ANALYSIS: Japan Faces Cost Inflation Amid Weak Yen, Slow Wage Growth
By Max Sato (MaceNews) – Rising energy and commodities prices may help lift Japan’s near-zero inflation rate but a further rise in the costs for daily necessities would dampen already wobbly consumer spending and surging producer prices would hurt small businesses that cannot pass higher input costs on to customers amid uncertain growth prospects. Japan […]
Fed’s Beige Book Sees ‘Significantly Elevated Prices’
WASHINGTON (MaceNews) – The Federal Reserve’s survey of economic conditions coast to coast Wednesday found “significantly elevated prices” and some regional Fed districts in which growth slowed, hampered by labor shortages, supply disruptions and, of course, the Delta variant. Auto sales declined and some districts “noted increased uncertainty and more cautious optimism than in previous […]
Pres Biden’s ‘Build Back Better’ Getting Makeover
By Eric Ham WASHINGTON (MaceNews) – President Biden met with House progressives who then signaled major changes to the legislation to expand the social safety net. Tuition-free community college, a major priority of the White House, will be dropped. Moreover, the child tax credit — another key Democratic priority — would likely be extended for […]
Bundesbank’s Weidmann Makes Surprise Announcement, to Step Down at Year End
— ECB Governing Council to Lose One Of Its Most Hawkish Rate Setters By Laurie Laird LONDON (MaceNews) – Jens Weidmann, president of Germany’s Bundesbank, will relinquish his position at the end of 2021, ridding the European Central Bank of one its most hawkish voices. Weidmann has asked German President Frank-Walter Steinmeier to “dismiss” him […]
BofA Global Research Fund Manager Survey: Increasingly Negative World Growth Outlook Prompt Former Bulls To Retreat in October
By Vicki Schmelzer — Record Underweight in Bonds On Rate Hike Jitters NEW YORK (MaceNews) – World growth expectations fell more markedly in October, prompting formerly bullish global investors to retreat, according to the findings of BofA Global Research’s monthly fund manager survey, released Tuesday. Growth expectations were weighed by fears of higher interest rates, […]
NY Fed’s Williams Opposes Raising FOMC Inflation Target From 2%
–Stresses Need To Anchor Inflation Expectations at 2% By Steven K. Beckner (MaceNews) – New York Federal Reserve Bank President John Williams defended the Fed’s 2% average inflation target Friday, while emphasizing the need to solidify expectations around that rate. Williams, vice chairman of the Fed’s policymaking Federal Open Market Committee, acknowledged that the real […]
MaceNewsViews: Commentary – Senate Republican Leader McConnell Flexes (Political) Muscle Despite Minority Status
By Eric Ham WASHINGTON (MaceNews) – As the clock wound down on the debt ceiling and Democrats were unable or unwilling to break the logjam on their own, Republican Minority Leader, Mitch McConnell, stepped in and saved the nation from going over the financial cliff. The Kentucky senator reminded the country of the clout he […]
MaceNewsViews: President Biden Gets Tough With Corporate America
By Eric Ham WASHINGTON (MaceNews) – President Biden Wednesday met with senior stakeholders from business, labor unions and trade associations. The meeting took place in the Roosevelt Room inside the White House. The meeting was closed to the press. After meeting for more than an hour, the president addressed the public. He made clear he […]
Japan Aug Machine Orders Expectedly Dip After Recent Computer Demand
–Japan Govt Downgrades View: Pickup in Machine Orders Pausing–Cabinet Office Official: Demand for Computers Seen on Firm Trend–Q3 Core Orders Seen Unlikely to Grow 11% Q/Q, As Projected Earlier By Max Sato (MaceNews) – Japanese machinery orders, the key leading indicator of business investment in equipment, unexpectedly slumped in August as demand for computers took […]
Atlanta Fed’s Bostic: Upside Inflation Risks Show Need to Start Tapering
–Sees First Funds Rate Hikes ‘More Than A Year Off’ –Doubts Tapering Will Have Much Economic or Financial Impact –Price Stability ‘Could Be On The Line In Coming Months’ –Persistent Wage-Price Pressures Could ‘Unanchor’ Inflation Expectations By Steven K. Beckner (MaceNews) – Atlanta Federal Reserve Bank President Raphael Bostic sounded somewhat of an alarm about […]