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 […]
FOMC Minutes Reflect Surprising Amount of Discussion Re More Aggressive Tightening – But No Conclusions
WASHINGTON (MaceNews) – The latest minutes of the Federal Open Market Committee released Wednesday afternoon surprised the markets with the amount of discussion about potentially more aggressive than expected tightening moves, despite the lack of any conclusions. Not only did “many participants” judge that the appropriate pace of balance sheet runoff would likely be faster […]
<strong>Draghi’s Chances to Become Italy’s Next President Rise, Party Talks Start – Sources</strong>
By Silvia Marchetti ROME (MaceNews) – Chances are rising that Prime Minister Mario Draghi will be Italy’s next head of state as parties start talks to reach a deal over the appointment, according to ruling coalition sources, even if it will be a “last-minute decision”. On Tuesday, lower house President Roberto Fico is expected to […]
President Biden’s Thumbs Down Moment Fails to Dampen His Optimism
By Eric Ham WASHINGTON (MaceNews) – After months of back and forth negotiations, West Virginia Sen. Joe Manchin has seemingly sealed the fate of President Biden’s signature agenda item, Build Back Better. The Democratic senator announced—on Fox News—that he will not support the nearly $2 trillion spending package. “I cannot vote to continue with this […]
Wht Hse Transcript: Background Briefing on Biden Omicron Address
WASHINGTON (MaceNews) – The following is the White House transcript of Monday night’s background teleconference previewing President Biden’s address Tuesday afternoon (2:30p ET) on the Omicron variant and prospective measures – too late to meet the challenges of holiday gatherings – being taken to mitigate its impact: Background Press Call Previewing the President’s Speech on […]
Japan Govt Upgrades View: Economy Pickup Firmer As Covid Rules Ease
–Upward Revision 1st in 17 Months Since July 2020, when Covid Cases Ebbed–Govt Sees Consumption, Business Sentiment Firmer But Capex Pickup Pausing By Max Sato (MaceNews) – Japan’s government Tuesday upgraded its economic overview for the first time in 17 months in light of a steady improvement in consumer spending after the government eased its […]