COVID-19 CRISIS SPEEDS UP USE OF DIGITAL PAYMENTS
–Wider Use Of Central Bank Digital Currencies Explored By Vicki Schmelzer NEW YORK MaceNews) – The coronavirus pandemic has forced world central banks, already struggling to deal with cryptocurrencies, stable coins and other non-traditional monies, to up their game on the use of digital currencies and other new technologies. “COVID-19 has forced an unprecedented experiment in […]
DATA FLASH: US INITIAL CLAIMS SLOW FURTHER; MAY PPI ABOVE EXPECTED
–Initial Claims -355,000 to 1.542 Mln; 40.4 Mln Unadj Total Under COVID–May PPI Up 0.4%, But Down 0.1% Ex Food and Energy; Gasoline +43.9%. By Kevin Kastner WASHINGTON (MaceNews) – The U.S. jobless claims data released earlier Thursday pointed to continued improvement for both new filings and existing filings, but the levels of both remain extremely […]
FED’S POWELL: DOING ALL WE CAN; WILL IT BE ENOUGH?
–‘Dot Plot’ Shows Assumptions of No Rate Hikes Through 2022 –To Sustain Pace of Treasuries, MBS Purchases By Denny Gulino WASHINGTON (MaceNews) – Federal Reserve Chair Jay Powell Wednesday offered reassurance policymakers are not even “thinking about thinking” about raising rates and shared his worries about possible long-term post-crisis unemployment. Answering questions after the Federal […]
FOMC POLICY STATEMENT JUNE 10, 2020
The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. The coronavirus outbreak is causing tremendous human and economic hardship across the United States and around the world. The virus and the measures taken to […]
DATA FLASH: US MAY CPI FALLS 0.1% BEFORE JUNE DEMAND PICKUP
–Core Prices Also Down 0.1%; Ex. Only Energy, CPI Up 0.1%.–Energy Prices Again Down Sharply; Foods Prices Rise on Food at Home–Owners’ Equivalent Rents Up 0.3%, Lodging Away from Home Down 1.5% By Kevin Kastner WASHINGTON (MaceNews) – U.S. consumer prices were below the flat reading expected, as energy prices declined further, but demand is […]
DATA PREVIEW: PROTESTS COMPLICATE FOMC STATEMENT AMID RECOVERY
By Kevin Kastner WASHINGTON (MaceNews) – After the May employment report showed slight improvement after the overwhelmingly negative April report, the attention in the week ahead turns to the monthly U.S. inflation reports and Wednesday’s FOMC meeting, as well as the first look at June consumer confidence. The FOMC meets Tuesday and Wednesday at a […]
DATA FLASH: US MAY PAYROLLS RISE BY 2.5 MLN, UNEMPLOYMENT RATE 13.3%
–Employ Data Still Show Considerable COVID Impact Even as Data Turns Up–Food Services, Retail, Medical Jobs Lead Gain; Hourly Earnings -1.0% By Kevin Kastner WASHINGTON (MaceNews) – The May employment report showed further impact of the COVID-19 shutdown, but there was no question that the surprisingly positive data point to a turning point after […]
USTR LIGHTHIZER CASTS CHINA RELATIONSHIP IN ROSY HUES
–Doing OK in Adherence to Phase 1 Commitments –China Pullback in Ag Purchases ‘Not True.’ NEW YORK (MaceNews) – President Trump’s top trade negotiator Thursday cast U.S.-China relations, at least in his sphere, in unexpectedly positive terms and called reports of a setback in purchases of U.S. soybeans perhaps the result of “disinformation.” U.S. Trade […]
BANK OF CANADA’S GRAVELLE: POLICY-MAKERS ‘HOPEFUL,’ WATCHING DATA AS ECONOMY REOPENS
NEW YORK (MaceNews) – Bank of Canada policy-makers are hopeful the pandemic’s economic impact has peaked, but admit there’s much uncertainty how the recovery will unfold, BOC Deputy Governor Toni Gravelle said Thursday. Gravelle, in remarks prepared for delivery during an online meeting, said the bank will be watching economic data closely to gauge the […]
DATA FLASH: US INITIAL CLAIMS SLOW FURTHER; APRIL TRADE GAP WIDENS
-–Initial Claims -249,000 to 1.877 Mln; 38.8 Mln Total Under COVID–-Int’l Trade Gap $49.4 Bln vs $42.3 Bln In March; China Gap Surges-–Nonfarm Productivity Rev Up to -0.9%, Unit Labor Costs Rev Up to +5.1%. By Kevin Kastner WASHINGTON (MaceNews) – The U.S. initial claims data came in above expectations Thursday but still posted a ninth […]