Cautious Powell Stops Short of Signaling Near-Term Tapering In Jackson Hole Talk
‘Progress’ on Employment Made But Much More Ground To Cover Cites Downside Risks From Delta Variant Warns Would Be ‘Mistake’ To Tighten Policy Too Soon By Steven K. Beckner (MaceNews) – A cautious Federal Reserve Chairman Jerome Powell Friday continued to indicate that the Fed is getting closer to scaling back asset purchases, but stopped […]
Japan Aug Tokyo Core CPI Improves to Flat on Energy, Hotels After Year-Long Slump
— Gasoline Markup Slows While Electricity Bills Now Up on Year — Air Conditioners, Property Insurance Premiums Also Support Prices By Max Sato (MaceNews) – The core reading of consumer prices in Tokyo, a leading indicator of the national average, was unchanged from a year earlier in August, firming after a year-long decline, thanks to […]
The July FOMC Meeting Saw Divergent Views on Tapering Timing
WASHINGTON (MaceNews) – As described at the time by Federal Reserve Chair Jay Powell, the July 27-28 Federal Open Market Committee saw a variety of views about when to start the tapering progress, exhibiting considerably more caution than much of the subsequent Fedspeak advocating faster action, the minutes of the meeting suggested Wednesday. The section […]
Eurozone Final July HICP Rose 2.2% Year-on-Year, Confirming Flash Estimate
ZURICH (MaceNews) – Inflation in the euro area rose 2.2 percent from a year ago in July, rising from 1.9 percent through June, final figures released by Eurostat showed Wednesday. Energy prices rose 14.3 percent in July, revised up from the flash estimate of 14.1 percent, with the rate increasing from 12.6 in June. Without […]
Monday Washington Schedules from MaceNews
WASHINGTON (MaceNews) – The following are Monday’s schedules for the White House, Treasury, the State Department, the Capitol and for upcoming Federal Reserve events: The White House DAILY GUIDANCE AND PRESS SCHEDULE FORMONDAY, AUGUST 9, 2021 On Monday, the President will remain in Wilmington, Delaware. In the morning, the President will receive the President’s Daily […]
US Data Preview Commentary: CPI, PPI, UMich and Most Important and Least Regarded, Productivity
WASHINGTON (MaceNews) – It’s inflation week, with the CPI and the PPI on Wednesday and Thursday, reigniting the now sterile speculation about whether price pressures are transitory, when it’s more important for the same question to be applied to a quite different economic statistic, Tuesday’s report on productivity. Simply stated, productivity growth is what sustains […]
Fed’s Clarida Conditionally Points Toward Tapering Announcement ‘Later This Year’
–But Fed Vice Chairman Wants ‘Several Months’ of Labor Market Data By Steven K. Beckner (MaceNews) – Federal Reserve Vice Chairman Richard Clarida pointed toward a potential announcement of reduced asset purchases “later this year,” but said it will probably take “several months” to get a clear employment picture. Clarida was upbeat in a webinar […]
July Core Tokyo CPI Marks 1st Y/Y Rise in A Year on Higher Energy Costs
— Smaller Processed Food Price Drop, Newspaper Markups Also Support CPI— Total CPI in Capital Dips on Slump in Volatile Fresh Food Prices By Max Sato (MaceNews) – Consumer prices in Tokyo, a leading indicator of the national average, posted the first year-on-year rise in 12 months in July in the core measure, as gasoline-led […]
Eurozone HICP Rises Unexpectedly in July, Exceeding Expectations, Flash Estimate Shows
ZURICH (MaceNews) – Led by double digit growth for energy costs, inflation in the euro-area rose more than expected in July, rising 2.2 percent from year-ago levels, the flash estimate from Eurostat showed. The increase in HICP exceeded expectations for 2.0 percent annual gain, according the median of an Econoday survey of economists’ forecasts. Energy […]
US NABE Survey Shows Optimism About Pace of Hiring, Profits, Growth
WASHINGTON (MaceNews) – The latest survey of National Association for Business Economics Monday showed continuous optimism about hiring, profits and growth. The 93 business economists surveyed saw a strong growth trajectory ahead with some seeing the second quarter’s expected spectacular result, to be reported Thursday, being maintained in several quarters ahead. The commentary and highlights […]