DATA PREVIEW: US REGIONAL DATA, CONFIDENCE KEY RELEASES
By Kevin Kastner WASHINGTON (MaceNews) – The May 25 week starts off with the Memorial Day holiday, but it quickly speeds up from there. Regional conditions data for May are the highlight of the week, with reports from the Philadelphia, Dallas, Richmond and Kansas City Federal Reserve banks and the Chicago PMI on tap ahead […]
US ENERGY SECRETARY: MAY LEASE ADDITIONAL CRUDE OIL STORAGE IN SPR
By Brai Odion-Esene, SW4 Insights, for Mace News WASHINGTON (MaceNews) – The Trump administration is pleased with initial results of its actions to secure crude oil for the national stockpile while easing storage pressures on the struggling oil companies, and might conduct similar operations in the near future, Energy Secretary Dan Brouillette said Thursday. Speaking […]
FED’S CLARIDA: HAVEN’T CHANGED MIND VS NEGATIVE RATES
NEW YORK (MaceNews) – Federal Reserve Vice Chair Richard Clarida Thursday said he has not changed his mind, that there’s no upside to purposely move to negative rates. Speaking in a webinar sponsored by the New York Association for Business Economics, Clarida also underlined the points made Wednesday and previously by Fed Chair Jay Powell, […]
FED’S WILLIAMS: OUTLOOK UNCERTAIN; TO USE TOOLS ‘TO THE UTMOST’ FOR RECOVERY
NEW YORK (MaceNews) – The Federal Reserve remains open to taking more steps as needed to support the recovery, though negative interest rates are not on the table, New York Fed President John Williams said Thursday. Williams, answering questions during a webcast with a regional business group, said the economic outlook and the likely course […]
DATA FLASH: US INITIAL CLAIMS SLOW; EXISTING HOME SALES PLUNGE
–Initial Claims -249,000 to 2.438 Mln; 35.3 Mln Unadjusted Under COVID–May Philly Fed Manufacturing Index Improved to -43.1 From -56.6 in April–April Existing Home Sales Fell to 4.33 Mln from 5.27 Mln In March By Kevin Kastner WASHINGTON (MaceNews) – The U.S. data released on Thursday were a mixed bag, with data for May showing […]
WHITE HOUSE WATCH COMMENTARY: AN INCONSEQUENTIAL VIRUS OBITUARY
By Denny Gulino WASHINGTON (MaceNews) – With by one count 93,382 deaths blamed on the corona virus through Wednesday, each one a life-altering tragedy for a family, there is hardly any point chronicling the death of an inanimate process which few could care about or should. Yet the passing of the early morning ritual of […]
BANK OF CANADA’S LANE SEES ECONOMY, INFLATION DEPRESSED POST-COVID
NEW YORK (MaceNews) – Canada’s economy is likely to emerge from the Covid-19 shutdown period with weaker supply and demand, and lower inflation, due to shutdown “scarring,” Bank of Canada Deputy Governor Tim Lane said Wednesday. “While the steps we have taken should help, we are likely to emerge from the shutdown with both demand […]
BOE’S BAILEY ADMITS TO ‘CHANGING HIS POSITION;’ WON’T RULE OUT NEGATIVE LENDING RATES
By Laurie Laird LONDON (MaceNews) – Bank of England Governor Andrew Bailey declined Wednesday to rule out further reductions in lending rates, admitting that he has “changed his position” on sub-zero rates since mid-March. Facing a question on negative rates posed by Felicity Buchan, a Conservative Member of Parliament serving on the Treasury Select Committee, […]
WHITE HOUSE WATCH COMMENTARY: ’MY DECISION TO MAKE,’ THE NEW VIRUS ANTHEM
By Denny Gulino WASHINGTON (MaceNews) – A few loose ends remain but this whole virus thing is about to be wrapped up, with all the states reopening to some degree, so far no virus rebound evident and a vaccine candidate or two coming along fine. Once that vaccine is nailed down and a few hundred […]
FED’S POWELL/US TSY’S MNUCHIN: MAIN ST LENDING MAYBE BY EARLY JUNE
–June To Be Very Difficult for Jobs –Ready to Take Losses on Emergency Loans WASHINGTON (MaceNews) – Even as parts of the economy sputter into a small-scale reactivation hundreds of billions of dollar of government support are poised to be deployed beginning in the next two weeks, the Treasury secretary and Federal Reserve chairman said […]