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 […]
GERMAN ECONOMIC SENTIMENT IMPROVED AGAIN IN SEPTEMBER, BEATS EXPECTATIONS
ZURICH (MaceNews) – The economic outlook for Germany improved again in September as both economic sentiment and current conditions rose more than analysts had expected, even in the face of rising COVID-19 cases. The ZEW Indicator which measures the outlook for economic sentiment over six months improved 5.9 points in September to 77.4. This was […]
STATUS CHECK: ALL THE NEWS THAT FITS, REGARDLESS
WASHINGTON (MaceNews) – The following is Monday’s status check of developments in the U.S. that can influence economic, health and political outcomes The beginning of the week and instead of a nice orderly prioritization of the day’s key events, a mélange of the sometimes sober, sometimes hard to believe, sometimes truly absurd happenings that were […]
FOMC PREPARES FOR FIRST MEETING IN NEW MONETARY FRAMEWORK ERA
By Steven K. Beckner (MaceNews) – There was very little chance the Federal Reserve was going to raise interest rates anytime soon but, just to make sure, the Fed’s rate-setting Federal Open Market Committee gave itself a dual justification for holding rates down indefinitely with the new monetary policy framework it announced on Aug. 27 […]
DATA PREVIEW: IS IT TOO EARLY TO CARE ABOUT 2023?
By Kevin Kastner WASHINGTON (MaceNews) – The upcoming week’s key events are concentrated into the middle of the week, with Wednesday’s FOMC meeting the highlight. While it is doubtful that the meeting will produce anything earth-shattering, it should confirm the shift in attention toward improving the employment situation and supporting the economic recovery rather than […]