DATA FLASH: US AUGUST PPI UP 0.3%; FOOD AND ENERGY DOWN
–Prices Ex. Food and Energy Rose 0.4%; Up 0.3% Excluding Trade Services as Well–Energy Prices Fall 0.1% After Two Gains; Gasoline Prices Down 1.4%–Food Prices Down 0.4%, Continuing Downward Trend–Initial Jobless Claims Unchanged at 884,000 in the August 5 Week By Kevin Kastner WASHINGTON (MaceNews) – U.S. business prices rose by 0.3% in August, as […]
DATA PREVIEW: IS INFLATION NOW A TREE FALLING IN THE FOREST?
By Kevin Kastner WASHINGTON (MaceNews) – The highlight of next week, not counting a Monday holiday of course, will be the August readings of business and consumer inflation at the end of the week–indicators that were closely-watched before the COVID crisis. But now, thanks to much more pressing issues this year, inflation was put on […]
FED’S EVANS: ‘PARTISAN POLITICS’ THREATENS FISCAL RELIEF; POSES ‘SIGNIFICANT DOWNSIDE RISK’
NEW YORK (MaceNews) – Political wrangling threatens needed fiscal support for the U.S. economy, and poses a big downside risk, Chicago Fed President Charles Evans said Thursday. In unusually blunt language, Evans called out politicians for lack of action, saying the expiration of an array of federal programs threatens the recovery, and that more fiscal […]
ECB CHIEF ECONOMIST HINTS AT FURTHER EURO ZONE STIMULUS
By Laurie Laird LONDON (MaceNews) – The European Central Bank may be forced to enact further extraordinary measures to lift inflation toward its target following the shock of the coronavirus, according to the Bank’s chief economist Thursday. “For the ECB to deliver on its mandate [the bank may resort] to additional monetary stimulus,” Lane told […]
ANALYSIS: FED CAN NOW HAVE FULL-THROATED RECOVERY FOCUS ON JOBS
By Denny Gulino WASHINGTON (MaceNews) – The pandemic’s destruction of U.S. employment was not the trigger for the new Federal Reserve policy framework, in the works long before the virus hit. However the jobs crisis is a perfectly appropriate context for the focus on employment. That focus had already become the hallmark of the Jay […]
POWELL: FED WILL BE FLEXIBLE WITH AVERAGE INFLATION TARGETING, ACT AS NEEDED
By Steven K. Beckner (MaceNews) – Federal Reserve Chair Jerome Powell said Thursday the Fed will be “flexible” in pursuing a new “average inflation targeting” regime and not use any set “mathematical formula.” Powell, elaborating on what he called a “robust” new monetary policy strategy framework adopted earlier by the Fed’s policy-making Federal Open Market […]
TEXT: FED’S GUIDE TO LONGER-RUN GOALS, MONPOL STRATEGY
WASHINGTON (MaceNews) – The following is the text of the Federal Reserve’s guide to the changes in its longer-run goals and monetary policy strategy that was released along with Fed Chair Jay Powell’s remarks Thursday morning: In the revised Statement on Longer-Run Goals and Monetary Policy Strategy shown below, bold red text shows additions and […]
BoA GLOBAL FUND MNGR SURVEY: INVESTORS INCREASE EQUITY HOLDINGS, TRIM BOND UNDERWEIGHT
–Inflation Concerns Broaden –US Election Deemed 3rd Biggest Tail Risk, Behind Covid/US-China Trade By Vicki Schmelzer NEW YORK (MaceNews) – Global investors polled in August were confident enough about global growth to increase their equity holdings and pare back their bond underweight, according to the findings of the BofA Global Research’s monthly fund manager survey, […]
DATA FLASH: US JULY CPI SURGED 0.6%, ECHOING PPI INFLATION
–Core Prices Jump 0.6%; Ex. Only Energy, CPI Rose 0.5%.–Energy Prices Rose 2.5%, Food Prices Down 0.4% By Kevin Kastner WASHINGTON (MaceNews) – Following Tuesday’s surprisingly large gains in business prices, there was a question of whether those prices rebounds would feed down to the consumer level. That was answered Wednesday morning with an extraordinarily […]
STATUS CHECK: BAD VIBES ACCUMULATE RE CHINA
WASHINGTON (MaceNews) – The following is Monday’s status check of developments in the U.S. that can influence economic, health and political outcomes: A new week filled with echoes of last week. Weekend rioting, Chicago after midnight looted stores. A police shooting in the afternoon and mistaken rumors about that shooting was the spark. There was […]