FED’S BEIGE BK: ‘CONCERNS OVER AN INCREASED RISK OF RECESSION’
WASHINGTON (MaceNews) – The normally bland Beige Book survey of economic activity coast-to-coast included some dark clouds of pessimism in its latest iteration Wednesday, seeing increased risks of recession and “growing signs of a slowdown in demand.” The survey, for review at the next Federal Open Market Committee meeting toward the end of the month, […]
Bank of Canada Jacks Up Rate by 100 Bps to 2.5% as Bank ‘Front-loads’ Rate Hikes
–BOC: Interest Rates Need to Rise Further, Pace Up to Economic Assessment –BOC: Canadian Economy in Excess Demand, Inflation High and Broad –BOC Revises Up CPI Forecasts for Next Few Years, Sees Slower GDP Growth By Max Sato (MaceNews) – The Bank of Canada on Wednesday surprised the markets by jacking up its policy interest […]
White House and Other Schedules for Wednesday, July 13
WASHINGTON (MaceNews) – The following are Wednesday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as US data and Federal Reserve events: COMPREHENSIVE TRIP GUIDANCE AND PRESS SCHEDULE FOR ISRAEL AND THE WEST BANK Wednesday, July 13, 2022 In the afternoon, the President will arrive in Tel Aviv, Israel […]
Japan June Producer Inflation Eases Slightly on Slower Lumber, Steel Gains; Fuels Pick Up Again
By Max Sato (MaceNews) – Producer inflation in Japan eased slightly in June after hitting a 41-year high in April as year-on-year gains in the costs for lumber and wood products as well as iron and steel slowed, while the prices of gasoline and other fuels picked up the pace of increase again, data released […]
BOI’s Visco: Second Rate Hike in September ‘Appropriate’ if Long-Term Inflation Forecasts Do Not Improve
ROME (MaceNews) – Bank of Italy Governor Ignazio Visco said on Friday that a second rate hike in September by the European Central Bank could be “appropriate” if long-term inflation forecasts do not improve. Talking at Italy’s annual banking lobby ABI conference, Visco argued, however, that monetary policy normalization, particularly including any additional rate hikes […]
Japan May Household Spending Dips as Supply Crunch Dents Car Output, People Cooking Less
–Households Dining Out, Traveling More, Limiting Y/Y Drop in May Vs. April, March –Govt Official: Cannot Yet Say If Rising Inflation Hurting Spending; Covid, Weather Also Affect Consumers –Real Household Income Falls For 2nd Straight Month as Inflation Bites By Max Sato (MaceNews) – Japan’s real household spending unexpectedly fell on year for the third […]
BOC Q2 Survey: Business Sentiment Dips for 2nd Straight Quarter on High Costs, Supply Delays
—Labour Shortages More Intense, Limiting Sales Growth; Wages Rising Fast –Capex Plans Backed by Demand but May Slow Amid High Costs, Higher Rates –Consumer Survey Also Points to Higher Inflation, Uncertainty By Max Sato (MaceNews) – Sentiment among companies in Canada declined for the second straight quarter in April-June, hit by rising costs and […]
White House and Other Schedules for Thursday, June 30
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: COMPREHENSIVE TRIP GUIDANCE AND PRESS SCHEDULE FORTHURSDAY, JUNE 30, 2022 In the morning, the President will attend and deliver remarks at the Meeting of the […]
Japan May CPI Annual Rate Remains Above 2% on Fuels, Food, Appliances
By Max Sato –Core CPI +2.1% Y/Y for May, April Largest in Over 13 Years If 2014 Sales Tax Hike Impact Excluded–Total CPI +2.4% Y/Y for May, April Largest in Over 30 Years Excluding Impact of 2014, 1997 Sales Tax Hikes–Pace of Energy Price Rise Slower; Household Durable Goods Prices on Uptrend (MaceNews) – Consumer […]
<strong>Powell: Rates Must Rise To “Restrictive” Levels to Curb Demand, Inflation</strong>
– Still Hopes For ‘Soft Landing’ but Achieving It ‘More Challenging’ By Steven K. Beckner (MaceNews) – Federal Reserve Chair Jerome Powell said Wednesday that he and his fellow monetary policy-makers must continue to raise short-term interest rates into “restrictive” territory to validate financial market expectations and successfully fight inflation. Powell, testifying on the Fed’s […]