Japan Government Keeps Economic Pickup View After December Upgrade
— Consumers Brave Omicron Scare in Year-End, New Year Leisure Season — Production Improving on Easing Supply Constraints By Max Sato (MaceNews) – Japan’s government Tuesday maintained its economic overview after upgrading it last month for the first time in 17 months, saying consumer spending is picking up — despite rising Covid cases — and […]
Japan Nov Machine Orders Post 2nd Straight Rise as Supply Bottlenecks Ease
–Japan Govt Upgrades View: Machine Orders Showing Signs of Pickup By Max Sato (MaceNews) – Japanese machinery orders, the key leading indicator of business investment in equipment, marked the second straight monthly gain in November as parts supply constraints continued easing and new Covid cases ebbed before the Omicron variant triggered a global resurgence, data […]
NY Fed’s Williams: ‘Makes Sense’ To Begin To Remove Accommodation
‘Dramatic’ Job Gains, High Inflation Means ‘Approaching’ Liftoff Doesn’t Expect Steep Rate Hikes; Rejects ‘Extreme Scenarios’ Funds Rate Should Go ‘Somewhere Above 2% Down The Road’ Unclear How Long After Liftoff Balance Sheet Shrinkage Will Start Not As Long As Last Time By Steven K. Beckner (MaceNews) – New York Federal Reserve Bank President John […]
Highlights of Fed’s Brainard Q&A: Emphasizes Fed’s Anti-Inflation Efforts
WASHINGTON (MaceNews) – The following are highlights of Thursday’s testimony of Federal Reserve Gov. Lael Brainard as noted by Mace News’ Steven K. Beckner: Fed Governor Lael Brainard was quite assertive about fighting inflation in testimony before a Senate Banking Committee hearing on her confirmation to succeed Richard Clarida as Fed Vice Chairman. First, she […]
FED BEIGE BK SEES MODEST EXPANSION, HIGHER PRICES, SOME COOLING OF EXPECTATIONS, SOME SUPPLY CHAIN STABILIZATION
WASHINGTON (MaceNews) – The latest Beige Book survey of economic conditions coast-to-coast saw a “modest” pace of expansion as 2021 ended, with some cooling of the generally optimistic expectations for the new year and some scattered improvement in transportation bottlenecks, the Federal Reserve reported Wednesday. The survey, assembled by the Kansas City Fed through January […]
Berlusconi’s Potential Run For Italy’s Presidency Triggers Political Chaos – Sources
By Silvia Marchetti ROME (MaceNews) – The potential candidacy of former Prime Minister Silvio Berlusconi to the top office of Italy’s presidency is raising political chaos at a critical time when parties should seek a compromise on a high level, impartial figure to elect, according to political sources. After having faced 36 trials the scandal-ridden […]
Fed’s Powell Reassures on Balance Sheet Runoff, Rate Hikes, Ultimate Control of Inflation – With Reservations
–Labor Supply Can Become an Issue Going Forward for Inflation–Whether There are Three Rate Hikes This Year Depends on Data By Denny Gulino WASHINGTON (MaceNews) – Without getting too specific, Federal Reserve Chair Jay Powell Tuesday pledged to quickly leave behind the era of emergency measures, fighting inflation while aware its current causes are largely […]
<strong>Powell Vows to Keep ‘Elevated’ Inflation From Getting ‘Entrenched;’ Doesn’t Say How</strong>
By Steven K. Beckner (MaceNews) – Federal Reserve Chair Jerome Powell pledges the Fed will act to prevent already “elevated” inflation from becoming further “entrenched” in congressional testimony prepared for delivery Tuesday morning. However, the Fed chief does not elaborate on how precisely he and his fellow policymakers will proceed to combat wage-price pressures in […]
Italy Pushes Digital Euro, Aims to Strengthen Single Currency in Post-Covid World- Sources
By Silvia Marchetti ROME (MaceNews) – Italy is pushing for a “speedy” creation of a digital euro in a bid to strengthen the single currency, and it has now become a top post-Covid priority for the financial system, according to ruling coalition sources. “The pandemic has accelerated the process: there’s been a significant boost in […]
Eurozone Consumer Prices Rose More Than Expected in December
ZURICH (MaceNews) – Consumer prices in the Eurozone rose more than economists expected in December as energy prices continue to be the main inflation driver, according to the latest preliminary figures from Eurostat. Prices as measured by HICP were 5.0 percent higher in December of 2021 than they were a year ago, rising from a […]