San Fran Fed’s Daly Calls For ‘Patience’ Regarding Monetary Tightening
–Wants More ‘Clarity” Before Adjusting Taper Pace, Funds Rate –Moved Liftoff Date From 2024 to 2023; Not Sure About 2022 Given Delta –Data Too ‘Cloudy’; Tightening Policy Further Could Be ‘Costly,’’Mistake’ By Steven K. Beckner (MaceNews) – San Francisco Federal Reserve Bank President Mary Daly called Tuesday for “patience” and urged the Fed to await […]
Facing Debt Buildup, Italy Pressing for More Lenient EU Fiscal Rules Post-Covid – Sources
By Silvia Marchetti ROME (MaceNews) – Italy is pressing its European Union partners to define new, more relaxed fiscal rules for the post-Covid era and warns of financial instability ahead unless the EU acts quickly, according to ruling Italian coalition sources. The debate at EU level on the need to reform the Stability and Growth […]
MaceNewsViews: Commentary – Democrats Celebrating (Perhaps Fleeting) Victory
By Eric Ham WASHINGTON (MaceNews) – On Monday, President Biden will sign into law the $1.2 trillion bipartisan infrastructure bill, a cornerstone of the president’s agenda, in a lavish ceremony with many supporters and even a few Republicans present. The bill provides billions for roads and bridges across the nation and much more, for instance […]
PREVIEW: Japan Q3 GDP Seen Down as Covid Spreads, Supply Squeeze Lingers
By Max Sato (MaceNews) – Japan’s gross domestic product for the July-September quarter is forecast by economists to show a 0.2% slump on quarter, or an annualized 0.8% drop, as consumers were cautious amid a resurgence in coronavirus infections and global supply chain disruptions slowed business investment and exports. The median forecast for Q3 […]
Germany’s Current Economic Situation Negatively Impacted by Supply Bottlenecks and Inflation Concerns
ZURICH (MaceNews) – While the economic outlook for Germany improved for six months hence, current conditions are being negatively impacted by supply bottlenecks and concerns over inflation, according to the latest survey data from the ZEW Institute in Mannheim. Current conditions fell more than expected in November, with the index shedding 9.1 points to 12.5, […]
Italy’s Parliament Battle Against the ‘Citizenship Wage’ Will Open Further Cracks in Ruling Majority – Sources
By Silvia Marchetti ROME (MaceNews) – Italy’s parliament attempt to ‘dismantle’ the controversial citizenship wage will open further cracks in the governing coalition and is likely to raise political instability, according to ruling party sources. The citizenship wage – a monthly income granted to the jobless as long as they have an Italian passport – […]
US House-Passed Infrastructure Bill Gets Presidential Signature in Coming Days
By Eric Ham WASHINGTON (MaceNews) – After months of wrangling and tense back-and-forth negotiations, the House of Representatives finally passed the $1.2 trillion infrastructure spending bill shortly before midnight Friday. Saturday morning President Biden hailed it as an inflection point toward winning “the competition of the 21st century., The legislation passed 228-206 with 13 Republicans […]
FOMC: Tapering of Bond Buying to Start Later This Month, Continue in December
– Fed To Cut Treasury Securities By $10 Billion; MBS $5 Billion Per Month – Powell: Tapering Apt to End Mid-2022, but Adjustable Depending on Conditions – FOMC Still ‘Expects’ Inflation To Be ‘Transitory,’ but Powell More Worried – Powell Says ‘Won’t Hesitate’ To Raise Rates to Counter Inflation if Needed By Steven K. Beckner […]
FOMC: Tapering to Begin This Month at the Expected Pace
WASHINGTON (MaceNews) – The Federal Open Market Committee Wednesday fulfilled expectations that tapering will get underway, starting the process this month while making no reference to the timeline of eventual liftoff other than the usual goals of maximum employment and 2% inflation. The policy announcement follows: With progress on vaccinations and strong policy support, indicators […]
Japan Oct Tokyo Core CPI Posts Only Small Gain, Led by Higher Energy Costs
— Electricity Charges, Gasoline Prices Pick Up Pace of Y/Y Gains— Mobile Communication Fees Show Deeper Drop, Limiting CPI Rise By Max Sato (MaceNews) – The core reading of consumer prices in Tokyo, a leading indicator of the national average, posted the second consecutive but small year-over-year gain in October as higher electricity bills and […]