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. […]
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 […]
Italy-France Pushing for ‘Single EU Debt’ to Fund Post-Pandemic Growth; Germany’s Stance on Closer Fiscal Integration in Post-Merkel Era Uncertain – Sources
By Silvia Marchetti ROME (MaceNews) – Italy and France are pushing for issuance of a ‘common European public debt’ to fund long-term pro-growth investments with the additional goal of strengthening the single currency and boosting European integration, Italian official sources say. Sources say Europe faces a turning point with the departure of former Chancellor Angela Merkel, […]
Facing Debt Buildup, Italy Pressing for More Lenient EU Fiscal Rules Post-Covid – Sources
By Silvia Marchetti ROME (MaceNews) – Italy is pressing its European Union partners to define new, more relaxed fiscal rules for the post-Covid era and warns of financial instability ahead unless the EU acts quickly, according to ruling Italian coalition sources. The debate at EU level on the need to reform the Stability and Growth […]
US Data Preview Commentary: Retail Sales, Housing Starts, and More Angst About Threats of Partisan Violence
By Denny Gulino WASHINGTON (MaceNews) – A week of ordinary and not too consequential economic data, like October retail sales and housing starts, a US-China summit chat, the signing of BIF (Amtrak fans rejoice) and more socioeconomic angst reflected in a flurry of essays about America’s threatened civil war. No one needs to be told […]
US House-Passed Infrastructure Bill Gets Presidential Signature in Coming Days
By Eric Ham WASHINGTON (MaceNews) – After months of wrangling and tense back-and-forth negotiations, the House of Representatives finally passed the $1.2 trillion infrastructure spending bill shortly before midnight Friday. Saturday morning President Biden hailed it as an inflection point toward winning “the competition of the 21st century., The legislation passed 228-206 with 13 Republicans […]
Italy to Clear EUR20-25 Billion Budget Plan with Tax Cuts and Pension Fixes – Sources
By Silvia Marchetti ROME (MaceNews) – Italy’s government will approve by end of this week the 2022 budget plan worth up to EUR 25 billion with tax cuts, pro-growth measures and a fix to the current pension system, according to sources. “We’re holding a preliminary meeting today to define the general framework but we still […]
MaceNewsViews: Commentary – Senate Republican Leader McConnell Flexes (Political) Muscle Despite Minority Status
By Eric Ham WASHINGTON (MaceNews) – As the clock wound down on the debt ceiling and Democrats were unable or unwilling to break the logjam on their own, Republican Minority Leader, Mitch McConnell, stepped in and saved the nation from going over the financial cliff. The Kentucky senator reminded the country of the clout he […]
Italy’s Government Tensions Likely to Spike Over Upcoming Thorny Competition Law – Sources
By Silvia Marchetti ROME (MaceNews) – Rome’s government is expected to clear by the end of October a key thorny competition law aimed at supporting investments, a law which is likely to further raise tensions among ruling allies, according to coalition sources. The decree, which was meant to be initially approved ahead of the summer, […]
MaceNewsViews – Commentary: Nihilism’s Dream – The US Defaults
By Denny Gulino WASHINGTON (MaceNews) – Those knowing think pieces and Op-Eds by veteran graybeards, scoffing at the super-hyped headlines about the dangers of a pending debt-limit impasse, should be reassuring. They’ve seen it all before, the six dozen or more times Congress allows the nation’s Treasury to start borrowing again, often at the last […]