TRANSCRIPT: Federal Reserve Chair Powell’s Q&A Session Following FOMC Meeting
WASHINGTON (MaceNews) – The following is the transcript of Federal Reserve Chair Jerome Powell’s Wednesday news conference following the latest Federal Open Market Committee meeting: JEROME POWELL: Price stability is the responsibility of the federal reserve and serves as the bed rock of our economy. PRESS MEMBER: Thank you. Colby Smith with the Financial Times […]
FOMC Hikes 75 BPS As Expected; Adds Language to Anticipate Stance ‘Sufficiently’ Restrictive
WASHINGTON (MaceNews) – The Federal Open Market Committee Wednesday hiked the federal funds rates another 75 basis points as widely expected, adding language in the policy statement that highlights the need to reach a stance that is sufficiently restrictive allowing for lags in policy effects. The decision prompted an immediate improvement in U.S. stocks and […]
Bank of Canada’s Macklem: Getting Closer to End of Tightening Phase but Not There Yet
–Governor Repeats: Concerned About Upside Risks to Inflation Outlook–Macklem: Short-Term Pain of Rate Hikes for Long-Term Gain in Price Stability By Max Sato (MaceNews) – Bank of Canada Governor Tiff Macklem on Tuesday indicated that the bank’s aggressive tightening mode is coming closer to an end but also stressed its job to restore price stability […]
Analysis: FOMC Set for Fourth 75 BP Rate Hike But What Comes Next?
– Even After Another Big Hike Real Funds Rate Will Be Negative – Mixed Signals About How High Fed Willing to Go to Fight inflation By Steven K. Beckner (MaceNews) – The Federal Reserve will almost certainly take another fairly aggressive monetary tightening step at its Federal Open Market Committee meeting next week, but its interest rate hike […]
Japan October Tokyo Core CPI Surges to 40-Year High of 3.4% as Widespread Markups Continue 
–Total CPI +3.5%, Narrow CPI (Ex-Fresh Food, Energy) +2.2% for 3-Deacde Highs By Max Sato (MaceNews) – Consumer prices in Tokyo, the leading indicator of the national average, surged in all three key measures, with the core CPI annual rate hitting a 40-year high of 3.4%, as processed food and natural gas suppliers continued passing […]
Bank of Canada Hikes Key Rate by 50 Bps to 3.75%, Balancing Between Too High Inflation and Slower Demand 
–BOC Governing Council Still Believes Interest Rates Need to Rise Further –BOC: Canadian Economy in Excess Demand, Labor Markets Tight –Governor Macklem: Getting Closer to End of Tightening but Not Over Yet–Macklem: Future Tightening Could Mean Large or Normal Rate Hike By Max Sato (MaceNews) – The Bank of Canada on Wednesday raised its policy […]
Japan September Core CPI Hits 3% on Widespread Markups but BOJ Easing Seen in Place
–High Energy Costs Remain Largest Contributor, Processed Food Catching Up –Core CPI (Ex-Fresh Food) +3.0% Y/Y 31-Year High Excluding 2014, 1997 Sales Tax Hikes Impact–Narrow CPI (Ex-Fresh Food, Energy) +1.8% Y/Y, Close to BOJ’s 2% Inflation Target By Max Sato (MaceNews) – Consumer inflation in Japan continued its relentless upward march in September, reflecting high […]
Fed’s Beige Book Survey Finds Mixed Signals As Economy Keeps Expanding ‘Modestly’
WASHINGTON (MaceNews) – The Federal Reserve’s Beige Book survey of economic conditions coast to coast Wednesday picked up a continuing modest expansion with ripples of softening prices and wage growth amid some signs of weakening demand. The wavering of some important indicators suggested a transition under way as rising interest rates recalibrate consumption and moderate […]
White House and Other Schedules for Thursday, Oct 13
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. data and Federal Reserve events: DAILY GUIDANCE AND PRESS SCHEDULE FOR THURSDAY, OCTOBER 13, 2022 In the morning, the President will deliver remarks on how Bipartisan Infrastructure Law investments are helping to improve […]
FOMC Minutes Don’t Surprise; Riskier to Do Too Little
WASHINGTON (MaceNews) – The minutes of the latest Federal Open Market Committee meeting Wednesday largely mirrored the comments of Fed Chair Jerome Powell at the time, prompting benchmark Treasury security yields to ease as participants agreed it is riskier to tighten too little than too much. The minutes held no solace for anyone hoping for […]