FED’S EVANS: POLICY REVIEW INCLUDES MAXIMUM RATE OF EMPLOYMENT
By Suzanne Cosgrove CHICAGO (MaceNews) – Chicago Fed President Charles Evans Thursday said the Fed is continuing to review measures of its dual goals of price stability and maximum employment as part of an examination of its policy framework begun late last year. “One of the key questions facing us today is whether the economy […]
US JOBS RPT SHOWS WAGE GROWTH SLOWS EVEN AS UNEMP RATE IMPROVES
By Denny Gulino WASHINGTON (MaceNews) – The September jobs report Friday, with 136,000 payroll slots added, was modestly positive for hiring and the 50-year-low unemployment rate of 3.5% was everything a labor market economist could hope for, yet there was a shadow cast overall, a slowing of wage growth that suggested prosperity is ebbing. Manufacturing […]
US JOBS REPORT A LITTLE SHORT OF BREATH BUT STILL JOGGING
–Workweek Rebounds; No Additional Wage Acceleration; Labor Participation Back to February By Denny Gulino WASHINGTON (MaceNews) – The August jobs report Friday had some bright spots amid a somewhat subdued landscape, with the three-month average payrolls growth slowed to 156,000 even with a new and sizable injection of Census workers. The brightest spot was the […]
TECHNICAL NOTE, US REVISED 2ND QTR GDP – US BEA
WASHINGTON (MaceNews) – The following is the Bureau of Economic Analysis technical note that accompanied Thursday’s revised report on second quarter gross domestic product: Sources of Revision to Real GDP Real GDP increased 2.0 percent (annual rate) in the second quarter of 2019, a downward revision of 0.1 percentage point from the “advance” estimate. The […]
FED’S POWELL: FIXATED ON DATA POINTS IN ‘EVENTFUL’ PRELUDE TO FOMC
WASHINGTON (MaceNews) – Key excerpts of Federal Reserve Chair Jerome Powell’s Jackson Hole speech Friday, “Challenges for Monetary Policy” with boldfaced emphasis added: People who live and work in low- and middle-income communities tell us that this job market is the best anyone can recall. We increasingly hear reports that employers are training workers who […]
JULY CPI’S POP QUICKLY KNOCKED INTO IRRELEVANCE AS MKTS MOVE
–July CPI Core +0.3%; Y/Y +2.2% By Denny Gulino WASHINGTON (MaceNews) – Tuesday’s CPI pop, an excursion a tenth higher than the inflation comfort level, had no sooner depressed stock futures than the White House signaled a major softening of the impending tariff attack on China, igniting an explosion of share prices and halting the […]
FED’S BULLARD: NEED TO WAIT, SEE IF MORE EASING NEEDED
By Steven K. Beckner WASHINGTON (MaceNews) – St. Louis Federal Reserve Bank President James Bullard said Tuesday the Fed “took out insurance” against trade-related risks to the economy by cutting interest rates last week and must now determine if more credit easing is needed.. In cutting rates, Bullard told the National Economics Club the central […]
JULY JOBS RPT HO MUM; WAITING FOR CHINA COUNTERPUNCH
–No Turnaround in Year’s Worsening Trade Deficit Trend –Treasury 10-Year Keeps 1.88% Yield, Cut By New Tariff Threat By Denny Gulino WASHINGTON (MaceNews) – July’s moderate increase in payrolls reported Friday – 164,000 – was balanced by a cutback in hours and no acceleration in sub-par wage growth, headlining a U.S. jobs report overshadowed by […]
FOMC DELIVERS ITS QTR POINT CUT DESPITE ‘RISING’ ECONOMY
WASHINGTON (MaceNews) – The Federal Open Market Committee Wednesday delivered a bare-bones statement that aside from the expected quarter-point rate cut information contained less than usual characterizations of the economy, other than activity is “rising,” the labor market continues to be strong and inflation remains below target. The one additional nugget was that the balance […]
US TBAC RPT: 1-YR SOFR LINKER COULD PRICE ‘BETTER’ THAN TSY 1-YR
–US Treasury’s Quarterly Refunding As Expected, Raises $26.7 Bln New Cash WASHINGTON (MaceNews) – In their quarterly refunding announcements Wednesday morning, U.S. Treasury officials again said no decision has been reached on a SOFR 1-year floating rate note while the private-sector Treasury Borrowing Advisory Committee suggested it’s looking forward to it. Treasury has said a […]