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 […]
FED’S POWELL: DOING ALL WE CAN; WILL IT BE ENOUGH?
–‘Dot Plot’ Shows Assumptions of No Rate Hikes Through 2022 –To Sustain Pace of Treasuries, MBS Purchases By Denny Gulino WASHINGTON (MaceNews) – Federal Reserve Chair Jay Powell Wednesday offered reassurance policymakers are not even “thinking about thinking” about raising rates and shared his worries about possible long-term post-crisis unemployment. Answering questions after the Federal […]
DATA FLASH: US MAY CPI FALLS 0.1% BEFORE JUNE DEMAND PICKUP
–Core Prices Also Down 0.1%; Ex. Only Energy, CPI Up 0.1%.–Energy Prices Again Down Sharply; Foods Prices Rise on Food at Home–Owners’ Equivalent Rents Up 0.3%, Lodging Away from Home Down 1.5% By Kevin Kastner WASHINGTON (MaceNews) – U.S. consumer prices were below the flat reading expected, as energy prices declined further, but demand is […]
DATA PREVIEW: PROTESTS COMPLICATE FOMC STATEMENT AMID RECOVERY
By Kevin Kastner WASHINGTON (MaceNews) – After the May employment report showed slight improvement after the overwhelmingly negative April report, the attention in the week ahead turns to the monthly U.S. inflation reports and Wednesday’s FOMC meeting, as well as the first look at June consumer confidence. The FOMC meets Tuesday and Wednesday at a […]
DATA FLASH: US MAY PAYROLLS RISE BY 2.5 MLN, UNEMPLOYMENT RATE 13.3%
–Employ Data Still Show Considerable COVID Impact Even as Data Turns Up–Food Services, Retail, Medical Jobs Lead Gain; Hourly Earnings -1.0% By Kevin Kastner WASHINGTON (MaceNews) – The May employment report showed further impact of the COVID-19 shutdown, but there was no question that the surprisingly positive data point to a turning point after […]
USTR LIGHTHIZER CASTS CHINA RELATIONSHIP IN ROSY HUES
–Doing OK in Adherence to Phase 1 Commitments –China Pullback in Ag Purchases ‘Not True.’ NEW YORK (MaceNews) – President Trump’s top trade negotiator Thursday cast U.S.-China relations, at least in his sphere, in unexpectedly positive terms and called reports of a setback in purchases of U.S. soybeans perhaps the result of “disinformation.” U.S. Trade […]
ECB EXPANDS BOND BUYING PROGRAM, DECLINES FURTHER EASING MEASURES
By Laurie Laird LONDON (MaceNews) – The European Central Bank expanded its emergency asset purchase program but declined to activate any further measures in what it calls its “policy toolkit,” despite forecasting a fall in inflation to just above zero. The ECB’s pandemic emergency purchase program, or PEPP, will increase by €600 billion to €1.35 […]