BofA Global Research Fund Manager Survey: Global Investors Trim Cash, Add to Equity Holdings in August as Recession Fears Fade
By Vicki Schmelzer NEW YORK (MaceNews) – Improved growth prospects and fading recession fears prompted global investors to trim their cash allocation and add to equity holdings in August, according to the findings of BofA Global Research’s monthly fund manager survey, released Tuesday. A net 45% of those polled this month looked for weaker economic […]
White House and Other Schedules for Friday, Aug 11
WASHINGTON (MaceNews) – The following are Friday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as U.S. economic data and Federal Reserve events: DAILY GUIDANCE AND PRESS SCHEDULEFOR FRIDAY, AUGUST 11, 2023 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed press. […]
White House and Other Schedules for Thursday, Aug 10
WASHINGTON (MaceNews) – The following are Thursday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as U.S. economic data and Federal Reserve events: DAILY GUIDANCE AND PRESS SCHEDULEFOR THURSDAY, AUGUST 10, 2023 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed press. Later, […]
Japan July Producer Inflation Eases Further to Fresh 2-Year Low of 3.6% from June’s 4.3% on Energy Subsidies, Plunging Lumber Prices
–Producer Prices Post 1st M/M Rise in 3 Months on Rebound in Fuels, Non-Ferrous Metals –July’s 3.6% Y/Y Rise Lowest Since 1.0% in March 2021 –Corporate Goods Price Index’s 10.6% Surge in December 2022 Highest in 42 Years By Max Sato (MaceNews) – Producer inflation in Japan eased for the seventh straight month in July, […]
BOJ July Meeting Summary: Sustained Wage Hikes, Flexible Use of Yield Curve Control Framework Key to Achieving 2% Inflation Target
–Ensuring Small Firms’ Health Also Important in Sustained Growth, Price Stability By Max Sato (MaceNews) – Bank of Japan board members stressed that substantial wage hikes must continue beyond his fiscal year and the bank’s yield curve control framework needs to become more flexible to achieve stable 2% inflation, according to the summary of […]
FOMC Resumes Rate Hikes as Powell Hints at Higher Rates To Come
– Ups Funds Rate 25 Bp to 5.25-5.5%; ‘Extent of Additional Policy Firming’ Referenced – Powell: FOMC Could Hike Again in September or Keep ‘Steady’ Depending on Data – Powell Rules Out 2023 Rate Cuts – FOMC Repeats ‘Inflation Remains Elevated’ – FOMC Repeats Bank Credit Tightening to Weigh on Firms and Households By Steven […]
TRANSCRIPT: Fed’s Powell Post-FOMC Meeting Q&A
WASHINGTON (MaceNews) – The transcript of Federal Reserve Chair Jerome Powell’s post-FOMC meeting press conference Wednesday follows: Since early last year the FOMC has significantly tightened the stance of monetary policy. Today we took another step by raising our policy interest rate a quarter percentage point. And we are continuing to reduce our securities holdings […]
FOMC Raises Fed Funds Rate Another Quarter Point as Expected; Repeats Previous Language
WASHINGTON (MaceNews)- The Federal Open Market Committee had no surprises to offer Wednesday, fulfilling expectations for another quarter point increase in the fed funds rate, to 5.25% to 5.50%, and using well-worn phraseology to remain committed to 2% inflation. The policy statement follows: Recent indicators suggest that economic activity has been expanding at a moderate […]
Japan Govt Keeps View on Moderate Economic Recovery Backed by Consumer Spending, Business Investment Amid Higher Wage Growth
By Max Sato (MaceNews) – Japan’s government Wednesday maintained its overall assessment, saying the economy is recovering moderately as substantial wage hikes and Covid-era excess savings are supporting consumer spending while improving supply chains are shoring up business confidence and investment, according to its monthly report released by the Cabinet Office. Japanese policymakers expect robust […]
FOMC Seems Certain To Resume Rates Hikes July 26; What Comes Next Less Sure
By Steven K. Beckner (MaceNews) – Before Federal Reserve policymakers convened in mid-June, officials openly talked about wanting to “skip” raising interest rates at that Federal Open Market Committee meeting, and by all indications that’s just what the FOMC will have done. After taking a break from raising the federal funds rate at their June […]