White House and Other Schedules for Thursday, Aug 11
WASHINGTON (MaceNews) – The following are Thursday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as US data and Federal Reserve events: DAILY GUIDANCE AND PRESS SCHEDULE FOR THURSDAY, AUGUST 11, 2022 The President, vacationing at Kiawah Island, South Carolina, has no public events scheduled. Out-of-Town Pool Wires: AP, Reuters, […]
US CPI Boosts Hopes Inflation Trajectory Has Improved
–July CPI Unchanged; Core +0.3% By Denny Gulino WASHINGTON (MaceNews) – The welcome way the latest Consumer Price Index came in below expectations Wednesday reinforced hopes the trajectory of high consumer inflation has finally improved. The July report’s headline number, the one that most influences inflation expectations, was unchanged, the lowest reading for any month […]
Japan July Producer Inflation at Slowest Pace in 7 Months on Easing Lumber, Non-Ferrous Markets
By Max Sato (MaceNews) – Producer inflation in Japan continued to ease in July to the slowest pace in seven months, after hitting a 41-year high in April, as year-on-year gains in costs for lumber and wood, chemicals and non-ferrous metals decelerated, while prices of gasoline and other fuels lost steam again after a slight […]
July Jobs Report Takes the ‘Stag’ Out of ‘Stagflation;’ Adds 528K Payroll Slots
By Denny Gulino WASHINGTON (MaceNews) – Confounding the forecasters, the July jobs market exploded with new hiring, adding 528,000 payrolls slots, lowering the unemployment rate to 3.5% and pitting market pessimists against their opposites who see inflation having peaked. U.S. stocks futures sagged, benchmark interest rates shot up a few basis points and the White […]
Analysis: Fed Officials Shift Messaging as Markets Swing
By Steven K. Beckner (MaceNews) – After the Federal Reserve’s policymaking Federal Open Market Committee raised short-term interest rates for a fourth straight meeting on July 27, Chairman Jerome Powell said that, henceforth, he and the FOMC intended to forego further “forward guidance” on the probable pace of rate hikes. Instead, he said, they would go “meeting by meeting” and assess the incoming data before deciding what the […]
Bank of England Lifts Rates by 50 Basis Points Despite Looming Recession
–Governor Andrew Bailey Vows to Tame Inflation Despite Economic Cost By Laurie Laird LONDON (MaceNews) – The Bank of England lifted its benchmark rate by 50 basis points on Thursday – the biggest rise in 27 years – despite warning of recession later this year. That takes the Bank Rate to 1.75%, the highest since […]
Fed’s Barkin Asserts Fed Commitment To Lowering Inflation Even It Means Recession
Fed Will ‘Do What It Takes’ By Steven K. Beckner (MaceNews) – Richmond Federal Reserve Bank President Thomas Barkin said Wednesday the Fed is determined to beat down inflation – even it means recession. Barkin gave no indications of how much more monetary tightening he thinks will be needed to bring inflation down to the […]
UPDATE-ISM: US July Service Sector Growth Picks Up on New Orders Despite Labor Shortages, High Costs
–Price Index Falls for Third Month; ‘Inflation is Peaking’–ISM’s Nieves: Fed Not Overtightening, Market Reaction Favorable to Latest Hike–ISM’s Nieves: Services Sector Expects Continued Growth in 2022 on Pent-Up Demand–ISM: Supply Chain Constraints Keeping Firms from Replenishing Inventories–ISM: Employment Remains in Contraction Mainly Due to Limited Labor Pool By Max Sato (MaceNews) – U.S. service […]
UPDATE – US July ISM Manufacturing Growth Slows on Softer New Orders; ISM Sees No Recession
–ISM: Labor Shortages, Supply Constraints Continue Weighing on Sector –ISM’s Fiore: No Change to View US Recession Not Looming in Manufacturing –ISM’s Fiore: Plunge in Prices Index Due to Weaker China Demand, Lower Energy Costs By Max Sato (MaceNews) – U.S. manufacturing activity growth slowed marginally in July from June, remaining at the lowest rate […]
White House and Other Schedules for Friday, July 29
WASHINGTON (MaceNews) – The following are Friday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as US data and Federal Reserve events: DAILY GUIDANCE AND PRESS SCHEDULE FORFRIDAY, JULY 29, 2022 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed press. In-Town Pool Wires: […]