<strong>Italy’s EUR35 Billion Budget Law to Be Almost Totally Deficit-Funded; More Funding Likely Needed in Q2</strong> –<strong> Sources</strong>
–Flat tax for VAT-holders raised to EUR 85,000 income –Measures to cushion impact of energy costs are the biggest share of spending –‘Citizenship wage’ for jobless slashed; retirement age cut By Silvia Marchetti ROME (MaceNews) – Italy’s government budget plan for 2023 is set to total EUR 35 billion, including pro-growth measures and subsidies to […]
<strong>White House and Other Schedules for Thursday, Nov 17</strong>
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. data and Federal Reserve events: DAILY GUIDANCE AND PRESS SCHEDULE FOR THURSDAY, NOVEMBER 17, 2022 In the afternoon, the President will receive the President’s Daily Brief. This meeting will be closed press. In-Town […]
Bank of Canada Hikes Key Rate by 50 Bps to 3.75%, Balancing Between Too High Inflation and Slower Demand 
–BOC Governing Council Still Believes Interest Rates Need to Rise Further –BOC: Canadian Economy in Excess Demand, Labor Markets Tight –Governor Macklem: Getting Closer to End of Tightening but Not Over Yet–Macklem: Future Tightening Could Mean Large or Normal Rate Hike By Max Sato (MaceNews) – The Bank of Canada on Wednesday raised its policy […]
Japan August Tokyo CPI Jumps on Utilities, Food, Hotels on High Producer Costs, Reopening Demand 
–Electricity Leads Higher Energy Bills; Gasoline Price Rise Continues to Shrink –Core CPI +2.6% Y/Y Hits 30-Year High Excluding 2014, 1997 Sales Tax Hikes –Total CPI +2.9% Y/Y Over 30-Year High Excluding Sales Tax Hikes’ Direct Impact –BOJ to Keep Easing Stance Until Stable 2% Inflation Anchored with Real Wage Gains By Max Sato (MaceNews) […]
Japan July Core, Total CPI Annual Rates Stay Above 2% on High Food, Utilities Costs 
–Core CPI +2.4% Y/Y Largest in 14 Years Excluding 2014 Sales Tax Hike Impact–Total CPI +2.6% Y/Y Remains Fastest in Over 30 Years, Excluding Direct Impact of 2014, 1997 Sales Tax Hikes –Gasoline Price Rise Slower on Govt Subsidies, Easing Crude Oil Market By Max Sato (MaceNews) – Consumer inflation in Japan continued moving up […]
FOMC Minutes: Officials Eyed ‘Downside’ Growth Risks, ‘Upside’ Inflation Risks
– Policy Focus Remained on Curbing Inflation, But ‘Many’ Warned of Overdoing It – No Clear Signal from Minutes On Size of Sept. 21 Rate Hike By Steven K. Beckner (MaceNews) – Federal Reserve officials continued to tilt toward a tighter monetary policy at their late July Federal Open Market Committee meeting, but while they […]
July Jobs Report Takes the ‘Stag’ Out of ‘Stagflation;’ Adds 528K Payroll Slots
By Denny Gulino WASHINGTON (MaceNews) – Confounding the forecasters, the July jobs market exploded with new hiring, adding 528,000 payrolls slots, lowering the unemployment rate to 3.5% and pitting market pessimists against their opposites who see inflation having peaked. U.S. stocks futures sagged, benchmark interest rates shot up a few basis points and the White […]
UPDATE – US July ISM Manufacturing Growth Slows on Softer New Orders; ISM Sees No Recession
–ISM: Labor Shortages, Supply Constraints Continue Weighing on Sector –ISM’s Fiore: No Change to View US Recession Not Looming in Manufacturing –ISM’s Fiore: Plunge in Prices Index Due to Weaker China Demand, Lower Energy Costs By Max Sato (MaceNews) – U.S. manufacturing activity growth slowed marginally in July from June, remaining at the lowest rate […]
White House and Other Schedules for Wednesday, July 27
WASHINGTON (MaceNews) – The following are Wednesday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as US data and Federal Reserve events: DAILY GUIDANCE AND PRESS SCHEDULE FORWEDNESDAY, JULY 27, 2022 In the morning, the President will receive the President’s Daily Brief virtually. This meeting will be closed press. In-Town […]
Japan Government Upgrades View: Consumption, Jobs Leading Gradual Economic Pickup
By Max Sato (MaceNews) – Japan’s government Tuesday upgraded its economic overview for the first time in three months in July as consumption is on a clearer pickup path, led by job creation and pent-up demand, but real wages are falling amid rising inflation and the weaker yen is eroding purchasing power, according to its […]