BOSTON FED CHIEF: ‘NOT OVERLY WORRIED’ ABOUT US ECONOMY
By Scott Van Voorhis EASTON, Mass. (MaceNews) – Shrugging off stock market turbulence and a deepening trade war, Boston Federal Reserve Bank President Eric Rosengren is taking a bullish view of the health of the national economy. While Fed officials are keeping a close eye on potential recession indicators, Rosengren said he is fairly comfortable […]
WHITE HOUSE WATCH: TARIFFS ARE A GO FOR SUNDAY AND ‘I GUESS’ CHINA MEET STILL ON
By Denny Gulino THE WHITE HOUSE (MaceNews) -For some reporters standing on the South Lawn driveway Friday evening there was only one question to ask: Are the latest escalated tariffs still on for Sunday. And yes, they are. President Trump talked about hurricane preparations – his Mar a Lago is “dead center – his close […]
WHITE HOUSE WATCH: STOCKS SOAR AS TRADERS SEE HOPE IN CHINA COMMENTS
By Denny Gulino THE WHITE HOUSE (MaceNews) – The statement from China’s Ministry of Commerce could have been more definitive yet it certainly wasn’t the negative declaration some had anticipated, so it was off to the “risk on” races Thursday. The Dow industrials and the S&P 500 held gains of around 1.4% through mid afternoon, […]
TECHNICAL NOTE, US REVISED 2ND QTR GDP – US BEA
WASHINGTON (MaceNews) – The following is the Bureau of Economic Analysis technical note that accompanied Thursday’s revised report on second quarter gross domestic product: Sources of Revision to Real GDP Real GDP increased 2.0 percent (annual rate) in the second quarter of 2019, a downward revision of 0.1 percentage point from the “advance” estimate. The […]
WHITE HOUSE WATCH: MKTS HOPE NO NEWS ON CHINA IS GOOD NEWS
By Denny Gulino THE WHITE HOUSE (MaceNews) – Yes, there were calls with China officials the White House insists, as the clock ticks toward the Sunday imposition of the first phase of higher tariffs on many China products. China officials on Wednesday still withheld confirmation of any talks, either telephone calls in the past or […]
WHITE HOUSE WATCH UPDATE: WAITING FOR TRUMP TO BACK OFF OR AFFIRM SUNDAY’S TARIFFS
By Denny Gulino THE WHITE HOUSE (MaceNews) – President Donald Trump kept his tweets coming Tuesday afternoon, again slamming the Federal Reserve while staying away from the topic of China as he has since returning from the weekend in France. One of the other Trumps – “live” Trump – had repeatedly declared China’s Xi Jinping […]
JACKSON HOLE: POWELL STAYS NONCOMMITTAL ON FURTHER RATE CUTS
By Steven K. Beckner (MaceNews) – Ever since the Federal Reserve’s policymaking Federal Open Market Committee cut interest rates modestly for the first time in 11 years on July 31, financial markets have been eagerly waiting to see what Chairman Jerome Powell’s monetary policy posture would be three weeks later at the Fed’s annual Jackson […]
FED’S POWELL: FIXATED ON DATA POINTS IN ‘EVENTFUL’ PRELUDE TO FOMC
WASHINGTON (MaceNews) – Key excerpts of Federal Reserve Chair Jerome Powell’s Jackson Hole speech Friday, “Challenges for Monetary Policy” with boldfaced emphasis added: People who live and work in low- and middle-income communities tell us that this job market is the best anyone can recall. We increasingly hear reports that employers are training workers who […]
FOMC MINUTES SHOW NO PROMISE OF MORE RATE CUTS
–Wanted to Avoid ‘Any Appearance of Following Pre-Set Course’ –Meandering Discussion Struggles for Consensus; Saw ‘Absence of Clarity’ –‘Uncertainty’ and ‘Uncertainties’ Make Frequent Appearances By Denny Gulino WASHINGTON (MaceNews) – The view that the top Federal Reserve policymakers are as confused as everyone else in an environment of sharply conflicting signals – strong domestic jobs […]
JULY CPI’S POP QUICKLY KNOCKED INTO IRRELEVANCE AS MKTS MOVE
–July CPI Core +0.3%; Y/Y +2.2% By Denny Gulino WASHINGTON (MaceNews) – Tuesday’s CPI pop, an excursion a tenth higher than the inflation comfort level, had no sooner depressed stock futures than the White House signaled a major softening of the impending tariff attack on China, igniting an explosion of share prices and halting the […]