Wht Hse Transcript: Background Briefing on Biden Omicron Address
WASHINGTON (MaceNews) – The following is the White House transcript of Monday night’s background teleconference previewing President Biden’s address Tuesday afternoon (2:30p ET) on the Omicron variant and prospective measures – too late to meet the challenges of holiday gatherings – being taken to mitigate its impact: Background Press Call Previewing the President’s Speech on […]
The Manchinator Chews Through Dem’s ’22 Hopes; Republicans Rejoice
By Denny Gulino WASHINGTON (MaceNews) – The shock wave from what many Democrats see as Sunday’s betrayal by their own Sen. Joe Manchin, killing the Build Back Better bill supporting Democratic hopes for next year’s mid-term elections, triggered anger and despondency on one side of the aisle and rejoicing and hallelujahs on the other side. […]
Fed’s Waller Urges March Funds Rate Liftoff, Followed by Balance Sheet Shrinking
By Steven K. Beckner (MaceNews) – Federal Reserve Governor Christopher Waller Friday said the Fed should start raising short-term interest rates “shortly” after it finishes buying bonds in March – perhaps immediately thereafter. What’s more, Waller advocated starting to shrink the Fed’s bloated balance sheet soon after it starts raising the federal funds rate, which […]
Analysis: Fed Ponders What Puts Out This Peculiar Inflation Fire
–Overheating or Super Squeezing? By Denny Gulino WASHINGTON (MaceNews) – Federal Reserve Chair Jay Powell Wednesday reassured his press conference viewers the central bank has the tools it needs to make sure aggressive inflation doesn’t last too long, reinforcing the narrative this inflation episode will meet its match. But what if the seeds of deflation […]
FOMC Doubles Taper to End Bond Buying in March as Inflation Forces Hawkish Tilt
—Three 2022 Rate Hikes Now Projected By FOMC Participants –Powell Hints At Quick Start To Funds Rate Liftoff After Taper Ends By Steven K. Beckner (MaceNews) – Federal Reserve policymakers moved dramatically, though not unexpectedly, Wednesday to adopt a more aggressive stance against inflation. The FOMC said it anticipates “similar reductions” in subsequent months, although […]
TEXT: FOMC Statement: Doubles Pace of Taper
WASHINGTON (MaceNews) – The Federal Open Market Committee Wednesday met expectations for a doubling of the pace of tapering and participants increased their calls for three rate hikes next year. The text of the policy statement follows: The Federal Reserve is committed to using its full range of tools to support the U.S. economy in […]
BofA Global Research Fund Manager Survey: Global Investors Increase Cash Holdings In December In Anticipation of World Central Bank Tightening in 2022
–On Average, Investors Expect Fed Taper to End by April 2022 By Vicki Schmelzer NEW YORK (MaceNews) – Global investors increased their cash holdings in December, wary of putting new monies to work ahead of expected world central bank tightening in 2022, according to the findings of BofA Global Research’s monthly fund manager survey, released […]
Analysis: Inflation-Wary FOMC Seems Headed Toward a Quicker Pace of Tapering, Rate Hikes
– Wage-Price Trends Have Dramatically Changed the Fed’s Policy Calculus By Steven K. Beckner (MaceNews) – Who would have imagined just a short time ago that the Federal Reserve would not only be accelerating reductions of asset purchases before year’s end, but signaling an intention to raise short-term interest rates sooner and more rapidly than […]
No US Government Shutdown
By Eric Ham WASHINGTON (MaceNews) – The Senate late Thursday agreed with an earlier vote in the House and successfully avoided a government shutdown Friday night. The Senate vote was a bipartisan 69 to 28 to extend the current federal budget to Feb. 18. An earlier Senate vote that could have demolished the plan of […]
FOMC Minutes: No Wage-Price Spiral But Ready to Accelerate Taper if Inflation More Persistent, Aggressive
WASHINGTON (MaceNews) – The minutes of the Nov 2-3 Federal Open Market Committee meeting released Wednesday repeated familiar themes about pandemic-caused inflation factors, labor supply issues and so far, the absence of a wage-price spiral. Members advocated contninued vigilance about the intensity of price pressures. Fears that inflation expectations were being elevated beyond previous ranges […]