STATUS CHECK: TRUMP WANTS TO DISOWN NYC, PORTLAND, D.C.
WASHINGTON (MaceNews) –-The following is Wednesday’s status check of developments in the U.S. that can influence economic, health and political outcomes: The day was full of campaign moves, some disguised as something else. For instance, President Trump’s memo to government agencies late in the day directed preparations be made to disown certain cities that he […]
US CBO TEXT: DEFICIT HEADING TO ALL-TIME RECORD; 10-YR OUTLOOK SURPRISES
WASHINGTON (MaceNews) – The non-partisan Congressional Budget Office Wednesday updated its outlook for annual budget deficits, and while the impending record widening is no surprise, the tapering toward the end of the next decade was unexpected. The following is the CBO text of its summary of the budget update, with boldfaced emphasis added: • Deficits […]
STATUS CHECK: CREDIBILITY, DENIALS, INSINUATIONS AND CHARGES
WASHINGTON (MaceNews) – The following is Tuesday’s status check of developments in the U.S. that can influence economic, health and political outcomes: At the end of last week it was noted here that events had chipped away at the credibility of the government and the White House in particular regarding the coronavirus. Now it has […]
DATA PREVIEW: AUGUST PAYROLLS, HURRICANE LAURA TOP OF MIND
By Kevin Kastner WASHINGTON (MaceNews) – The impact of Hurricane Laura, which ripped through the Gulf Region on Thursday and is carving its way up the middle of the U.S. as we speak, will be felt in the weekly initial claims and rig count data next week and could also affect retail sales and other […]
DATA FLASH: US JULY PERSONAL INCOME TICKS UP, PCE GROWTH SLOWS
-US July Personal Income +0.4% After -1.0% in June, Savings Rate 17.8%-Nominal PCE +1.9%, Real PCE +1.6%; Core Prices Rise 0.3%-Real PCE Tracking 36.6% SAAR Above Second Quarter Average-Chicago PMI Trims to 51.2 in August from 51.9 in July-August Michigan Sentiment Revised Up to 74.1, Ahead of 72.5 in July By Kevin Kastner WASHINGTON (MaceNews) […]
CORONAVIRUS DEALS BLOW TO GERMAN CONSUMER CONFIDENCE: GFK INSTITUTE
By Marco Babic ZURICH (MaceNews) – After improving for three consecutive months, consumer confidence in Germany fell on fears coronavirus restrictions will be further tightened, which served to dampen income expectations. Based on August results, Germany’s GfK institute is forecasting a reading of -1.8 in September for consumer confidence, down from a revised -0.2 in […]
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 […]
DATA FLASH: US 2ND QTR GDP REVISED UP TO -31.7%
—Second Quarter PCE Revised Up to -34.1% From -34.6% Previously–Initial Jobless Claims Fell By 98,000 to 1.006 Million in August 22 Week By Kevin Kastner WASHINGTON (MaceNews) – Second quarter GDP was revised up due to upward adjustments to all its components. Even with the small improvement, though, the second quarter reading remains the largest […]