FOMC Stands Pat, Sees Risks Up for Both Unemployment, Inflation
WASHINGTON (MaceNews) – The Federal Open Market Committee Wednesday, as expected, decided to maintain its policy rate and the only notable addition to the policy statement was that the Fed sees “the risks of higher unemployment and higher inflation have risen.” The policy statement follows: Although swings in net exports have affected the data, recent […]
ISM: US Services Sector Expands in April for 10th Straight Month but Trump Tariffs Keep Outlook Uncertain
–ISM Services Index Picks Up to 51.6 Vs. 50.8 in March, Above Consensus (50.2)–Slight Pickup Led by 3 Out of 4 Key Subindexes: New Orders, Employment, Supplier Deliveries (Slower Deliveries)–Employment Subindex in Contraction for 2 Months in a Row–ISM’s Miller: More Industries Mention Trump Tariff Impact on Costs–Miller: Must Watch for Profits, Survival of Smaller […]
US ISM Manufacturing Remains in Contraction in April as Trump Tariffs Choke Demand, Prompting Firms to Slash Output, Shed Payrolls amid High Costs
–ISM Manufacturing Index at 48.7 vs. 49.0 in March, Above Consensus (47.9)–ISM’s Fiore: Tariff Concerns Account for 82% of April Survey Comments vs. 67% in March, Overshadowing Any Kind of Demand Comment–Fiore: Don’t Think US in Recession but PMI Indicates Moving in That Direction–Fiore: Not a Tariff Fan; Firms Won’t Invest, US Consumers Will Pay […]
FED’S BEIGE BOOK: Analysts See ‘Pre-Downturn’ Assessment of Tepid Economy Coast to Coast
WASHINGTON (MaceNews) – The Federal Reserve’s latest “Beige Book” survey Wednesday of economic conditions in all 12 Fed Districts reflected widespread uncertainty because of shifting trade policy, softening consumer spending and worsening outlooks that hinted at an economy on the precipice of a downturn. The following is the national summary and District-by-District snapshots from the […]
ISM: US Services Sector Slips in March on Surging Costs amid Trump Trade War, Controversial Massive Federal Spending Cuts, but Clings to Growth
–ISM Services Index at 9-Month Low of 50.8 Vs. 53.5 in February, Below Consensus (53.0)–Employment Subindex Plunge by 7.7 Points Sharpest Since Early Pandemic Phase of April 2020–ISM’s Miller: More Industries Are Concerned About Impact of Tariffs–Miller: Canadian Boycott of US Goods, Services Having Immediate Impact–Miller: Services Sector Shows Some Strength from Overall Viewpoint By […]
US TARIFFS STATE OF PLAY: Pres Trump Imposes Massive Global Tariffs Likely to Cause Widespread USA Price Hikes
WASHINGTON (MaceNews) – Amid much pessimism about severe economic domestic consequences, President Trump Wednesday imposed massive tariffs on several dozen countries including China and the European Union and a blanket 10% levy on all the rest. The Rose Garden announcement shook stock futures into large negatives while interest rates maintained lows last hit in October. […]
US ISM Manufacturing Slips Back into Contraction in March as Firms Sit on Sidelines, Trim Payrolls Ahead of More Trump Tariffs Expected This Week
–ISM Manufacturing Index at 49.0 Vs. 50.3 in February, Below Consensus (49.6)–ISM’s Fiore: Activity ‘Overshadowed’ by US Import Tariffs; So Many Unknowns, More Confusion–Fiore: Still Think Lower New Orders, Higher Inventories, Slower Supply Deliveries Will Clear Up–Fiore: Tariffs Could Prompt Workers Hit by Higher Costs of Living to Demand Wage Hikes, Triggering Wage-Price Cycle By […]
StL Fed’s Musalem: Must Lean Against Inflation If Expectations Become Unanchored
– May Have To Leave Rates Unchanged Longer Or Hike Rates If Inflation Worsens By Steven K. Beckner (MaceNews) – Although downside risks to the labor market have increased, so have upside risks to inflation and inflation expectations, and such a combination could create a difficult monetary policy dilemma, St. Louis Federal Reserve Bank President […]
BofA Global Research Fund Manager Survey: Global Investor Sentiment Plunges as Macro Pessimism Surges
–US Equity Allocation Sees Biggest Monthly Drop on Record By Vicki Schmelzer NEW YORK (MaceNews) – A drop in expectations that the U.S. economy will outperform and rising worries about the global economy prompted a “bull crash” in global investor sentiment in March, according to BofA Global Research’s monthly fund manager survey, released Tuesday. When […]
ISM: US Services Sector Expands for 8th Straight Month in February While Concerns Over Trump Tariffs Darken Outlook
–ISM Services Index at 53.5 in February Vs. 52.8 in January, Above Median Forecast 52.7–ISM’s Miller: Services PMI Has Been Trending Down but More Stable Now, Points to Sustained Growth on Year–Miller: Jump in ISM February Manufacturing Prices Paid Index Amid Higher Commodities Markets Not Yet Feeding Through to Services Prices By Max Sato (MaceNews) […]