago Fed President Charles Evans Thursday said the Fed is continuing to review measures of its dual goals of price stability and maximum employment as part of an examination of its policy framework begun late last year. “One of the key questions facing us today is whether the economy […]
CHICAGO FED’S EVANS: ‘WOULDN’T MIND’ ANOTHER RATE CUT
By Suzanne Cosgrove CHICAGO (MaceNews) – Chicago Federal Reserve President Charles Evans told reporters Tuesday that he “wouldn’t mind” another 25 basis point interest rate cut at the next FOMC meeting, depending on what the data suggests ahead of the meeting. Speaking to reporters following a luncheon address to the Rotary Club at the Union […]
US JOBS RPT SHOWS WAGE GROWTH SLOWS EVEN AS UNEMP RATE IMPROVES
By Denny Gulino WASHINGTON (MaceNews) – The September jobs report Friday, with 136,000 payroll slots added, was modestly positive for hiring and the 50-year-low unemployment rate of 3.5% was everything a labor market economist could hope for, yet there was a shadow cast overall, a slowing of wage growth that suggested prosperity is ebbing. Manufacturing […]
FED’S EVANS SEES CURRENT RATES AT APPROPRIATE LEVELS, BUT LEAVES EASING DOOR OPEN
By Laurie Laird FRANKFURT (MaceNews) – U.S. interest rates currently reflect the “fundamental” resilience of the economy, according to an influential Federal Reserve policy maker, in line with the latest outlook provided by the central bank, suggesting a holding pattern for monetary policy. “The setting of the funds rate at the moment is appropriate for […]