FED’S POWELL VAGUE ABOUT WHAT HAPPENS NEXT
–A Quarter-Point Cut and Then Maybe Another One – But Not a ‘Long’ Series By Denny Gulino WASHINGTON (MaceNews) – Federal Reserve Chairman Jerome Powell Wednesday said the day’s first rate cut in a decade is not necessarily the opening gun in an extended series but also not necessarily the only one, depending on whether […]
FOMC DELIVERS ITS QTR POINT CUT DESPITE ‘RISING’ ECONOMY
WASHINGTON (MaceNews) – The Federal Open Market Committee Wednesday delivered a bare-bones statement that aside from the expected quarter-point rate cut information contained less than usual characterizations of the economy, other than activity is “rising,” the labor market continues to be strong and inflation remains below target. The one additional nugget was that the balance […]
FOMC BEGINS WITH CASE FOR RATE CUT STILL NOT CLEAR CUT
–The Boeing 737 MAX Rate Cut? By Denny Gulino WASHINGTON (MaceNews) – If the Federal Open Market Committee wanted some cover to back out of a rate cut Wednesday it could look no farther than toward the Treasury Department which Monday declared, “Downside risks in the second half of 2019 appear to be lessening.” Of […]
US 2ND QTR GDP: TECHNICAL NOTE EXCERPTS
WASHINGTON (MaceNews) – The following are excerpts from the U.S. Bureau of Economic Analysis technical notes which accompany Friday’s report on second-quarter GDP: GDP increased 2.1 percent (annual rate) in the second quarter of 2019, following an increase of 3.1percent in the first. The increase in second quarter real GDP primarily reflected increases in consumer […]
FED’S BEIGE BK: ‘MODEST PACE’ WITH SOME STAGNATION
–No Growth Reported for Chicago, Cleveland Districts. –Some Manufacturers, Information Firms in Northeast Cut Jobs WASHINGTON (MaceNews) – The Federal Reserve’s “Beige Book” summary Wednesday of economic activity through July 8 showed “modest” advances along with stagnation in some Districts, with an overall reading that was positive although little changed. Compiled by the San Francisco […]
US JUNE PAYROLLS +224K, CONFOUNDING FORECASTERS AND IMPERILING RATE CUT
By Denny Gulino WASHINGTON (MaceNews) – The carefully wrought July rate-cut scenario is now challenged by the blockbuster 224,000 surprise payrolls total for June, with Friday’s report pitting economic pessimists against prospects for renewed strength for the longest U.S expansion in history. Many forecasters who were confounded by a return to 200,000 plus payrolls growth […]
FED’S MESTER: U.S. Q2 SLOWDOWN NOT SUFFICIENT TO TRIGGER RATE CUT
By Laurie Laird LONDON (MaceNews) – While U.S. growth appears to have weakened over the second quarter, the current slowdown is insufficient to trigger a reduction in interest rates, according to Cleveland Federal Reserve President Loretta Mester. “Given the current level of the funds rate and my current baseline outlook,” interest rates represent an “appropriate […]
TRUMP-XI MAINTAIN CURRENT TARIFFS, RESTART TALKS FOR 12TH ROUND
–US Chipmakers Can Again Sell to Huawei; China Can Resume U.S. Ag Buys (MaceNews) – The Osaka Castle weekend agreement between U.S. President Donald Trump and China’s Xi Jinping altered the immediate trade landscape significantly, held new tariffs in abeyance “for the time being” and opened the way for another round of talks while freezing […]
US-MEXICO PACT CHANGES DYNAMICS ON TRADE, POLITICS, OUTLOOK
By Denny Gulino WASHINGTON (MaceNews) – It remains to be seen if the U.S.-Mexico agreement eventually cuts Central American migration to the north back anywhere near to the low numbers the Trump Administration inherited yet the aftershocks are likely to nevertheless be consequential. –President Donald Trump is likely to have gained increased confidence in his […]
TEXT OF US-MEXICO DECLARATION ON MEXICO PACT
WASHINGTON (MaceNews) – The following is the joint Mexico-U.S State Department declaration on the agreement announced late Friday between the United States and Mexico that suspends the threat of the first phase of U.S. tariffs being imposed Monday: The United States and Mexico met this week to address the shared challenges of irregular migration, […]