<strong>Japan February Core CPI Annual Rate Slows to 3.1% from January’s 41-Year High of 4.2% as Government Expands Subsidies for Utilities </strong>
–Total CPI Slows to +3.3% Y/Y from 41-Year High of +4.3% in January, Also as Expected –Core-Core CPI (Ex-Fresh Food, Energy) Hits 41-Year High of +3.5% Y/Y, Largest Gain Since +3.5% in January 1982 By Max Sato (MaceNews) – Consumer inflation in Japan slowed significantly to just above 3% in February in two key measures […]
<strong>FOMC Lifts Funds Rate 25 BP; ‘Additional Policy Firming May Be Appropriate’</strong>
– FOMC Participants Leave Median Projected Rate for End of 2023 at 5.1% – Powell Sees Bank Credit Tightening ‘Substituting’ For Some Fed Rate Hikes – Powell: 2023 Rate Cuts ‘Not in Our Baseline’; Will Tighten More If Needed: By Steven K. Beckner (MaceNews) – Pulling its monetary punches in the wake of unanticipated financial […]
<strong>FOMC Apt to Raise Rates Again but Bank Failures Raise Doubt</strong>
– Once Predisposed Toward More Aggressive Moves, Fed Must Now Weigh Financial Risks By Steven K. Beckner (MaceNews) – The Federal Reserve finds itself in an awkward situation as it approaches its mid-March monetary policy meeting. Less than a week ago, it seemed, the Federal Reserve’s policy making Federal Open Market Committee was on the […]
<strong>White House and Other Schedules for Wednesday, March 15</strong>
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: DAILY GUIDANCE AND PRESS SCHEDULE FOR WEDNESDAY, MARCH 15, 2023 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed […]
<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 […]