DATA PREVIEW: HOUSING SECTOR FUELED BY LOW RATES
By Kevin Kastner WASHINGTON (MaceNews) – While the retail and manufacturing sectors continue to improve from their spring lows, neither have received the benefits of record low interest rates as much as the housing sector. In the upcoming light data week, August home sales data will take center stage. After double digit gains in July, […]
FED’S BULLARD: ECONOMY CAN BOUNCE BACK QUICKLY; JOBLESS RATE DROPPING
NEW YORK (MaceNews) – St. Louis Fed President James Bullard Friday offered a sunny view of the economic outlook, saying the economy continues to rebound as businesses adapt to the pandemic, and unemployment is headed down to 6.5% by December. Bullard said much of the rise in unemployment has been due to temporary layoffs, and […]
US ENERGY SECRETARY: MUST ADDRESS ENERGY INDUSTRY’S ‘INFRASTRUCTURE PROBLEM’
By Brai Odion-Esene, SW4 Insights for Mace News WASHINGTON (MaceNews) – Cost-effective and efficient energy delivery is essential to growing the United States’ clout in the global energy markets, as well as reducing costs for domestic consumers, the Trump administration’s top energy official said Thursday. “It’s been a difficult time for the (energy) industry,” Energy […]
DATA FLASH: AUGUST HOUSING STARTS SLOW DUE TO DROP IN MULTIFAMILY
–Housing Starts Fall By 5.1% to 1.416 Mln SAAR, But Single-Family Up 4.1%–Initial Jobless Claims Fall 33,000 to 860,000 in September 12 Week–Philadelphia Fed Index Slips to 15.0 in September Vs 17.2 August By Kevin Kastner WASHINGTON (MaceNews) – The U.S. August home building data, released Thursday, were weaker than expected. However, the data represent […]
BOE LEAVES POLICY UNCHANGED; SETS THE STAGE FOR NOVEMBER EASING
By Laurie Laird LONDON (MaceNews) – The Bank of England made no changes to its benchmark rate or quantitative easing package at Wednesday’s rate setting meeting but left the door wide open for policy changes at its next gathering in November. Interest rates remain at a record low of 0.1%, while the total stock of the […]
STATUS CHECK: VACCINES, BIG 10, 2% INFL – ALL ON THE WAY
WASHINGTON (MaceNews) – The following is Wednesday’s status check of developments in the U.S. that can influence economic, health and political outcomes: Wednesday and it seems the world is singing the old Bob Gibson song, “That’s the Way It’s Gonna Be,” also recorded by Bob Denver, The Chad Mitchell Trio, Jose Feliciano and many more. […]
FOMC DOUBLES DOWN ON INFLATION OVERSHOOTING
–To Aim ‘Moderately above 2% For Some Time’ –Will Have a Big Area of the Economy ‘That Struggles’ By Denny Gulino WASHINGTON (MaceNews) – The new era of Federal Reserve policy allowing an overshoot of its 2% inflation target for an extended time launched Wednesday with two Federal Open Market Committee dissents after a “robust […]
TEXT: FOMC STATEMENT – TO KEEP ACCOMMODATION TILL HIT INFL TARGET
WASHINGTON (MaceNews): The following is the text of the Federal Open Market Committee’s policy statement released Wednesday: The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. The COVID-19 pandemic is causing tremendous human and […]
DATA FLASH: RETAIL SALES GROWTH SLOWS FURTHER, UP 0.6% IN AUGUST
–Retail Sales Ex Motor Vehicles Up 0.7%; Vehicle Sales Rebound By 0.2%–Business Inventories Rise 0.1% in July, Business Sales Up 3.2% By Kevin Kastner WASHINGTON (MaceNews) – Retail sales rose for the fourth straight month in August, but the pace of growth continues to slow as the initial post-shutdown burst is running out of strength. […]
STATUS CHECK: SIGNALS SENT, WITH SIGNINGS – AND ROCKETS
WASHINGTON (MaceNews) – The following is Tuesday’s status check of developments in the U.S. that can influence economic, health and political outcomes A lot of signaling embedded in the day’s news, starting with the signing of three documents at the White House, formally committing Bahrain, the UAE and Israel to open embassies in each other’s […]