Powell: Fed Ready to Raise Rates Further To Reduce Inflation To 2%
– Funds Rate Now ‘Restrictive’ But Unsure If It’s ‘Sufficiently Restrictive’ – FOMC Can Afford to Proceed ‘Carefully’ – Will Watch for Evidence of Progress on Inflation, Labor Market Tightness By Steven K. Beckner (MaceNews) – Federal Reserve Chair Jerome Powell expressed a mild, but clear bias toward additional monetary tightening in an anxiously awaited […]
Japan August Tokyo Core CPI Annual Rate Slips to 11-Month Low of 2.8% from 3.0% in July as Utility Costs Slump, Processed Food Prices Show Signs of Easing
–Processed Food Prices Continue to Lead Consumer Inflation, Pushing Up CPI Annual Rate by Nearly 2 Percentage Points –Total CPI Annual Rate Also Moderates to 11-Month Low of 2.9% from 3.2% in July after Hitting 41-Year High of 4.4% in January –Narrow CPI (Ex-Fresh Food, Energy) Annual Rate Remains at 41-Year High of 4.0% By […]
White House and Other Schedules for Friday, Aug 18
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 SCHEDULE FOR FRIDAY, AUGUST 18, 2023 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed press. Later, […]
FOMC Minutes Reflect Uncertainty, Data Dependency as Economy Refuses to Adhere to Slow-Growth Scenario
WASHINGTON (MaceNews) – The minutes of July’s Federal Open Market Committee Meeting Wednesday underlined the central bank policymakers’ continued uncertainty and dependence on data yet to come as the economy resisted the Fed staff’s outlook for below-trend growth. The Fed Board members and regional bank presidents generally acknowledged inflation – particularly minus food, energy and […]
Fed’s Kashkari: Not Ready To Say Fed Has Hiked Rates Enough To Curb Inflation
– But Says ‘Positive Signs’ Let FOMC ‘Take A Little More Time’ – Says FOMC ‘Long Way From Cutting Rates’ – Allows For Nominal Cuts at Some Point To Prevent Inadvertent Tightening of Real Rates – Warns Of Possible Bank Stress If Fed Has to Keep Raising Rates By Steven K. Beckner (MaceNews) – Minneapolis […]
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 […]