Category: Government

ITALY RECOVERY AHEAD, BACK TO PRE-PANDEMIC LEVELS IN 2023 – BOI

By Silvia Marchetti ROME (MNI) – The Bank of Italy Friday forecast an average 3.5% GDP growth this year, 3.8% in 2022 and and 2.3% in 2023 when pre-crisis levels are expected to be recovered. In its economic bulletin the BOI said the European Central Bank’s ongoing accommodative policy stance and new European measures aimed […]

FED’S POWELL: NOW NOT TIME TO TALK ABOUT EXIT; WON’T CONSIDER UNTIL GOALS REACHED

— Vows To Communicate Very Clearly To Markets To Avoid 2013-style ‘Taper Tantrum’ By Steven K. Beckner (MaceNews) – Federal Reserve Chairman Jerome Powell stressed Thursday that the Fed is far from “exiting” either its zero short-term interest rate stance or its aggressive asset purchase program and proclaimed that the Fed will clearly communicate its […]

STATUS CHECK COMMENTARY: THE WASHINGTON MINDSET GETS A MAKEOVER

WASHINGTON (MaceNews) – The following is Thursday’s status check of developments in the U.S. that can influence economic, health and political outcomes. • The thousands of government affairs specialists paid by American business firms to be their eyes, ears and arm-wrestlers in Washington are in the midst of the major recalibration that happens when a […]

ECB SIGNALS LESS RELIANCE ON QE AMID SIGNS OF GOVERNING COUNCIL DISAGREEMENT

–Minutes of December Meeting Suggest Council May Not Exhaust Emergency QE Allocation By Laurie Laird LONDON (MaceNews) – The European Central Bank could rely more heavily on its long-term refinancing operations in combatting the Covid-related economic downturn, although minutes of the December rate-setting meeting suggest some disagreement about the appropriate policy path. “The focus on […]

PRESIDENT TRUMP NOW FACES AN UNCERTAIN FATE AT A SENATE TRIAL

By Denny Gulino WASHINGTON (MaceNews) – The second impeachment of President Donald Trump Wednesday has left open the future of his “stop the steal” movement entwined with the violent attack on the Capitol. The next step, a Senate trial, could clarify what happens next. The final vote was 232 to 197 with eight members not […]

FED’S BEIGE BK SEES MODEST EXPANSION AMID MIXED SIGNALS

WASHINGTON (MaceNews) – The surge in COVID-19 cases and “stricter containment measures” have produced mixed results for consumer spending while manufacturing has continued to recover despite weaker auto sales, the Federal Reserve’s Beige Book survey suggested Wednesday. Four districts – Kansas City, Philadelphia, St. Louis and New York – reported no improvement and “a growing […]

ECB’S LAGARDE: BANK TO FOCUS ON ‘FINANCING CONDITIONS;’ DOWNPLAYS EXPANSION OF PEPP

–Ongoing Strategic Review Will Assess Inflation Measurement and ‘Symmetry’ in Meeting Target By Laurie Laird LONDON (MaceNews) – The European Central Bank could continue to rely on its long-term financing operations to provide stimulus to the Covid-stricken euro zone economy rather than expanding its asset purchase programme, according to the Bank’s leader Wednesday. “We’re going […]

STATUS CHECK COMMENTARY: BARBARIANS INSIDE THE GATE TEST AMERICA

WASHINGTON (MaceNews) – The following is Tuesday night’s status check of developments in the U.S. that can influence economic, health and political outcomes. ·        As often noted about the U.S. Congress, months, even years can go by without much getting done but every once in a while there’s an explosion of activity. After the financial […]

FED’S GEORGE: TOO SOON TO THINK OF ADJUSTING MONETARY POLICY; MUST ‘WAIT AND SEE’

–Fed Won’t Hike Funds Rate If Inflation Goes Over 2% –Would Have To Decide How To React if Inflation Rises in ‘Unanticipated Ways’ By Steven K. Beckner (MaceNews) – Kansas City Fed President George said Tuesday that monetary policy needs to “remain accommodative for some time” and said it’s “too soon to speculate about the […]