US April ISM Manufacturing in Contraction for 6th Straight Month as New Orders Remain Sluggish Amid Uncertainty
–ISM’s Fiore: Main Index in 47 to 51 Range, Don’t See Any Change in Near Term –Fiore: Output Side Positive, Input Side Weak; Future Is Uncertain –Fiore: Firms Managing Output to Prepare for Pickup in Late Summer, Early Fall –Fiore: Customers Inventories at Low End of ‘Too High’ By Max Sato (MaceNews) – U.S. manufacturing […]
BOJ Under Governor Ueda Keeps Easing Stance to Pursue Stable 2% Inflation but Also Decides to Review Prolonged Easing
–No Longer Expects Short-, Long-Term Rates to Go Lower Than Now –Ueda Has Told Diet, Reporters: ‘Appropriate’ to Continue Current Policy Framework; Underlying Inflation Has Not Reached 2% By Max Sato (MaceNews) – The Bank of Japan said Friday its policy board decided unanimously to maintain its monetary easing stance, keeping its zero to slightly […]
White House and Other Schedules for Friday, April 28
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, APRIL 28, 2023 In the morning, the President will receive the President’s Daily Brief. The Vice President will attend. This […]
Japan’s Government Continues to See Gradual Economic Pickup, Upgrades View on China for 2nd Straight Month
By Max Sato (MaceNews) – Japan’s government Tuesday maintained its overall economic assessment that the gradual pickup will continue as widely eased Covid public health rules are seen propping up domestic consumer spending amid slowing global demand, according to its monthly report released by the Cabinet Office. The Japanese economy is showing resilience, thanks to […]
Japan March Core CPI Capped at +3.1% Y/Y by Energy Subsidies After February’s 3.1%, January’s 41-Year High of 4.2%
–Total CPI +3.2% Y/Y Vs. +3.3% in February, 41-Year High of +4.3% in January –Core-Core CPI (Ex-Fresh Food, Energy) Hits 42-Year High of +3.8% Y/Y, Largest Gain Since +3.9% in December 1981–Fiscal 2022 Core CPI +3.0% Vs. +0.1% in Fiscal 2021, as Projected by BOJ Board By Max Sato (MaceNews) – Consumer inflation in Japan […]
Fed’s Beige Bk Sees Tighter Credit, Little Change Otherwise
–Nine Districts Saw No Change or Slight Changges; Three Indicated ‘Modest Growth’ WASHINGTON (MaceNews) – The “Beige Book” survey of economic activity coast-to-coast Wednesday described a generally static picture with only three Districts suggesting modest growth while credit availability deteriorated, sometimes “sharply.” The survey, assembled by the Richmond Fed, saw consumer spending generally “flat to […]
Fed’s Waller: More Rate Hikes Needed but Bank Credit Tightening Will Help Curb Inflation
By Steven K. Beckner (MaceNews) – Federal Reserve Governor Christopher Waller said Friday that the Fed still needs to raise short-term interest rates further and leave them high for longer than many anticipate, but said tightening bank credit will likely lessen how much monetary policy will need to be tightened. Although headline inflation numbers have […]
FOMC Minutes Show Participants Chose Cautious Quarter-Point Hike Because of Then Fresh Banking Turmoil
WASHINGTON (MaceNews) – The latest Federal Open Market Committee meeting minutes, for the March 21-22 policy session, suggested that the absence of more banking turmoil at the next meeting could increase the odds of a half-point rate hike. The minutes released Wednesday “participants agreed that inflation was unacceptably high” but some of them, who favored […]
Bank of Canada Pauses for 2nd Time in a Row to Watch Effects of Past Tightening, Prepared to Hike Again If Needed
–BOC Governor Macklem: Governing Council Discussed Likelihood of Policy Rate Staying Restrictive for Longer –Macklem: Rate Cut Later This Year Expected in Markets ‘Doesn’t Look Like Most Likely Scenario’ –BOC: Canada’s Labor Market Remains Tight, Demand Still Exceeding Supply –BOC: Economy to Move into Excess Supply in 2nd Half of 2023 –BOC: CPI Inflation to […]
White House and Other Schedules for Wednesday, April 12
WASHINGTON (MaceNews) – The following are Wednesday’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: COMPREHENSIVE TRIP GUIDANCE AND PRESS SCHEDULE FORWEDNESDAY, APRIL 12, 2023 – SATURDAY, APRIL 15, 2023 Wednesday, April 12, 2023 In the morning, the President will meet with […]