Fed Officials Still Divided, Unsure About When and How Much To Cut Interest Rates
By Steven K. Beckner (MaceNews) – Federal Reserve officials have continued this week to muse about cutting interest rates for the first time since December when the Fed’s rate-setting Federal Open Market Committee meets in mid- September, but the FOMC remains divided and unsure. Despite an uptick in inflation, labor market worries have come to […]
BofA Global Research Fund Manager Survey: Global Investors Increasingly More Cautious About Growth and Inflation In August
By Vicki Schmelzer NEW YORK (MaceNews) – Global investors were increasingly more cautious in their views about growth and inflation in August, according to BofA Global Research’s monthly fund manager survey, released Monday. A net 41% of those polled this month looked for weaker global growth in the coming 12 months. This compared to a […]
ISM: US Services Sector Slows on Weak Demand, Soft Hiring and Rising Costs as Tariffs Begin to Bite
–ISM Services Index 50.1 Vs. 50.8 in June, 49.9 in May, Below Consensus 51.5–ISM’s Miller: Employment Index’s Continued Contraction, Faster Rise in Prices Index Worrisome–Miller: Expansion in Business Activity, New Orders Indexes Highlight Resilience of Services Sector–Miller: Firms Wary of Impact of an Expected Fed Rate Cut as Inflation Remains High By Max Sato (MaceNews) […]
US ISM Manufacturing Falls Deeper into Contraction amid Slow New Orders, Still Fragile Output, More Job Cuts, Elevated Costs
–ISM Manufacturing Index at 9-Month Low of 48.0 vs. 49.0 in June, Consensus 49.5–ISM CEO Derry: Despite Wall Street Pricing in Imminent Rate Relief, Manufacturers Need to See Actual Cut Before Resuming Capex By Max Sato (MaceNews) – U.S. manufacturing activity was in contraction for the fifth straight month in July as President Trump’s idea […]
ISM: US Services Sector Posts 1st Contraction in 11 Months in May as Trade War Sparks Supply Chain Chaos
–ISM Services Index 49.9 Vs. 51.6, Well Below Consensus (52.0)–ISM’s Miller: Weak PMI Not Indicative of Severe Contraction but Caused by Uncertainty–Miller: Firms Cautious About Placing Orders Until Trade Tariff Impact Becomes Clearer By Max Sato (MaceNews) – The U.S. services sector slipped into contraction in May after growing for 10 months, hit by significantly […]
Fed Officials Still Hopeful About Economy, In No Rush to Cut Interest Rates
– Divergent Views Have Emerged But for Now Officials United on Need For Patience By Steven K. Beckner (MaceNews) – As the Federal Reserve approached its mid-year monetary policy meeting, Fed officials have given few signs this week that they are prepared to change their “moderately restrictive” interest rate settings any time soon. While officials […]
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 […]