Fed Officials Still Divided, Unsure About When and How Much To Cut Interest Rates
By Steven K. Beckner (MaceNews) – Federal Reserve officials have continued this week to muse about cutting interest rates for the first time since December when the Fed’s rate-setting Federal Open Market Committee meets in mid- September, but the FOMC remains divided and unsure. Despite an uptick in inflation, labor market worries have come to […]
ISM: US Services Sector Slows on Weak Demand, Soft Hiring and Rising Costs as Tariffs Begin to Bite
–ISM Services Index 50.1 Vs. 50.8 in June, 49.9 in May, Below Consensus 51.5–ISM’s Miller: Employment Index’s Continued Contraction, Faster Rise in Prices Index Worrisome–Miller: Expansion in Business Activity, New Orders Indexes Highlight Resilience of Services Sector–Miller: Firms Wary of Impact of an Expected Fed Rate Cut as Inflation Remains High By Max Sato (MaceNews) […]
US TARIFFS STATE OF PLAY: New Reciprocal Tariffs Don’t Dispel Uncertainty, Confusion
–Trump Fires Head of the Bureau of Labor Statistics because of alleged manipulation By Denny Gulino WASHINGTON (MaceNews) – With new reciprocal levies raising America’s average tariff rate to above 18% and the latest jobs and ISM reports raising stagflation fears, the overall era of uncertainty seems to have intensified, not diminished. The environment of […]
TRANSCRIPT: Fed’s Powell Stays Away From Promises of a September Rate Cut
.WASHINGTON (MaceNews) – The following is a rough transcript of Wednesday afternoon’s post-FOMC meeting news conference with Federal Reserve Chair Jerome Powell: Despite elevated uncertainty, the economy is in a solid position. The unemployment rate remains low and the labor market is at or near maximum employment. Inflation has been running somewhat above our 2% […]
Preview: Bank of Canada Set to Pause for 3rd Straight Meeting amid Sticky Core Inflation, Uncertainty over US Trade Row Impact on Growth, Costs
–BOC Widely Expected to Keep Policy Rate at 2.75% Wednesday After 7 Rate Cuts Totaling 225 Basis Points from June 2024 Until March 2025–Focus is on Whether Bank will Continue to ‘Proceed Carefully’ and Remain ‘Less Forward-Looking Than Usual’ By Max Sato (MaceNews) – The Bank of Canada is widely expected to maintain its policy […]
US ISM Manufacturing Stays in Contraction in June as Uncertainty Over Trade Conflicts Keeps Firms on Sidelines, Leading to Weak Demand, More Layoffs
–ISM Manufacturing Index at 49.0 Vs. 48.5 in May, Consensus at 48.8–ISM’s Spence: Production Up but Still Fragile, New Orders Falling–Spence: Orders Unlikely to Pick Up Until Trade, Geopolitical Risks Wane By Max Sato (MaceNews) – U.S. manufacturing activity was in contraction for the fourth straight month in June as the uncertainty over protectionist U.S. […]
Preview: Bank of Japan Q2 Tankan to Show Business Sentiment Slipped as Trump Tariffs Hit Auto, Metal Industries, High Costs Slow Consumers Spending
By Max Sato (MaceNews) – The Bank of Japan’s quarterly Tankan business survey is forecast to show confidence was flat or deteriorated in most categories in the June quarter, hit by Trump tariffs on vehicles, metals and other goods, with automakers lowering export prices to pay for higher import costs for U.S. customers, according to […]
Fed’s Powell Allows For Rate Cuts ‘Sooner Rather Than Later” – If Inflation Behaves
– Repeats FOMC Can Afford to Wait and Be Careful Amid Great Uncertainty – Says FOMC Must Be ‘Careful”; Doesn’t Need To Be ‘In Any Rush’ By Steven K. Beckner (MaceNews) – Federal Reserve Chairman Jerome Powell reiterated his belief that the Fed can afford to wait for more evidence on inflation and labor market […]
FOMC: MINIMAL CHANGE IN OUTLOOK; STILL SEE TWO RATE CUTS THIS YEAR BUT SOMEWHAT LESS SO
WASHINGTON (MaceNews) – The Federal Open Market Committee Wednesday made only minuscule adjustments to its outlook, still anticipating two rate cuts this year with slightly less enthusiasm. The Fed;s “dot plot” had seven participants seeing no rate moves this year while eight saw two rate cuts. Another two saw one rate cut. The FOMC’s economic […]
ISRAEL-IRAN UPDATE: Pres Trump Gathers Advisers, Says Iran’s Supreme Leader Safe ‘For Now;’ Tells Tehran to Evacuate; Vance Says Action May Come
WASHINGTON (MaceNews) – There are signs Tuesday afternoon that President Trump is weighing whether to finish off Iran’s capability to produce nuclear weapons by authorizing the use of penetrating “Bunker Buster” bombs dropped by American pilots. Top advisers have been seen entering the White House with a meeting reported under way in the White House’s […]