Category: Economy

Analysis: Fed Officials Shift Messaging as Markets Swing

By Steven K. Beckner (MaceNews) – After the Federal Reserve’s policymaking Federal Open Market Committee raised short-term interest rates for a fourth straight meeting on July 27, Chairman Jerome Powell said that, henceforth, he and the FOMC intended to forego further “forward guidance” on the probable pace of rate hikes. Instead, he said, they would go “meeting by meeting” and assess the incoming data before deciding what the […]

White House and Other Schedules for Friday, Aug 5

WASHINGTON (MaceNews) – The following are Friday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as US data and Federal Reserve events:    DAILY GUIDANCE AND PRESS SCHEDULE FORFRIDAY, AUGUST 5, 2022 In the morning, the President will receive the President’s Daily Brief virtually. This meeting will be closed press. In […]

Japan June Household Spending Rebounds on Traveling, Dining Out Under Eased Covid Rules

–April-June Spending Up, Indicating Q2 GDP Rebound led by Consumption–Real Household Income Falls For 4th Straight Month on Rising Cost of Living By Max Sato (MaceNews) – Japan’s real household spending posted the first year-on-year rise in four months in June after falling unexpectedly in May as pent-up demand for eating out and traveling under […]

Bank of England Lifts Rates by 50 Basis Points Despite Looming Recession

–Governor Andrew Bailey Vows to Tame Inflation Despite Economic Cost By Laurie Laird LONDON (MaceNews) – The Bank of England lifted its benchmark rate by 50 basis points on Thursday – the biggest rise in 27 years – despite warning of recession later this year. That takes the Bank Rate to 1.75%, the highest since […]

White House and Other Schedules for Thursday, Aug 4

WASHINGTON (MaceNews) – The following are Thursday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as US data and Federal Reserve events:    DAILY GUIDANCE AND PRESS SCHEDULE FORTHURSDAY, AUGUST 4, 2022 In the morning, the President will receive the President’s Daily Brief virtually. This meeting will be closed press. In the […]

Fed’s Barkin Asserts Fed Commitment To Lowering Inflation Even It Means Recession

Fed Will ‘Do What It Takes’ By Steven K. Beckner (MaceNews) – Richmond Federal Reserve Bank President Thomas Barkin said Wednesday the Fed is determined to beat down inflation – even it means recession. Barkin gave no indications of how much more monetary tightening he thinks will be needed to bring inflation down to the […]

UPDATE-ISM: US July Service Sector Growth Picks Up on New Orders Despite Labor Shortages, High Costs 

–Price Index Falls for Third Month; ‘Inflation is Peaking’–ISM’s Nieves: Fed Not Overtightening, Market Reaction Favorable to Latest Hike–ISM’s Nieves: Services Sector Expects Continued Growth in 2022 on Pent-Up Demand–ISM: Supply Chain Constraints Keeping Firms from Replenishing Inventories–ISM: Employment Remains in Contraction Mainly Due to Limited Labor Pool By Max Sato (MaceNews) – U.S. service […]

White House and Other Schedules for Wednesday, Aug 3

WASHINGTON (MaceNews) – The following are Wednesday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as US data and Federal Reserve events:    DAILY GUIDANCE AND PRESS SCHEDULE FORWEDNESDAY, AUGUST 3, 2022 In the morning, the President will receive the President’s Daily Brief virtually. This meeting will be closed press. In the […]

White House and Other Schedules for Tuesday, Aug 2

WASHINGTON (MaceNews) – The following are Tuesday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as US data and Federal Reserve events:    DAILY GUIDANCE AND PRESS SCHEDULE FORTUESDAY, AUGUST 2, 2022In the morning, the President will receive the President’s Daily Brief virtually. This meeting will be closed press. In the afternoon, […]