DATA FLASH: US APRIL PPI FALLS 1.3% ON ENERGY; Y/Y RATE TURNS NEGATIVE
-Prices Ex. Food/Energy -0.3%; Down 0.9% Ex-Trade Services as Well-Energy Prices Drop 19.0% on a 56.6% Plunge in Gasoline Prices By Kevin Kastner WASHINGTON (MaceNews) – Wholesale prices declined more than expected in April, led by energy prices again, the Labor Department reported Wednesday. The inflation data are all moving in the same downward direction, […]
WHITE HOUSE WATCH COMMENTARY: ONE WORD SAID IT ALL – ‘INEVITABLE’
By Denny Gulino WASHINGTON (MaceNews) – The testimonies of Fauci, Redfield, Hahn and Giroir Tuesday seemed to many, perhaps even a lot of investors and traders, like something new when in fact there was not only nothing new, but what was there was way too late. The testimonies, if anything, just demonstrated again it’s not […]
FED’S HARKER: FED TO KEEP RATES LOW UNTIL A ‘DEMONSTRABLE MOVE’ TOWARD NORMAL ECONOMY
By Jon Hurdle PHILADELPHIA (MaceNews) – Philadelphia Federal Reserve President Patrick Harker said on Tuesday that interest rates will remain low until policy-makers see clear evidence that the economy is recovering from the Covid-19 pandemic. “We have committed in the FOMC to move rates to essentially zero. The Fed Funds rate is between zero and […]
ST. LOUIS FED’S BULLARD: US ECONOMIC REBOUND LIKELY IN 2H; NO NEGATIVE RATES
NEW YORK (MaceNews) – After its record drop in the second quarter, the US economy is likely to see a record rebound in the third quarter, St. Louis Federal Reserve President James Bullard said Tuesday. Bullard, answering questions during a webcast, said a record rebound in the third quarter is likely, a “big plus number,” […]
DATA FLASH: US APRIL CPI FALLS 0.8%, CORE -0.4%, LARGEST DROP EVER
–Energy Prices Account for Most of Headline Decline; Foods Prices Up–Owners’ Equivalent Rents Up 0.2%, Lodging Away from Home Cut 7.1% By Kevin Kastner WASHINGTON (MaceNews) – Consumer prices fell as expected in April, with a plunge in energy prices the key factor due to severely reduced demand for gasoline as consumers stayed off the […]
WHITE HOUSE WATCH: AMID THE TESTING HAZE, A BREAKTHROUGH
By Denny Gulino WASHINGTON (MaceNews) – It has been a little more than two weeks since there has been a Corona Virus Task Force briefing and Monday’s substitute, a presidential briefing, was intended to illustrate vast progress made in making virus testing widely available. The Rose Garden even had added to the background two large […]
CHICAGO FED’S EVANS: FACTORIES SHOW SIGNS OF ADAPTING TO MEET HEALTH CHALLENGES
NEW YORK (MaceNews) – The economic outlook remains uncertain, but steps by manufacturers to protect workers from Covid-19 in the workplace show how businesses can adapt and recovery can unfold, Chicago Fed President Charles Evans said Monday. Evans, in remarks prepared for delivery in a virtual meeting with the Lansing, Michigan Chamber of Commerce, recounted […]
WHITE HOUSE WATCH: HOT OR COLD WAR, OR PEACE FOR OUR TIME?
By Denny Gulino WASHINGTON (MaceNews) – We all know the big things in our lives that are changing because of the new consciousness of health risks and the sense of shared responsibility we feel for those around us, particularly the seniors, but there are less obvious and more subtle threats we have to deal with […]
WHITE HOUSE WATCH COMMENTARY: MARKETS HAPPY, PRESIDENT”S OPTIMISTIC
By Denny Gulino WASHINGTON (MaceNews) – The week ends with once again everything that involves the corona virus falling neatly into place : the stock markets end a stellar string of positive trading days, the president said we don’t even need a vaccine and at least 45 states have some reopenings under way despite the […]
US APRIL DATA WILL BE MORE OF THE SAME; EYES ON FRIDAY’S MAY DATA
By Kevin Kastner WASHINGTON (MaceNews) – The mid-month consumption, production and price reports for April released next week will be extremely weak, and as a result will likely be shrugged off by markets that are already numb from all the bad news. Instead, attention should be focused on next Friday’s release of the May Empire […]