OIL PRODUCERS WRESTLE W/PRODUCTION CUTS; MKT YAWNS
WASHINGTON (MaceNews) – The United States, OPEC members and other oil-exporting countries Friday wrestled with a daunting task, to persuade traders and customers that they can do something to overcome the biggest destruction of demand in the history of the oil industry. Even the White House tried to square the circle by promising to help […]
DATA FLASH: US MARCH CPI FALLS 0.4% ON ENERGY DROP, CORE DIPS 0.1%
-Travel Restrictions Slash Prices for Hotels, Airline Fares -Consumer Inflation Remains Tame, Food Prices Up on Grocery Shopping By Kevin Kastner WASHINGTON (MaceNews) – Consumer prices fell more than expected in March, with a plunge in energy prices the main factor due to falling oil prices and a reduced demand for gasoline due to telecommuting […]
WHITE HOUSE WATCH COMMENTARY: ‘INADEQUATE’ VS ‘NONEXISTENT’
By Denny Gulino WASHINGTON (MaceNews) – Numbers, graphs, plaintive accounts from hospitals and communities, bereaved relatives – the worst week so far goes on and there’s no way to sugarcoat it. New cases are leveling off but past infections keep leading to deaths now in numbers never seen before. The medical experts hope deaths are […]
FED’S POWELL WARNS AGAINST ‘FALSE STARTS’ RE REOPENING
–Up to $2.3 Trillion in Virus-Related Emergency Support -Powell: Not Worrying About Inflation By Denny Gulino WASHINGTON (MaceNews)- Federal Reserve Chair Jay Powell Thursday explained more about how the central bank is remaking itself to keep intact the structure of an enfeebled economy and he joined the chorus of voices warning against returning to work […]
FED LAUNCHES NEW PACKAGE OF $2.3 TRILLION IN CREDITS
By Steven K. Beckner (MaceNews) – The Federal Reserve’s aggressive credit easing measures since early March have steadied financial markets, though not the economy, but not content to rest on its laurels, the Fed continues to innovate and explore the full extent of its emergency lending powers. The Fed, in conjunction with the U.S. Treasury, […]
DATA FLASH: US INITIAL CLAIMS REMAIN HIGH DUE TO BACKLOGS; MARCH PPI -0.2%
-Initial Claims Level Fall By 261,000 to 6.606 Mln, Continuing Claims Spike -March PPI Data Show Decline in Wholesale Inflation on Energy Prices By Kevin Kastner WASHINGTON (MaceNews) – The level of initial jobless claims fell modestly in the April 4 week, but the current week’s total lifted the number of new claims filed over […]
TEXT: FED DETAILS MAIN ST., OTHER LENDING FACILITIES
WASHINGTON (MaceNews) – The following is the Federal Reserve announcement of details of its new Main Street lending facilities and other programs, released Thursday morning: The Federal Reserve on Thursday took additional actions to provide up to $2.3 trillion in loans to support the economy. This funding will assist households and employers of all sizes […]
WHITE HOUSE WATCH COMMENTARY: VIRUS MYTHS, HOPES, REALITIES HARD TO DISTINGUISH
By Denny Gulino WASHINGTON (MaceNews) – The tiny nation-state of Singapore had done a great job against the virus as has Taiwan and still they are examples to the world that any “win” is more coexistence with an enemy that never really leaves. What does “winning” against a corona virus mean? In the case of […]
Oil Analysis: Low Expectations For Agreement At OPEC-Plus Virtual Gathering
WASHINGTON (MaceNews) – Members of the Organization for Oil Exporting Countries, along with Russia, Mexico and possibly Canada as well as Norway, are set to meet virtually Thursday to hash out an agreement to halt the months-long plunge in oil prices. However, expectations are low that a deal will be reached to ease a situation […]
WHITE HOUSE WATCH COMMENTARY: THE ECONOMY STRAINS AS THE VIRUS KILLS
By Denny Gulino WASHINGTON (MaceNews) – It’s almost too painful to concentrate on the numbers in this week that is so full of death in the United States. Better to look to a better future and an economy that might begin staggering back at some point. The day saw more than an additional 1,800 dead, […]