TRANSCRIPT: Fed’s Powell Says Waiting for Better Inflation Data, In Addition to ‘Encouraging’ CPI Report
WASHINGTON (MaceNews) – Federal Reserve Chair Jerome Powell’s bottom line is that more inflation data is needed before any rate cuts regardless of the “dot plot” and regardless of the day’s encouraging Consumer Price Index report. The transcript of his post-FOMC news conference follows: Inflation has eased substantially from a peak of 7% to 2.7% […]
Japan April Jobless Rate Steady at 2.6% for 2nd Straight Month; Job Cuts Shrink, Fewer People Quit for Other Openings
–Employment Up Y/Y for 21st Straight Month, Led by Hotels, Restaurants; Manufacturing Shed Jobs for 2nd Month in a Row By Max Sato (MaceNews) – Japanese payrolls posted their 21st straight rise on year in April amid labor shortages at hotels, restaurants and telecommunications firms while the unemployment rate was unchanged at 2.6% for the […]
Fed’s Beige Book Shows Lukewarm Growth, Less Jobs Pressure, Retail and Auto Sales Mostly Flat
WASHINGTON (MaceNews) – The Federal Reserve’s survey of economic activity coast-to-coast Wednesday showed generally lackluster growth but only two districts – Dallas and Boston – with little or no improvement. The survey, prepared for the June 11-12 Federal Open Market by the Dallas Fed found most districts with ‘negligible to modest” job gains, prices increasing […]
Japan Government Keeps Its View on Economic Recovery, Downplaying Q1 GDP Slump as Mainly Caused by Temporary Vehicle Output Suspension
Japan government keeps view on economy
ISM Semiannual Survey: US Economy to Expand Softly in 2024 amid Expected Lower Revenue Growth, Slowing Spending on Capacity
US purchasing managers see slow expansion
White House and Other Schedules for Thursday, May 9
WASHINGTON (MaceNews) – The following are Thursday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as U.S. economic data and Federal Reserve events: DAILY GUIDANCE AND PRESS SCHEDULEFOR THURSDAY, MAY 9, 2024In the morning, the President will receive the President’s Daily Brief. This meeting will be closed press. Then, the […]
ISM: US Services Sector Unexpectedly Contracts in April After 15 Months of Growth, Hit by Cooling Demand, Mixed Employment, Elevated Costs
US service sector contracts
FOMC Leaves Funds Rate Unchanged; Announces Moderation of QT
– Powell: Will Take Longer To Be Confident Inflation Headed to 2% – Rates Could Go Higher If FOMC Persuaded Not ‘Sufficiently Restrictive” – QT Dialed Back To ‘Smooth’ Balance Sheet Normalization, Not Help Economy By Steven K. Beckner (MaceNews) – The Federal Reserve left short-term interest rates unchanged Wednesday and signaled further delay of […]
TRANSCRIPT: Fed Chair Powell’s News Conference Remarks Rule Out Any Rate Hike and See Any Rate Cuts This Year Dependent on Data
–Don’t See the ‘Stag’ or the ‘Flation’ WASHINGTON (MaceNews) – Federal Reserve Chair Jerome Powell, answering questions in his post-FOMC news conference Wednesday, said he is still confident of more progress against inflation this year, was vague about the possibility of one or more 2024 rates cuts and said he doesn’t understand any fear about […]
FOMC Cites ‘Lack of Progress’ on Inflation; Need More Confidence Before Any Rate Cut
WASHINGTON (MaceNews) – The Federal Open Market Committee Wednesday fulfilled expectations that it would hold steady on its policy interest rate while restating that there will be no rate cut until it has greater confidence that the inflation rate is declining toward its target. The FOMC policy statement follows with boldfacing added for emphasis: Recent […]