<strong>White House and Other Schedules for Tuesday, March 14</strong>
WASHINGTON (MaceNews) – The following are Tuesday’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 TUESDAY, MARCH 14, 2023 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed […]
<strong>BOJ Keeps Easing Stance to Pursue Stable 2% Inflation Target After Nearly a Decade of Flooding Markets with Cash</strong>
–March Meeting Last Scheduled One for Governor Kuroda Before His 2nd 5-Year Term Ends on April 8 –Kuroda’s 2 Deputies Will Also Retire at End of Their 5-Year Terms on March 19 –Incoming Governor, Ex-BOJ Board Member Kazuo Ueda Has Told Diet Current Easing Stance ‘Appropriate’ By Max Sato (MaceNews) – The Bank of Japan […]
<strong>Japan February Producer Inflation Eases Further to 8.2% from 9.5% on Faster Drops in Fuels, Lumber Prices Amid Slower Global Growth </strong>
–December’s 10.5% Y/Y Rise Remains Highest in 42 Years By Max Sato (MaceNews) – Producer inflation in Japan continued to ease in February as the government is trying to cap sharp increases in energy costs for both households and businesses while fuel and lumber prices fell at a faster pace amid slowing global demand, data […]
Fed’s Beige Book Survey Sees Positives and Negatives Amid ‘Slightly’ Increased Economic Activity
WASHINGTON (MaceNews) – The Federal Reserve’s Beige Book survey of economic activity coast to coast will tell the next Federal Open Market Committee meeting later this month that economic activity “increased slightly” despite widespread but somewhat moderated inflation pressures. The Beige Book responses, assembled by the New York Fed bank Wednesday, suggested consumer spending was […]
<strong>Preview: Japan Q4 GDP Slight Rebound Seen Unrevised, Led by Consumption, Net Export Rise</strong>
–Sharp Drop in Private Inventories, Capex Pullback Behind Lackluster Q4 Growth –Consumption Solid on Eased Covid Rules, Travel Subsidies After Flat Growth in Q3 –Q4 Net Exports Rebound After Q3 Slump Caused by Surge in Service Payments –Q1 GDP Seen Supported by Consumption Amid Weaker Exports By Max Sato (MaceNews) – The slight rebound […]
<strong>Powell: Fed Prepared to Increase Pace of Rate Hikes If Inflation Doesn’t Moderate</strong>
– ‘Ultimate Level of Interest Rates Likely to be Higher Than Previously Anticipated’ – Fed Not Seeking ‘Enormous’ Unemployment Rise but Tight Labor Markets Must Soften By Steven K. Beckner (MaceNews) – Federal Reserve Chair Jerome Powell served notice Tuesday that the Fed will likely need to raise short-term interest rates higher than he and […]
<strong>ISM: US February Service Sector Activity Stays in Growth Territory on Rising New Orders, Job Growth, Faster Deliveries</strong>
–ISM’s Nieves: Still Need to See How Things Evolve in April-June Quarter After Strong Start to 2023–Nieves: Possible Negative Impact of Further Fed Tightening Not Reflected in ISM Data By Max Sato (MaceNews) – Business activity in the U.S. service sector stayed in positive territory in February after showing an earlier-than-usual seasonal rebound in January […]
Japan February Tokyo Core CPI Y/Y Rise Slows to 3.3% from 4.3% on Subsidies Aimed at Capping Utility Charges
–Total CPI Annual Rate Also Slows to 3.4%% after Hitting Over 41-Year High of 4.4% in January–Narrow CPI (Ex-Fresh Food, Energy) Annual Rate Rises to 3.2%, More Than 31-Year High By Max Sato (MaceNews) – Consumer prices in Tokyo, the leading indicator of the national average, posted year-on-year gains of above 3% in February in […]
<strong>Japan January Core CPI Up 4.2% Y/Y, Fresh 41-Year High, Markups in Food, Utilities, Smaller Hotel Fee Drop</strong>
–Core CPI (Ex-Fresh Food) Y/Y Rise Highest Since +4.2% in September 1981 –Core-Core CPI (Ex-Fresh Food, Energy) +3.2% Y/Y, Highest Since +3.2% in April 1982 –Total CPI +4.3% Y/Y, 41-Year High; Largest Since +4.3% in December 1981 By Max Sato (MaceNews) – Consumer inflation in Japan picked up its pace further in January, with the […]
FOMC Minutes Show a Few Participants Wanted a 50 BPS Hike
WASHINGTON (MaceNews) – The Federal Open Market Committee meeting that ended at the beginning of the month had wide – but not unanimous – agreement on a quarter-point rate hike with a “few” more impatient, wanting to get to the terminal rate sooner with a half-point increase, the minutes of the meeting showed Wednesday. That […]