Japan January Core CPI Annual Rate Decelerates to 22-Month Low of 2.0% on Further Drop in Subsidized Energy Prices, Slower Food Markups, Smaller Hotel Fee Rise
–Total CPI Y/Y Rise Also Slows to 22-Month Low of 2.2% But Above Consensus–Core-Core CPI (Ex-Fresh Food, Energy) Annual Rate Eases to 11-Month Low of 3.5%–Resumed Web Scraping Data Collection Causes Spike in Overseas Package Tour Prices, Leading to Slower-Than-Expected CPI Easing–Services Costs Up 3.2% Y/Y Amid Wage Hikes Vs. Goods Prices +1.9% By Max […]
UPDATE: Fed’s Jefferson, Harker Urge Cautious Approach to Cutting Interest Rates
–Harker Q&A: Does Not See FOMC Cutting Rates as Soon as March, But Maybe in May By Steven K. Beckner (MaceNews) – Federal Reserve Vice Chairman Philip Jefferson said Thursday that the Fed must be “careful” and “nimble” in charting the course of monetary policy in coming months, but gave no hint of when he […]
Fed’s Jefferson, Harker Urge Cautious Approach to Cutting Interest Rates
By Steven K. Beckner (MaceNews) – Federal Reserve Vice Chairman Philip Jefferson said Thursday that the Fed must be “careful” and “nimble” in charting the course of monetary policy in coming months, but gave no hint of when he thinks the Fed’s policymaking Federal Open Market Committee should start cutting short-term interest rates. Jefferson did […]
Fed’s Barr, Goolsbee Weigh Risks of Cutting Rates Too Soon Or Too Late
— Goolsbee Focuses More On Danger Of Waiting To Ease ‘Quite Restrictive’ Stance By Steven K. Beckner (MaceNews) – While not significantly diverging from the cautious approach toward monetary easing which Federal Reserve Chairman Jerome Powell has preached over the past two months, two senior Fed officials expressed varying degrees of concern Wednesday about the […]
White House and Other Schedules for Tuesday, Feb 13
WASHINGTON (MaceNews) – The following are Tuesday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as U.S. economic data and Federal Reserve events: DAILY GUIDANCE AND PRESS SCHEDULE FOR TUESDAY, FEBRUARY 13, 2024 In the afternoon, the President and the Vice President will have lunch. This meeting in the President’s Private Dining […]
Japan January Producer Inflation Remains Tame with 0.2% Y/Y Rise as Subsidies Trim Utility Costs, Global Demand for Lumber, Steel Remains Soft
—Producer Prices Mark 35th Straight Y/Y Gain but Recent Figures Stay Lowest Since 0.9% Drop in February 2021–Producer Prices Flat Month on Month; Firmer Prices for Utilities, Electric Machines Offset Lower Costs for Farm Produce, Fuels By Max Sato (MaceNews) – Producer inflation in Japan rose 0.2% on the year in January, coming in higher […]
White House and Other Schedules for Monday, Feb 12
WASHINGTON (MaceNews) – The following are Monday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as U.S. economic data and Federal Reserve events: DAILY GUIDANCE AND PRESS SCHEDULE FOR MONDAY, FEBRUARY 12, 2024 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed […]
IMF: BOJ Should Consider Unwinding Monetary Easing Under Yield Curve Control Framework Now
–IMF: BOJ Then Should Gradually Raise Interest Rates–IMF Critical of Kishida Government’s ‘Untargeted’ Economic Stimulus Package By Max Sato (MaceNews) – The Bank of Japan should consider unwinding its large-scale monetary easing now by exiting the seven-year-old yield curve control framework, the International Monetary Fund said Friday, noting that easing in the past decade has […]
Japan December Household Spending Posts 10th Straight Y/Y Drop as Inflation Bites, Milder Weather Dampens Demand for Winter Clothing, Heaters
–Households Seeking Savings by Switching to Low-Cost Mobile Phone Plans–Eating Out Continues Growing, Vehicle Purchases, Car Services Rebound–Real Household Income Posts 15th Straight Y/Y Drop on Elevated Costs By Max Sato (MaceNews) – Japan’s real household spending posted its 10th straight drop on the year in December, down a deeper-than-expected 2.5%, following a 2.9% dip […]
US January ISM Manufacturing in Contraction for 15th Straight Month but Picks Up Toward Growth on Unexpected Jump in New Orders, Stable Output
–ISM Manufacturing Index 49.1 Vs. Downwardly Revised 47.1 in December–ISM’s Fiore: This Could be Beginning of Growth–Fiore: Still Bullish Main Index Will Go Above Neutral Line of 50 in March–Fiore: Customer Inventories Still Too Low, Positive for Future New Orders–Fiore: Member Firms Generally Agree to Pay Higher Prices in January By Max Sato (MaceNews) – […]