Category: Economy

White House and Other Schedules for Friday, May 6

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, MAY 6, 2022 In the morning, the President will travel to Cincinnati, Ohio. The departure from the South Lawn will be open press and pooled […]

White House and Other Schedules for Thursday, May 5

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, MAY 5, 2022 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed press. The President and the First Lady will […]

FOMC Lifts Funds Rate By 50 Bp; More to Come but Path Remains In Doubt

– Powell Says 50 BP Hikes Will Be “On Table” Next Two FOMC Meetings – 75 BP Hike Not Under Consideration – Will Need to Be ‘Nimble’ Given Uncertain, Changing Outlook – Quick-paced Balance Sheet Reduction To Begin June 1 By Steven K. Beckner (MaceNews) – Federal Reserve policymakers not only continued raising short-term interest […]

Text of Fed Statement on Plans to Reduce Balance Sheet, Starting June 1

Consistent with the Principles for Reducing the Size of the Federal Reserve’s Balance Sheet that were issued in January 2022, all Committee participants agreed to the following plans for significantly reducing the Federal Reserve’s securities holdings. The Committee intends to reduce the Federal Reserve’s securities holdings over time in a predictable manner primarily by adjusting […]

Text of FOMC Policy Announcement May 4, 2022

Although overall economic activity edged down in the first quarter, household spending and business fixed investment remained strong. Job gains have been robust in recent months, and the unemployment rate has declined substantially. Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher energy prices, and broader price pressures. The invasion of […]

ISM: US April Service Sector Growth Slows as Firms Struggle to Find Workers, Supplies

–ISM’s Nieves: Securing Workers Ongoing Issue, Now Spread Across Industries –ISM: Supply Delivery Delays Worsen Again After Slight Improvement in March –ISM: New Orders Index Dips to 14-Month Low; Prices Index Hits Record High By Max Sato (MaceNews) – US service sector growth slowed in April on wide-spread labor shortages after the first uptick in […]

White House and Other Schedules for Wednesday, May 4

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, MAY 4, 2022  In the morning, the President will receive the President’s Daily Brief. This meeting will be closed press. After, the President and the First […]

Bank of Canada Rogers: Need Higher Interest Rates, To Watch How Economy Responds

–Senior Deputy Governor Says BOC ‘Not on Autopilot’ in Rate Actions –Rogers: ‘We Have Tools, Committed to Getting Inflation Back to Target’ By Max Sato (MaceNews) – Interest rates in Canada need to rise further to stave off overheating from a “remarkably fast” recovery from the pandemic-caused slump but policymakers are “not on an autopilot” […]