DATA FLASH: US APRIL PAYROLLS PLUNGE 20.5 MLN, UNEMP RATE 14.7%
–Virus Impact to Remain for Several Mos, Changes Likely to Be Smaller–Hourly Earnings Surge 4.7% , Most Job Losses in Lower-Incomes By Kevin Kastner WASHINGTON (MaceNews) – The April employment report Friday represented the full effect of the COVID-19 shutdown with payrolls posting the largest decline on record and the unemployment rate rising to the […]
WHITE HOUSE WATCH: HAPPY ENDING, UNHAPPY ENDING OR NO ENDING?
By Denny Gulino WASHINGTON (MaceNews) – Amid all the bad virus news there are a few nuggets of good news. How much good news could there be when another 2,000 or more Americans are killed by the virus every day. One set of projections see that increasing to 3,000 a day by the end of […]
DATA FLASH: US INITIAL CLAIMS LEVEL SLIPS FURTHER; 33.5 MLN TOTAL SINCE MID-MARCH
–Initial Claims Down 677,000 to 3.169 Mln; Continuing Claims Climbing–Nonfarm Productivity Drops 2.5% in the 1Q, Unit Labor Costs Up 4.8%–Challenger: Record 671,129 Apr Layoff, Led by Entertainment/Leisure By Kevin Kastner WASHINGTON (MaceNews) – One day before the April employment report release, data released on Thursday showcased the damage the national shutdown continues to have […]
WHITE HOUSE WATCH COMMENTARY: WELCOME TO THE VIRUS TASK FORCE
By Denny Gulino WASHINGTON (MaceNews) – A visiting Iowan was in the Oval Office Wednesday and the president said, “I think you should be on the Task Force. Would you like to do that? And so another day in the White House demonstrated that the mantra for everyone on the Wall Streets of the world, […]
US TREASURY TO LIFT AUCTION SIZES TO MEET MASSIVE BORROWING NEED
By Kevin Kastner WASHINGTON (MaceNews) – The U.S. Treasury plans to raise the sizes of all its nominal securities auctions to meet the pressing fiscal need of the COVID-19 crisis, their quarterly refunding statement released on Wednesday showed. On Monday, Treasury had announced that it expected to borrow $3 trillion in the current quarter, much […]
WHITE HOUSE WATCH COMMENTARY: WHY FIXATE ON FACTS – OR ‘FACTS?’
By Denny Gulino WASHINGTON (MaceNews) – The Corona Virus Task Force has done its job and the new projections of virus death tolls are so high because they assume no further mitigation efforts. Facts? Who are we to question high officials? Why does anyone question anything? Profound questions – about questions – which probably relate […]
FED’S CLARIDA, BULLARD LOOK FOR ECONOMIC RECOVERY THIS YEAR
–US Stocks Sag When Clarida Reminds Fed Emergency Lending Only Temporary WASHINGTON (MaceNews) – Federal Reserve Vice Chair Richard Clarida Tuesday said recovery from the economic shutdown “can commence in the second half” while St. Louis Fed President James Bullard said he sees the fourth quarter as when the virus can be put “behind us.” […]
CHICAGO FED’S EVANS: ‘REASONABLE’ TO EXPECT RECOVERY BY 2H 2020, BUT LOOKING ‘QUARTER BY QUARTER’
By Suzanne Cosgrove CHICAGO (MaceNews) – After a sharp contraction in the first half, it is “reasonable” to expect the US economy to pick up in the second half of 2020, Chicago Federal Reserve Bank President Charles Evans said Tuesday. In a media conference call, Evans cautioned that he would have to evaluate economic conditions […]
TEXAS OIL REGULATOR VOTES AGAINST CAPPING STATE’S OIL PRODUCTION LEVELS
–Waives Fees, Relaxes Regulations To Support Companies And Boost Storage Capacity By Brai Odion-Esene, SW4 Insight, for Mace News WASHINGTON (MaceNews) – Texas’ oil regulator Tuesday decided against imposing limits on production by the state’s energy industry, but approved financial and regulatory relief to struggling oil companies. The measures passed by the Texas Railroad Commission focused […]
WHITE HOUSE WATCH COMMENTARY: LET’S NOT ABANDON VIRUS HAPPY TALK TOO SOON
By Denny Gulino WASHINGTON (MaceNews) – The economy’s is going to be back soon, bigger and better than ever, testing is in great shape and we’re going to have stadiums packed shoulder to shoulder and one more thing, sometimes fantasy isn’t all bad. Watching the crowds at the Michigan statehouse protesting and in Boston and […]