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 […]
DATA FLASH: US AUGUST CONFIDENCE FALLS FURTHER AS CONCERNS GROW
–Confidence in Both Current Conditions, Expectations Drop Sharply–July New Home Sales Jump by 13.9% To 901,000 SAAR, up 36.3% Yr/Yr –Manufacturing Regional Data Mixed, But Further Services Improvement By Kevin Kastner WASHINGTON (MaceNews) -The Conference Board’s U.S. consumer confidence index fell to a reading of 84.8 in August from a downward revised 91.7 reading in […]
DATA PREVIEW: STIMULUS GRIDLOCK, COVID CUTS INTO CONFIDENCE
By Kevin Kastner WASHINGTON (MaceNews) – The inability to pass new stimulus measures in the face of rising COVID-19 cases likely had a dampening effect on consumer confidence in August, even as interest rates have hit rock-bottom, gasoline prices are low and with the U.S. stock markets to a large extent having eclipsed their pre-COVID […]
STATUS CHECK: OF SIDESHOWS AND MAIN EVENTS
WASHINGTON (MaceNews) – The following is Thursday’s status check of developments in the U.S. that can influence economic, health and political outcomes: In the latter half of August, all kinds of news. Another former top aide to the president indicted. A 77-year-old white man accepts the nomination to be president. A coronal mass ejection – […]
DATA FLASH: US INITIAL CLAIMS, PHIL FED INDEX DISAPPOINTS
–-Initial Claims +135,000 to 1.106 Mln In August 15 Week–-Philadelphia Fed Index Falls to 17.2 in August from 24.1 in July–-Leading Indicators Index Rises 1.4%/July, But Suggests Recovery Slowing By Kevin Kastner WASHINGTON (MaceNews) – The future of the enhanced jobless claims program remains uncertain as talks between the Administration and Congress have gone silent, but […]
EXCLUSIVE-DALLAS FED’S KAPLAN FOR ‘RESTRAINT’ IN DOING MORE MONETARY STIMULUS
–‘Quite A Ways’ From Considering Rate Hikes, But Cautions About More QE –Concerned About Dollar, Potential Longer Run Inflation, Financial Instability By Steven K. Beckner (MaceNews) – Dallas Federal Reserve Bank President Robert Kaplan said the Fed is “quite a ways” from considering raising interest rates, but advocated “restraint” in doing more to stimulate the […]
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, […]