TRANSCRIPT: Fed’s Powell Says Quarter-Point Cut ‘Risk Management’ Rather Than Reaction to Actual Jobs Deterioriation
WASHINGTON (MaceNews) – The following is a transcript of Federal Reserve Chair Jerome Powell’s post-FOMC news conference Wednesday: Recent indicators suggest that growth of economic activity has moderated. GEP rose at a pace of around one and a half percent in the first half of the year, down from 2.5 percent last year. The moderation […]
FOMC POLICY STATEMENT – As expected, with quarter-point rate cut followed by dot-plot expectations for two more this year
WASHINGTON (MaceNews) – The Federal Open Market Committee’s Wednesday policy statement: Recent indicators suggest that growth of economic activity moderated in the first half of the year. Job gains have slowed, and the unemployment rate has edged up but remains low. Inflation has moved up and remains somewhat elevated. The Committee seeks to achieve maximum […]
Japan Weekahead: Ruling, Opposition Parties Gear Up for October Snap Elections Widely Expected after Conservative LDP Picks Leader
–Bank of Japan to Stand Pat amid Political Storm Following PM Ishiba’s Resignation, Board Monitors Trump Tariff Impact on Q3 Data–August Data to Highlight Tariff Impact: Japan Carmakers’ Discount Strategy Keeps Their US Market Share but Depresses Export Values–Core CPI to Ease Below 3% on Summer Fuel Subsidies, Yen’s Relative Strength Vs. Slump in Early […]
Japan’s Prime Minister Ishiba to Step Down, Citing Risk of Party Split
TOKYO (MaceNews) – Japanese Prime Minister Shigeru Ishiba resigned on Sunday, citing the conclusion of negotiations over U.S. tariff measures and calling it a “painful decision” aimed at preventing deep divisions within the ruling Liberal Democratic Party (LDP), according to national broadcaster NHK. Ishiba told reporters he must take responsibility for a string of election […]
US TARIFFS STATE OF PLAY – Punishing 50% Tariff on India Products Takes Effect; Online Shoppers to be Hit With Tariffs Friday
WASHINGTON (MaceNews) – There was no last-minute reprieve for India, as of midnight ET hit with one of the highest tariff rates in the world. The implementation of a 50% rate shuts off most trade with the U.S. and there have been many accounts of sectors of the Indian economy already feeling the severe effect. […]
Japan Still Sees Gradual Economic Recovery but Warns Some Uncertainty over Trade Deals lingers, Downgrading Its View on Exporter Profits
By Max Sato (MaceNews) – Japan’s government continues to believe that the domestic economy is expected stay on a “modest recovery” track after top negotiators from Tokyo and Washington have worked out some details of their bilateral trade deal reached last month but also warned that uncertainty over global growth is here to stay for […]
Fed Officials Still Divided, Unsure About When and How Much To Cut Interest Rates
By Steven K. Beckner (MaceNews) – Federal Reserve officials have continued this week to muse about cutting interest rates for the first time since December when the Fed’s rate-setting Federal Open Market Committee meets in mid- September, but the FOMC remains divided and unsure. Despite an uptick in inflation, labor market worries have come to […]
US TARIFFS STATE OF PLAY: New Reciprocal Tariffs Don’t Dispel Uncertainty, Confusion
–Trump Fires Head of the Bureau of Labor Statistics because of alleged manipulation By Denny Gulino WASHINGTON (MaceNews) – With new reciprocal levies raising America’s average tariff rate to above 18% and the latest jobs and ISM reports raising stagflation fears, the overall era of uncertainty seems to have intensified, not diminished. The environment of […]
US TARIFFS STATE OF PLAY – List of countries and their “reciprocal” tariff rates imposed at midnight (Switzerland 39%; UK 10%)
WASHINGTON (MaceNews) – Countries and Territories Reciprocal Tariff, Adjusted Afghanistan 15%Algeria 30%Angola 15%Bangladesh 20%Bolivia 15%Bosnia and Herzegovina 30%Botswana 15%Brazil 10%Brunei 25%Cambodia 19%Cameroon 15%Chad 15%Costa Rica 15%Côte d`Ivoire 15%Democratic Republic of the Congo 15%Ecuador 15%Equatorial Guinea 15%European Union: Goods with Column 1 Duty Rate1 > 15% 0%European Union: Goods with Column 1 Duty Rate < 15% […]
TRANSCRIPT: Fed’s Powell Stays Away From Promises of a September Rate Cut
.WASHINGTON (MaceNews) – The following is a rough transcript of Wednesday afternoon’s post-FOMC meeting news conference with Federal Reserve Chair Jerome Powell: Despite elevated uncertainty, the economy is in a solid position. The unemployment rate remains low and the labor market is at or near maximum employment. Inflation has been running somewhat above our 2% […]