DATA PREVIEW: GDP WILL REBOUND FOR Q3, BUT NOT NEARLY ENOUGH
By Kevin Kastner WASHINGTON (MaceNews) – After the 31.4% plunge in second quarter GDP, there is no doubt that economic growth partially rebounded in the third quarter, data to be released Thursday will show. Consumption, home building and business activity all improved drastically from the lockdown-period of the previous quarter. But it will be a […]
STATUS CHECK – THE DEBATE AS SEEN THROUGH DIFFERENT FILTERS
WASHINGTON (MaceNews) – The following is Thursday’s status check of developments in the U.S. that can influence economic, health and political outcomes. · The transfixing Presidential Debate was an actual event now fixed in history forever and yet it was seen as completely different things through the eyes and ears somehow transformed into filters by […]
DATA FLASH: US SECOND QUARTER GDP REVISED UP TO -31.4%
––Second Quarter PCE Revised Up to -33.2% From -34.1% Previously By Kevin Kastner WASHINGTON (MaceNews) – Second quarter U.S. GDP Wednesday was revised up slightly due to upward adjustments to consumption and residential fixed investment. Analysts will look past this data and toward the third quarter’s likely partial recovery. Second quarter GDP was revised up […]
STATUS CHECK: DANCING AWAY FROM GRIM 200,000
WASHINGTON (MaceNews) – The following is Tuesday’s status check of developments in the U.S. that can influence economic, health and political outcomes Yes, everyone is focusing on the obscene 200,000 death toll, actually 201,800 by one count by now, just as “Status Check” did Monday night. And 33 states now seeing higher case rates again, […]
DATA PREVIEW: HOUSING SECTOR FUELED BY LOW RATES
By Kevin Kastner WASHINGTON (MaceNews) – While the retail and manufacturing sectors continue to improve from their spring lows, neither have received the benefits of record low interest rates as much as the housing sector. In the upcoming light data week, August home sales data will take center stage. After double digit gains in July, […]
FED’S BULLARD: ECONOMY CAN BOUNCE BACK QUICKLY; JOBLESS RATE DROPPING
NEW YORK (MaceNews) – St. Louis Fed President James Bullard Friday offered a sunny view of the economic outlook, saying the economy continues to rebound as businesses adapt to the pandemic, and unemployment is headed down to 6.5% by December. Bullard said much of the rise in unemployment has been due to temporary layoffs, and […]
STATUS CHECK: MORE ROUTINE JOBLESSNESS, POLITICAL SLURS
WASHINGTON (MaceNews) – The following is Thursday’s status check of developments in the U.S. that can influence economic, health and political outcomes: The news of the day was pretty routine. Another former White House insider, Olivia Troye, accused President Trump of being a hypocrite and in turn was described by the White House as just […]
STATUS CHECK: ‘I WANT TO SHOW STRENGTH AS A LEADER’
WASHINGTON (MaceNews) – The following is Thursday’s status check of developments in the U.S. that can influence economic, health and political outcomes: Another MAGA rally, this one in Freeland, Mich. Thursday night, well attended. Familiar themes, cheers of “Four more years,” and very few masks. September 15’s “Burn Your Mask” day is still on. Earlier […]
FED’S EVANS: ‘PARTISAN POLITICS’ THREATENS FISCAL RELIEF; POSES ‘SIGNIFICANT DOWNSIDE RISK’
NEW YORK (MaceNews) – Political wrangling threatens needed fiscal support for the U.S. economy, and poses a big downside risk, Chicago Fed President Charles Evans said Thursday. In unusually blunt language, Evans called out politicians for lack of action, saying the expiration of an array of federal programs threatens the recovery, and that more fiscal […]
US CBO TEXT: DEFICIT HEADING TO ALL-TIME RECORD; 10-YR OUTLOOK SURPRISES
WASHINGTON (MaceNews) – The non-partisan Congressional Budget Office Wednesday updated its outlook for annual budget deficits, and while the impending record widening is no surprise, the tapering toward the end of the next decade was unexpected. The following is the CBO text of its summary of the budget update, with boldfaced emphasis added: • Deficits […]