US Economy Roaring Back, But FOMC Not Ready To Respond … Yet
By Steven K. Beckner (MaceNews) – The economy may be at “an inflection point,” as Federal Reserve Chairman Jerome Powell has said, but monetary policy remains more reflexive than anything, which is to say he and his fellow Fed policymakers are still very much in emergency response mode, concentrating on helping the economy recover from […]
US Data Preview: New/Existing Home Sales, Leading Indicators and the Restoration Economy
WASHINGTON (MaceNews) – Significant economic data reports other than new and existing home sales are completely absent in the week ahead but plenty is happening in the economy now that it’s in the midst of one of its biggest booms ever. Which makes a lot of Nervous Nellies, well, nervous. In a world of accelerating […]
Saturday/Sunday Washington Schedules MaceNews
WASHINGTON (MaceNews) – The following are Saturday and Sunday schedules for the White House, Treasury, the State Department, Capitol Hill and for upcoming economic data and Federal Reserve events: The White House WEEKEND GUIDANCE AND PRESS SCHEDULE FORSATURDAY, APRIL 10, 2021 AND SUNDAY, APRIL 11, 2021 On Saturday and Sunday, the President has no public […]
US Data Preview: CPI, Retail Sales, Housing Starts
WASHINGTON (MaceNews) – This current month and in May is when the inflation rate is finally going to hit the Fed’s target of 2% and we begin riding the “transitory” express, waiting for the ride back down. At least that’s what Federal Reserve Gov. Lael Brainard told us late last month about negative comps. “The […]
Japan’s Consumer Sentiment Picks Up Amid Pandemic Uncertainty
By Max Sato (MaceNews) – The latest surveys by the government and the Bank of Japan point to some optimism about a recovery from the pandemic that has choked global growth for about a year, but the spread of coronavirus variants amid the slow rollout of vaccinations is clouding the outlook. The monthly Economy Watchers […]
FOMC Minutes Show Determination to Stay the Course and Stick With Message Until Outcomes Improve
WASHINGTON (MaceNews) – The minutes of the most recent Federal Open Market Committee released Wednesday only reinforced the central bank’s pandemic-era’s message, that it is standing pat on its highly accommodative stance until employment has fully recovered while it carefully monitors the Treasuries market for signs of stress. Government pandemic relief is hastening recovery, several […]
Data Preview: But First, March Payrolls Were Strong – and Irrelevant for the Long Haul – As ‘Benchmark Effect’ Skews Perceptions
WASHINGTON (MaceNews) – The next steps for the U.S. economy and the monetary policy that nurtures and sustains it beyond Friday’s strong jobs report are the same as before the report, a long slog of many more such reports before the recovery approaches, re-employment becomes new employment and rates edge up to normal. The phase […]
Eurozone March Flash HICP Rises to 1.3% Year-on-Year on Energy Costs
ZURICH(MaceNews) – Inflation in the Euro-area increased in March, rising 1.3% year-over-year, driven higher by rising energy costs, according to data released by Eurostat. The March result matched the median forecast of an Econoday survey of economists, and was well above the 0.9% rate in February. Compared to a month ago, prices also rose 0.9%, […]
Fed’s Bostic Optimistic About Economy But Thinks It’s Too Soon To Consider Tightening
By Steven K. Beckner MaceNews) – Atlanta Federal Reserve Bank President Raphael Bostic spoke optimistically about the economic outlook Tuesday, but made clear improving prospects have not yet made him more inclined to firm monetary policy. Bostic, a voting member of the Fed’s policy making Federal Open Market Committee, downplayed the risks of “overheating” or […]
Japan Mar Tokyo CPI Firmer Amid Energy Market Pickup; Outlook Uncertain
By Max Sato –Gasoline Prices Now Up, But Utilities Still Push Down Overall Energy Costs–Hotel Fees Stop Falling; Appliances Prices On Uptrend In Stay-Home Lifestyles (MaceNews) – Consumer prices in Tokyo, a leading indicator of the national average, gained slightly in March from February, leading to a smaller year-on-year drop in the core reading, amid […]