WHITE HOUSE WATCH COMMENTARY: NECESSITY BRINGS INNOVATION AMID TURMOIL
By Denny Gulino WASHINGTON (MaceNews) – Who would have guessed you can track government spy planes above Washington protests via certain Web sites, or that a bankrupt Hertz can consider issuing stock or that the ubiquity of smartphones would transform the legacy of slavery forever? We’re learning so much as 2020’s second half begins. That […]
DATA FLASH: US INITIAL CLAIMS SLOW FURTHER; MAY PPI ABOVE EXPECTED
–Initial Claims -355,000 to 1.542 Mln; 40.4 Mln Unadj Total Under COVID–May PPI Up 0.4%, But Down 0.1% Ex Food and Energy; Gasoline +43.9%. By Kevin Kastner WASHINGTON (MaceNews) – The U.S. jobless claims data released earlier Thursday pointed to continued improvement for both new filings and existing filings, but the levels of both remain extremely […]
FED’S POWELL: DOING ALL WE CAN; WILL IT BE ENOUGH?
–‘Dot Plot’ Shows Assumptions of No Rate Hikes Through 2022 –To Sustain Pace of Treasuries, MBS Purchases By Denny Gulino WASHINGTON (MaceNews) – Federal Reserve Chair Jay Powell Wednesday offered reassurance policymakers are not even “thinking about thinking” about raising rates and shared his worries about possible long-term post-crisis unemployment. Answering questions after the Federal […]
FOMC POLICY STATEMENT JUNE 10, 2020
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 coronavirus outbreak is causing tremendous human and economic hardship across the United States and around the world. The virus and the measures taken to […]
DATA FLASH: US MAY CPI FALLS 0.1% BEFORE JUNE DEMAND PICKUP
–Core Prices Also Down 0.1%; Ex. Only Energy, CPI Up 0.1%.–Energy Prices Again Down Sharply; Foods Prices Rise on Food at Home–Owners’ Equivalent Rents Up 0.3%, Lodging Away from Home Down 1.5% By Kevin Kastner WASHINGTON (MaceNews) – U.S. consumer prices were below the flat reading expected, as energy prices declined further, but demand is […]
ECB EXPANDS BOND BUYING PROGRAM, DECLINES FURTHER EASING MEASURES
By Laurie Laird LONDON (MaceNews) – The European Central Bank expanded its emergency asset purchase program but declined to activate any further measures in what it calls its “policy toolkit,” despite forecasting a fall in inflation to just above zero. The ECB’s pandemic emergency purchase program, or PEPP, will increase by €600 billion to €1.35 […]
SIFMA SURVEY: ’20 GDP -5.5%; ’21 +4.7%; NO NEGATIVE RATES
NEW YORK (MaceNews) – A survey of 26 chief economists of global and regional financial institutions Tuesday saw U.S. fourth quarter to fourth quarter GDP falling 5.5% this year and rebounding strongly next year with a 4.7% gain. The survey, taken through May 28, also found no expectation for the Federal Reserve to purposely employ […]
BANK OF ENGLAND’S SAUNDERS CALLS FOR MPC TO COMMIT TO FURTHER ASSET PURCHASES
External MPC Member Refuses to Be Drawn on Negative Interest Rates By Laurie Laird LONDON (MaceNews) – A Bank of England rate setter has urged the Monetary Policy Committee to commit to further asset purchases at its upcoming meeting, but refused to be drawn on the possibility of negative interest rates in the UK. Addressing […]
EXPECTATIONS LIFT EURO AREA ECONOMIC SENTIMENT IN MAY, EUROSTAT REPORTS
By Marco Babic ZURICH (MaceNews) – Economic sentiment for the countries sharing the euro improved slightly in May, recovering from historic lows the month before, as industry and consumer sentiment increased while the outlook in the services industry continued to decline, according to data released Thursday by Eurostat. The Economic Sentiment Index rose to 67.5 […]
BOE’S BAILEY HINTS THAT EXPANDED QE WILL PRECEDE ANY RATE CUT
By Laurie Laird LONDON (MaceNews) – Bank of England Governor Andrew Bailey Wednesday suggested that the UK central bank is likely to expand its quantitative easing program before embarking on any move to nudge interest rates into negative territory. “We have signaled that we stand ready to do more within the framework of policies we […]