IMF WEO UPDATE: GLOBAL GROWTH REMAINS SUBDUED
–Trade Tensions, Brexit Trim Tenth From Global Growth to 3.2% This Year –Growth Projections for 2020 ‘Is Precarious’ –Risks ‘Mainly to the Downsides –Chides US for Using Tariffs Vs Bilateral Trade Balances WASHINGTON (MaceNews) – The International Monetary Fund’s mid-year update to its World Economic Outlook Tuesday saw only extremely modest downgrades in growth projections, […]
FED’S BEIGE BK: ‘MODEST PACE’ WITH SOME STAGNATION
–No Growth Reported for Chicago, Cleveland Districts. –Some Manufacturers, Information Firms in Northeast Cut Jobs WASHINGTON (MaceNews) – The Federal Reserve’s “Beige Book” summary Wednesday of economic activity through July 8 showed “modest” advances along with stagnation in some Districts, with an overall reading that was positive although little changed. Compiled by the San Francisco […]
BANK OF CANADA SEES UNCERTAIN OUTLOOK ON GLOBAL WORRIES
By Gordon Isfeld OTTAWA (MaceNews) – Growing pressure on the global economy may not have seriously dented the outlook for Canada’s near-term growth, but other factors – such as international trade frictions and lingering squabbles over how to resolve the Brexit crisis – are continuing to contribute to growth uncertainty. “Evidence has been accumulating that ongoing […]
US JUNE PAYROLLS +224K, CONFOUNDING FORECASTERS AND IMPERILING RATE CUT
By Denny Gulino WASHINGTON (MaceNews) – The carefully wrought July rate-cut scenario is now challenged by the blockbuster 224,000 surprise payrolls total for June, with Friday’s report pitting economic pessimists against prospects for renewed strength for the longest U.S expansion in history. Many forecasters who were confounded by a return to 200,000 plus payrolls growth […]
FED’S MESTER: U.S. Q2 SLOWDOWN NOT SUFFICIENT TO TRIGGER RATE CUT
By Laurie Laird LONDON (MaceNews) – While U.S. growth appears to have weakened over the second quarter, the current slowdown is insufficient to trigger a reduction in interest rates, according to Cleveland Federal Reserve President Loretta Mester. “Given the current level of the funds rate and my current baseline outlook,” interest rates represent an “appropriate […]
TRUMP-XI MAINTAIN CURRENT TARIFFS, RESTART TALKS FOR 12TH ROUND
–US Chipmakers Can Again Sell to Huawei; China Can Resume U.S. Ag Buys (MaceNews) – The Osaka Castle weekend agreement between U.S. President Donald Trump and China’s Xi Jinping altered the immediate trade landscape significantly, held new tariffs in abeyance “for the time being” and opened the way for another round of talks while freezing […]
ANALYSIS: NOT ALL ‘UNCERTAINTIES’ FREEZING MONPOL, SLOWING INVESTMENT, STRICTLY GEOPOLITICAL
By Denny Gulino WASHINGTON (MaceNews) – The S&P 500 is at record levels, all the tariffs so far have hardly bitten the U.S. economy, retail sales in a consumer dominated framework are strong and the U.S. unemployment rate is only 3.6%. And yet the markets are 100% certain of a rate cut next month. Interest […]
CANADA’S PACE OF INFLATION INCREASES IN MAY
By Gordon Isfeld OTTAWA (MaceNews) – Prices for Canadian goods surged in May, with the overall cost of consumer items jumping by 2.4% annualized- up from 2.0% in April – and marking the biggest year-over-year increase since October of last year, Statistics Canada said Wednesday. The gains in consumer costs were led by food items, which […]
TEXT OF G20 COMMUNIQUE OF FINMINS, CENBANK GOVS
(MaceNews) – The following is the text of the communique issued Sunday after the meeting in Fukuoka, Japan, of finance ministers and central bank governors. The meeting was held in preparation for the summit of G20 heads of state that will be held in Osaka June 28-29. The final text, provided by the Japan Ministry […]
US-MEXICO PACT CHANGES DYNAMICS ON TRADE, POLITICS, OUTLOOK
By Denny Gulino WASHINGTON (MaceNews) – It remains to be seen if the U.S.-Mexico agreement eventually cuts Central American migration to the north back anywhere near to the low numbers the Trump Administration inherited yet the aftershocks are likely to nevertheless be consequential. –President Donald Trump is likely to have gained increased confidence in his […]