CHI FED’S EVANS: FED CAN’T MAKE WORKPLACES SAFE
–Economic Activity Seems to be Leveling Off By Suzanne Cosgrove CHICAGO (Mace News) — Chicago Federal Reserve President Charles Evans, hosting a virtual roundtable for news media Monday, said that while the second-quarter gross domestic product was the worst on record, declining at an annualized rate of 32.9 percent, with about 18 million unemployed workers, […]
FED’S BULLARD: US RECOVERY SLOWED IN JULY; WILL BE ‘UPS AND DOWNS’ AS ECONOMY ADJUSTS
NEW YORK (MaceNews) – The U.S. economy slowed in July after surprising to the upside in May and June as it bounced back from its low in April,St. Louis Fed President James Bullard said Monday. Bullard, in webinar remarks at an event hosted by the St. Louis Fed’s Memphis branch, repeated that he expects the […]
STATUS CHECK: NO HAPPY TALK FROM POWELL; VIRUS STATS GRIM
WASHINGTON (MaceNews) – The following is Wednesday’s status check of developments in the U.S. that can influence economic, health and political outcomes: The VIX mood ring turned a more mellow shade Wednesday, improving a notable 5.27% to settle at 24.10 by day’s end. U.S stocks finished the day’s session +0.61% or 160.29 points, and in […]
FED’S POWELL: PROBABLE ‘LONG TAIL’ OF THOSE SLOW TO GET JOBS BACK
By Denny Gulino WASHINGTON (MaceNews) – Federal Reserve Chair Jay Powell, following a hold-in-place policy meeting, Wednesday stayed away from any happy talk about progress against the virus and unemployment, saying it will be quite a while before low jobless rates return. Referring to the “tail” outside the bulk of the reemployment distribution curve, Powell […]
TEXT OF FOMC POLICY STATEMENT JULY 29, 2020
The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. The coronavirus outbreak is causing tremendous human and economic hardship across the United States and around the world. Following sharp declines, economic activity and employment […]
STATUS CHECK: BITTER PARTISAN DIVISIONS ON DISPLAY; CONSUMER CONF DETERIORATES
WASHINGTON (MaceNews) – The following is Tuesday’s status check of developments in the U.S. that can influence economic, health and political outcomes: A VIX somewhat more tense Tuesday, worsening 2.83% to 25.44, as U.S. stocks backed into the red by moderate amounts, worsening in a steep downdraft in the last hour of trading. The S&P […]
STATUS CHECK: FOMC; THE SHADOW VIRUS TASK FORCE; AS GOES BASEBALL …
WASHINGTON (MaceNews) – The following is Monday’s’ status check of developments in the U.S. that can influence economic, health and political outcomes: A VIX improved by a large amount, 4.28%, to 24.74, backgrounded a mildly positive day for U.S. stocks, with the DJIA +0.43%/+114.88; S&P +0.74%/+23.78 and the Nasdaq +1.67%/+173.09. After-hours futures were much the […]
THE JULY FOMC AND BEYOND – WHAT TO EXPECT FROM THE FED
By Steven K. Beckner (MaceNews) – Even though the U.S. economy’s partial recovery has lately shown signs of faltering in face of renewed anti-coronavirus restrictions, it would be little short of astonishing if the Federal Reserve’s policy making Federal Open Market Committee were to announce any new monetary stimulus initiatives at the conclusion of its […]
BOE’S HALDANE: MPC MULLING SUB-ZERO RATES DESPITE STRONG ECONOMIC RECOVERY
By Laurie Laird LONDON (MaceNews) – The Bank of England is continuing to assess the efficacy of negative interest rates, despite a stronger-than-expected economy recovery, the bank’s chief economist said Monday. Sub-zero interest rates are “actively under review,” said Andy Haldane, addressing the UK’s Treasury Select Committee. The bank could also consider expanding its quantitative […]
DATA PREVIEW: JUNE DATA SOLID, BUT COVID REBOUND LOOMS
By Kevin Kastner WASHINGTON (MaceNews) – The U.S. data for June have been generally positive, with a solid gain in nonfarm payrolls and the above-50 ISM readings for both the manufacturing and nonmanufacturing sectors. Of course, much of this was before several large states reported rebounds in their COVID-19 cases, so the silver cloud comes […]