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 […]
The Manchinator Chews Through Dem’s ’22 Hopes; Republicans Rejoice
By Denny Gulino WASHINGTON (MaceNews) – The shock wave from what many Democrats see as Sunday’s betrayal by their own Sen. Joe Manchin, killing the Build Back Better bill supporting Democratic hopes for next year’s mid-term elections, triggered anger and despondency on one side of the aisle and rejoicing and hallelujahs on the other side. […]
Fed’s Waller Urges March Funds Rate Liftoff, Followed by Balance Sheet Shrinking
By Steven K. Beckner (MaceNews) – Federal Reserve Governor Christopher Waller Friday said the Fed should start raising short-term interest rates “shortly” after it finishes buying bonds in March – perhaps immediately thereafter. What’s more, Waller advocated starting to shrink the Fed’s bloated balance sheet soon after it starts raising the federal funds rate, which […]
BOJ Keeps Easing Stance, Tweaks Covid Funding Scheme Toward Small Firms
By Max Sato (MaceNews) – The Bank of Japan said Friday it is ending parts of its anti-Covid special financing program aimed at supporting large firms, whose financial conditions have improved, while extending its feature of helping hard-hit small businesses, particularly those in the service sector. As expected, the BOJ decided to maintain its interest […]
Analysis: Fed Ponders What Puts Out This Peculiar Inflation Fire
–Overheating or Super Squeezing? By Denny Gulino WASHINGTON (MaceNews) – Federal Reserve Chair Jay Powell Wednesday reassured his press conference viewers the central bank has the tools it needs to make sure aggressive inflation doesn’t last too long, reinforcing the narrative this inflation episode will meet its match. But what if the seeds of deflation […]
FOMC Doubles Taper to End Bond Buying in March as Inflation Forces Hawkish Tilt
—Three 2022 Rate Hikes Now Projected By FOMC Participants –Powell Hints At Quick Start To Funds Rate Liftoff After Taper Ends By Steven K. Beckner (MaceNews) – Federal Reserve policymakers moved dramatically, though not unexpectedly, Wednesday to adopt a more aggressive stance against inflation. The FOMC said it anticipates “similar reductions” in subsequent months, although […]