TRANSCRIPT: Fed’s Powell Says Quarter-Point Cut ‘Risk Management’ Rather Than Reaction to Actual Jobs Deterioriation
WASHINGTON (MaceNews) – The following is a transcript of Federal Reserve Chair Jerome Powell’s post-FOMC news conference Wednesday: Recent indicators suggest that growth of economic activity has moderated. GEP rose at a pace of around one and a half percent in the first half of the year, down from 2.5 percent last year. The moderation […]
FOMC POLICY STATEMENT – As expected, with quarter-point rate cut followed by dot-plot expectations for two more this year
WASHINGTON (MaceNews) – The Federal Open Market Committee’s Wednesday policy statement: Recent indicators suggest that growth of economic activity moderated in the first half of the year. Job gains have slowed, and the unemployment rate has edged up but remains low. Inflation has moved up and remains somewhat elevated. The Committee seeks to achieve maximum […]
ISM: US Services Sector Slows on Weak Demand, Soft Hiring and Rising Costs as Tariffs Begin to Bite
–ISM Services Index 50.1 Vs. 50.8 in June, 49.9 in May, Below Consensus 51.5–ISM’s Miller: Employment Index’s Continued Contraction, Faster Rise in Prices Index Worrisome–Miller: Expansion in Business Activity, New Orders Indexes Highlight Resilience of Services Sector–Miller: Firms Wary of Impact of an Expected Fed Rate Cut as Inflation Remains High By Max Sato (MaceNews) […]
US TARIFFS STATE OF PLAY: New Reciprocal Tariffs Don’t Dispel Uncertainty, Confusion
–Trump Fires Head of the Bureau of Labor Statistics because of alleged manipulation By Denny Gulino WASHINGTON (MaceNews) – With new reciprocal levies raising America’s average tariff rate to above 18% and the latest jobs and ISM reports raising stagflation fears, the overall era of uncertainty seems to have intensified, not diminished. The environment of […]
TRANSCRIPT: Fed’s Powell Stays Away From Promises of a September Rate Cut
.WASHINGTON (MaceNews) – The following is a rough transcript of Wednesday afternoon’s post-FOMC meeting news conference with Federal Reserve Chair Jerome Powell: Despite elevated uncertainty, the economy is in a solid position. The unemployment rate remains low and the labor market is at or near maximum employment. Inflation has been running somewhat above our 2% […]
Preview: Bank of Canada Set to Pause for 3rd Straight Meeting amid Sticky Core Inflation, Uncertainty over US Trade Row Impact on Growth, Costs
–BOC Widely Expected to Keep Policy Rate at 2.75% Wednesday After 7 Rate Cuts Totaling 225 Basis Points from June 2024 Until March 2025–Focus is on Whether Bank will Continue to ‘Proceed Carefully’ and Remain ‘Less Forward-Looking Than Usual’ By Max Sato (MaceNews) – The Bank of Canada is widely expected to maintain its policy […]
BofA Global Research Fund Manager Survey: Investors Bullish Despite Tariff Uncertainty
By Vicki Schmelzer NEW YORK (MaceNews) – Global investors maintained a bullish bent in July despite ongoing uncertainty about tariffs, according to BofA Global Research’s monthly fund manager survey, released Tuesday. A net 31% of those polled this month looked for a weaker global economy in the coming months. This compared to a net 46% […]
Japan Weekahead: Fuel Subsidies, Softer Global Demand Seen Easing Producer Inflation Further While Real Wages Slow to Recover amid High Costs of Living
By Max Sato (MaceNews) – Here are the key Japanese economic events for the coming week. In the previous week, the Bank of Japan’s quarterly business survey for June showed confidence among major manufacturers unexpectedly posted a slight pickup, led by steel mills, oil refineries and paper/pulp makers thanks to lower materials costs, while producers […]
Fed’s Powell Allows For Rate Cuts ‘Sooner Rather Than Later” – If Inflation Behaves
– Repeats FOMC Can Afford to Wait and Be Careful Amid Great Uncertainty – Says FOMC Must Be ‘Careful”; Doesn’t Need To Be ‘In Any Rush’ By Steven K. Beckner (MaceNews) – Federal Reserve Chairman Jerome Powell reiterated his belief that the Fed can afford to wait for more evidence on inflation and labor market […]
Japan Weekahead: Bank of Japan Set to Keep 0.5% Policy Rate, Focus on Possible Moderation in FY26 Balance Sheet Trim; Exports Hit by Trump Tariffs, Underlying Inflation Still Below 2%
By Max Sato (MaceNews) – Here are the key Japanese economic and political events for the coming week. – Monday, June 16 1400 JST (0500 GMT/0100 EDT) – The Bank of Japan’s nine-member board begins its two-day policy meeting. On day one, board members compare notes on the economic and financial conditions in Japan and […]