<strong>FOMC Minutes Show Consensus on Tightening to Reduce Inflation</strong>
– But Need For ‘Risk Management,’ Avoiding Overtightening Cited – Officials Anxious to Avoid Perception of Less Anti-Inflation Commitment to By Steven K. Beckner (MaceNews) – At their final monetary policy meeting of 2022, Federal Reserve officials were together in their commitment to reducing inflation in the year ahead, but somewhat less united on how […]
FOMC Minutes Reflect Undimmed Dedication to Quenching Inflation Regardless of Slow Growth Consequences
WASHINGTON (MaceNews) – Federal Open Market Committee policymakers agreed on maintaining anti-inflation momentum with a continuing tolerance for any economic slowdown that may result this year without any premature easing. The Fed staff told the committee anticipated this year will see growth “slow markedly” and that GDP growth will be “subdued” through 2025. “No participants […]
US ISM Manufacturing Index Slips Further in December, Indicating Overall Economic Contraction
–ISM’s Fiore: December Decline Not So Steep; in Adjustment Phase –Fiore: Index Still in 48 to 52 Range but May Fall Below Floor –Fiore Repeats His Outlook: ‘Sluggish’ 1st Half 2023; ‘Pretty Strong’ 2nd Half –Fiore: Manufacturing Sector Does Not Rely Much on International Markets, Hit by Soft Domestic Demand By Max Sato (MaceNews) – […]
Minneapolis Fed’s Kashkari: Pause Rate Hikes at 5.4%; Consider Cutting If Inflation Falls
By Steven K. Beckner (MaceNews) – Minneapolis Federal Reserve Bank President Neel Kashkari laid out a roadmap for monetary policy Wednesday that calls for a pause in interest rate hikes, followed by rate cuts, but not until the federal funds rate reaches 5.4%. Kashkari, who will be voting on the Fed’s policy-making Federal Open Market […]
<strong>BOJ December Meeting Summary: Must Keep Easing Stance to Help Wage Hikes, Stable 2% Inflation</strong>
–Concerned About Weakened Bond Market Functions, Board Members Argue for Expanding JGB Yield Trading Range –Members See JGB Range Adjustment as Not Tightening –Members Also Discuss Eventual Exit from Easing in Future with No Specifics By Max Sato (MaceNews) – Bank of Japan board members argued that the bank should maintain its easing stance to […]
TRANSCRIPT: Fed’s Powell Answers Reporters’ Questions after FOMC Decision
WASHINGTON (MaceNews) – The following is the Federal Reserve’s transcript of Fed Chair Jerome Powell’s news conference Wednesday, which followed the Federal Open Market Committee police statement: OPENING STATEMENT IN PROGRESS: substantially more evidence to give confidence that inflation is on a sustained downward path. Price pressures remain evident across a broad range of […]
<strong>Preview: BOJ December Tankan Manufacturers Sentiment Seen Down Further, Services Up on Tourism Promotion</strong>
–Govt’s New Travel Discount Program Supporting Consumer Spending –Businesses Seen Cautious About Climate in March Amid Global Slowdown –Smaller Firms Expected to Continue Revising Up Combined FY22 Capex Plans By Max Sato (MaceNews) – The Bank of Japan’s quarterly Tankan business survey is expected to show confidence among major manufacturers in Japan drifted lower for […]
BofA Global Research Fund Manager Survey: Investors Less Pessimistic About 2023 Prospects
— Inflation Expected to Decline — First Bond Overweight Since April 2009 By Vicki Schmelzer NEW YORK (MaceNews) – Global investors polled at year-end were decidedly less pessimistic about 2023 prospects especially for inflation, according to the findings of BofA Global Research’s monthly fund manager survey, released Tuesday. In December, a net 68% of managers […]
<strong>White House and Other Schedules for Tuesday, Dec 13</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. data and Federal Reserve events: DAILY GUIDANCE AND PRESS SCHEDULE FOR TUESDAY, DECEMBER 13, 2022 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed press. In the […]
US Consumer Inflation Expectations Down in November from October as Gas/Food/Rent Price Expectations Retreat: NY Fed
NEW YORK (MaceNews) – US consumer inflation expectations fell back in November after bumping up in October from September, amid scaled-back expectations for gas/food/rent price rises, according to a survey from the Federal Reserve Bank of New York. The median expectation for inflation one year ahead among survey respondents eased to 5.2% in November from […]