Analysis: Fed Ponders What Puts Out This Peculiar Inflation Fire
–Overheating or Super Squeezing? By Denny Gulino WASHINGTON (MaceNews) – Federal Reserve Chair Jay Powell Wednesday reassured his press conference viewers the central bank has the tools it needs to make sure aggressive inflation doesn’t last too long, reinforcing the narrative this inflation episode will meet its match. But what if the seeds of deflation […]
FOMC Doubles Taper to End Bond Buying in March as Inflation Forces Hawkish Tilt
—Three 2022 Rate Hikes Now Projected By FOMC Participants –Powell Hints At Quick Start To Funds Rate Liftoff After Taper Ends By Steven K. Beckner (MaceNews) – Federal Reserve policymakers moved dramatically, though not unexpectedly, Wednesday to adopt a more aggressive stance against inflation. The FOMC said it anticipates “similar reductions” in subsequent months, although […]
TEXT: FOMC Statement: Doubles Pace of Taper
WASHINGTON (MaceNews) – The Federal Open Market Committee Wednesday met expectations for a doubling of the pace of tapering and participants increased their calls for three rate hikes next year. The text of the policy statement follows: The Federal Reserve is committed to using its full range of tools to support the U.S. economy in […]
Japan Nov Producer Price Rise Remains 4-Decade High on Energy, Commodities
By Max Sato (MaceNews) – Producer prices in Japan continued rising from year-earlier levels, staying at a four-decade high, as global supply chain disruptions, albeit easing slightly, as well as labor shortages are pushing up energy and commodities markets, data released Friday by the Bank of Japan showed. By contrast, consumer inflation in Japan remains […]
Analysis: Inflation-Wary FOMC Seems Headed Toward a Quicker Pace of Tapering, Rate Hikes
– Wage-Price Trends Have Dramatically Changed the Fed’s Policy Calculus By Steven K. Beckner (MaceNews) – Who would have imagined just a short time ago that the Federal Reserve would not only be accelerating reductions of asset purchases before year’s end, but signaling an intention to raise short-term interest rates sooner and more rapidly than […]
Bank of Canada Keeps Record-Low Rate, Still Sees a Hike in Mid-2022
By Max Sato (MaceNews) – The Bank of Canada on Wednesday left its record-low policy rate — the target for overnight lending rates — at 0.25%, as expected, to continue supporting economic recovery while sticking to its recent projection that a rate hike is likely to come sometime between April and September. “The Governing […]
Eurozone Consumer Prices Rise 4.9% in November from A Year Ago on Energy Costs
ZURICH (MaceNews) – Consumer prices in the Eurozone are expected to rise 4.9 percent in November from a year ago, exceeding economists’ expectations according to preliminary HICP data released today by Eurostat. Economists had been expecting a price increase of 4.4 percent compared to year ago, according to the median of an Econoday survey of […]
Germany’s Consumer Prices Rose 5.2% From a Year-Ago; Energy Costs up 22.1%
ZURICH (MaceNews) – Consumer prices in Germany increased 5.2 percent in November from a year ago, up from 4.5 percent in October and exceeding economists’ expectations, according to preliminary data released by the Federal Statistics Office Destatis. Prices were driven higher by a 22.1 percent annual increase in energy costs, but Destatis also noted a […]
ECB’S Schnabel: Forecasts Show November is High Point of Inflation
ZURICH (MaceNews) – Currently surging inflation is seen peaking in November and then moving lower to once again fall below two percent, ECB governing council member Isabel Schnabel said in an interview Monday with Germany’s ZDF broadcaster. Inflation in the coming year will recede in direction of the ECB’s goal of 2 percent and many […]
Japan Nov Tokyo CPI Y/Y Rise Hits 16-Month High on Surging Energy, Food
— Utility Charges Following Lead of Soaring Gasoline, Heating Oil Costs— CPI Remains Under Pressure From Mobile Communication Fee Discounts By Max Sato (MaceNews) – The year-on-year rise in the core reading of consumer prices in Tokyo, the leading indicator of the national average, accelerated in November amid double-digit percentage gains in utility and fuel […]