DATA PREVIEW: AFTER A 20M JOBS DROP, WHAT’S NEXT?
By Kevin Kastner WASHINGTON (MaceNews) – The U.S. April data were, in a word, horrible. There was no silver lining, except that it was, hopefully, the worst we will see and that some relative recovery began over last few weeks. The May business conditions data already released continued their downward trend, but the pace of […]
DATA FLASH: APRIL INCOME LIFTED BY STIMULUS, BUT NO PLACE TO SPEND
–US April Personal Income +10.5%, Transfer Payments +89.6% on Stimulus–Savings Rate 33.0%, Nominal PCE -13.6%, Real PCE -13.2%, Core Prices -0.4%–May Chicago PMI Falls to 32.3 from 35.4 in April–May Michigan Sentiment Index Revised Down to 72.3 After 71.8 in April By Kevin Kastner WASHINGTON (MaceNews) – Personal income surged in April on the large […]
DATA FLASH: US INITIAL CLAIMS SLOW FURTHER; DURABLE GOODS ORDERS PLUNGE
–Initial Claims – 323,000 to 2.123 Mln; 37.2 Mln Total Under COVID–Durable Goods New Orders -17.2%; Shipments -17.7%–Q1 GDP Revised Down To -5.0% Vs -4.8%, PCE -6.8% By Kevin Kastner WASHINGTON (MaceNews) – The U.S. data released earlier Thursday offered few surprises, with the level of initial claims continuing to slide, durable goods orders down […]
FED’S BEIGE BK: SEVERE DISRUPTIONS CONTINUE; NO QUICK RECOVERY SEEN
–Some Recent Improvement in Autos –Not Seeing Full Hirebacks WASHINGTON (MaceNews) – The Federal Reserve’s latest Beige Book survey of economic activity across the country Wednesday chronicled the continuing – and in some regions, deepening – severe disruption caused by the pandemic with some Districts finding low expectations for a quick rebound and complete rehirings. […]
WEDNESDAY WHITE HOUSE SCHEDULE
WASHINGTON (MaceNews) -The following is the White House public schedule for Wednesday: DAILY GUIDANCE AND PRESS SCHEDULE FORWEDNESDAY, MAY 27, 2020 EDT 10:00AM In-House Pool Call Time 11:20AM Out-of-Town Pool Call Time 11:00AM THE PRESIDENT participates in a meeting with the Governor of New York Oval Office Closed Press 12:20PM THE PRESIDENT […]
DATA FLASH: US MAY CONFIDENCE STOPS SLIDE; NEW HOMES UP
–Dallas Manufacturing Reading in Line with Other Regional Data By Kevin Kastner WASHINGTON (MaceNews) – The Conference Board’s U.S. consumer confidence index rose slightly to a reading of 86.6 in May from a downward revised 85.7 reading in April, stopping the slide at two months but leaving the index well below the recent peak in […]
BOE’S HALDANE SOUNDS CAUTIOUS NOTE ON NEGATIVE UK RATES
— Sees “Modest” Recovery in Recent Consumer Spending LONDON (MaceNews) – The Bank of England’s chief economist sounded a decidedly cautious note on the possibility of negative interest rates in the UK, just a week after BoE Governor Andrew Bailey confirmed that sub-zero rates are actively under review. “Reviewing and doing are different things,” said […]
DATA PREVIEW: US REGIONAL DATA, CONFIDENCE KEY RELEASES
By Kevin Kastner WASHINGTON (MaceNews) – The May 25 week starts off with the Memorial Day holiday, but it quickly speeds up from there. Regional conditions data for May are the highlight of the week, with reports from the Philadelphia, Dallas, Richmond and Kansas City Federal Reserve banks and the Chicago PMI on tap ahead […]
US ENERGY SECRETARY: MAY LEASE ADDITIONAL CRUDE OIL STORAGE IN SPR
By Brai Odion-Esene, SW4 Insights, for Mace News WASHINGTON (MaceNews) – The Trump administration is pleased with initial results of its actions to secure crude oil for the national stockpile while easing storage pressures on the struggling oil companies, and might conduct similar operations in the near future, Energy Secretary Dan Brouillette said Thursday. Speaking […]
FED’S CLARIDA: HAVEN’T CHANGED MIND VS NEGATIVE RATES
NEW YORK (MaceNews) – Federal Reserve Vice Chair Richard Clarida Thursday said he has not changed his mind, that there’s no upside to purposely move to negative rates. Speaking in a webinar sponsored by the New York Association for Business Economics, Clarida also underlined the points made Wednesday and previously by Fed Chair Jay Powell, […]