DATA PREVIEW: AFTER PARTIAL RECOVERY IN MAY, FOCUS TURNS TO JUNE
By Kevin Kastner WASHINGTON (MaceNews) – After solid improvement in the May U.S. data released over the last two weeks, the focus in the coming week turns to the early-June regional conditions data. June readings from the New York Fed and Philadelphia Fed released this previous week indicated continued improvement, with the Philadelphia Fed’s reading […]
DATA FLASH: US INITIAL CLAIMS FALL FURTHER, PHILADELPHIA FED JUMPS
––Initial Claims -58,000 to 1.508 Mln; 41.8 Mln Unadj Total Under COVID-–Philly Fed Manufacturing Index Surges to 27.5 in June from -43.1 in May By Kevin Kastner WASHINGTON (MaceNews) – U.S. initial jobless claims filings fell further in the current week, but the pace of weekly declines has slowed and the level itself remains extremely elevated. […]
FED’S MESTER: ‘VERY ACCOMMODATIVE POLICY NEEDED’ WITH FUNDS RATE UNCH. THROUGH END 2022
NEW YORK MaceNews) – Cleveland Federal Reserve President Loretta Mester said monetary policy needs to stay “very accommodative” and she agrees with her colleagues that the federal funds target should remain unchanged through 2022. In remarks for delivery on a webinar, said she and her colleagues agree a recovery is under way beginning in the […]
FED’S POWELL: TO WATCH TO SEE IF CORP BOND BUYS NEEDED
–Don’t Want to Run Through Corporate Bond Market ‘Like an Elephant’ WASHINGTON (MaceNews) – Federal Reserve Chairman Jay Powell Tuesday underlined his question whether government’s coronavirus response will be sufficient, suggesting more will be needed, and he conceded the new “Main St.” lending program’s corporate bond purchases may no longer be as necessary as originally […]
DATA FLASH: US MAY RETAIL SALES SURGE BY 17.7% ON REOPENINGS
–Retail Sales Excluding Motor Vehicles Rose 12.4%; Vehicle Sales Surge 44.1%–Industrial Production Rose 1.4%, Motor Vehicle Production Rebounds by 120.8%–NAHB Index Jump To 58 in June From 37 in May, Suggests Stronger Home Building Ahead–Business Inventories Down 1.3% in April, Business Sales Down 14.4% By Kevin Kastner WASHINGTON (MaceNews) – As social distancing eased in […]
FED’S DALY: READY TO ‘PIVOT’ TO STIMULUS WHEN VIRUS CRISIS ENDS
WASHINGTON (MaceNews) – The Federal Reserve’s emergency relief programs will give way to stimulus and a focus on lowering unemployment whenever the coronavirus crisis has ebbed, San Francisco Fed President Mary Daly said Monday. Speaking at a National Press Club-sponsored event and later to reporters, Daly said it would make no sense to focus on […]
FED’S KAPLAN Q&A: DUBIOUS ON YIELD CURVE TARGETING
–Dallas Fed President Says Businesses Face ‘Gut Check’ in August/September NEW YORK (MaceNews) – Dallas Fed President Robert Kaplan said Monday he is dubious about suggestions the Fed target interest rate levels along the US Treasury yield curve as a policy tool. Kaplan, responding to a question during a web appearance, said he would not […]
WHITE HOUSE WATCH COMMENTARY: NECESSITY BRINGS INNOVATION AMID TURMOIL
By Denny Gulino WASHINGTON (MaceNews) – Who would have guessed you can track government spy planes above Washington protests via certain Web sites, or that a bankrupt Hertz can consider issuing stock or that the ubiquity of smartphones would transform the legacy of slavery forever? We’re learning so much as 2020’s second half begins. That […]
DATA PREVIEW: WAS MAY THE TURNING POINT? LET’S FIND OUT
By Kevin Kastner WASHINGTON (MaceNews) – The May U.S. data have been modestly uplifting to this point, specifically the surprise payrolls gain and lower unemployment rate, improved inflation data, and a smaller contraction in manufacturing conditions. None of it came close to making up for the terrible March and April readings, but it’s a start. […]
DATA FLASH: US INITIAL CLAIMS SLOW FURTHER; MAY PPI ABOVE EXPECTED
–Initial Claims -355,000 to 1.542 Mln; 40.4 Mln Unadj Total Under COVID–May PPI Up 0.4%, But Down 0.1% Ex Food and Energy; Gasoline +43.9%. By Kevin Kastner WASHINGTON (MaceNews) – The U.S. jobless claims data released earlier Thursday pointed to continued improvement for both new filings and existing filings, but the levels of both remain extremely […]