Bank of Canada Keeps Policy Rate at 2.75%, to ‘Proceed Cautiously’ While Watching Both Upside, Downside Inflation Risks from Trade War
–Governor Macklem: To Remain Less Forward-Looking Than Usual ‘Until Situation Is Clearer’–Mackem: Prepared to Act ‘Decisively’ If Information Points Clearly in One Direction–Macklem: Governing Council Discussed Both Holding Rates Steady and Cutting by 25 Basis Points as in March–Senior Deputy Governor Rogers: Some Are More Optimist about Trade Rows Being Resolved but There Is ‘Clear […]
Fed’s Powell: Economy, Labor Market ‘Still Solid’ But Outlook ‘Highly Uncertain’
– Tariffs May Boost Both Inflation, Unemployment; Give Fed ‘Difficult’ Choices – FOMC May Have to Make ‘Difficult Judgment’ in Balancing Inflation, Job Goals – Fed Chief Refrains from Saying FOMC Is In ‘No Hurry’ By Steven K. Beckner (MaceNews) – Federal Reserve Chair Jerome Powell said Wednesday the economy and labor market remain “solid” […]
BofA Global Research Fund Manager Survey: Trade War Jitters Sends Global Growth Expectations To Record Low
— Global Recession Largest ‘Tail Risk’ in 15-year Survey History By Vicki Schmelzer NEW YORK (MaceNews) –Trade war jitters sent global growth expectations to a record low in April, according to BofA Global Research’s monthly fund manager survey, released Wednesday. At the same time, “trade war triggering a global recession” was viewed as the biggest […]
Fed Officials Keeping Monetary Policy Sidelined in Face of Tariff War
– Barkin: Economy ‘In Very Dense Fog’; Fed Must Handle With ‘Judgment’ – Kashkari: Bar for Rate Cuts Has Risen Due to Inflation Concerns – Musalem: Bar for Cutting Rates Higher As Both Inflation, Recession Risks Up – Daly: Fed Must ‘Tread Slowly and Tread Carefully” By Steven K. Beckner (MaceNews) – Federal Reserve officials […]
UPDATE: TARIFFS STATE OF PLAY: AS DUST SETTLES FOR NOW, BEHEMOTHS CHINA AND USA FACE OFF
WASHINGTON (MaceNews) – As U.S stocks rocketed up spectacularly Wednesday after President Trump’s pivot on tariffs, the battle of titans – the USA and China – emerged as the main event for months to come. At an afternoon White House event, President Trump said, “Somebody had to do it,” vs. China. A more skeptical former […]
Fed’s Powell: FOMC Must Wait For Greater ‘Clarity’ Before Changing Policy
– Uncertainty High Amid Trump Policy Changes, But Economy Still ‘In A Good Place’ – Fed Doesn’t Need To Be ‘In A Hurry’ to Lower Rates By Steven K. Beckner (MaceNews) – Federal Reserve Chair Jerome Powell said Friday the Fed has to wait for more “clarity” on the economic effects of the Trump administration’s […]
ISM: US Services Sector Slips in March on Surging Costs amid Trump Trade War, Controversial Massive Federal Spending Cuts, but Clings to Growth
–ISM Services Index at 9-Month Low of 50.8 Vs. 53.5 in February, Below Consensus (53.0)–Employment Subindex Plunge by 7.7 Points Sharpest Since Early Pandemic Phase of April 2020–ISM’s Miller: More Industries Are Concerned About Impact of Tariffs–Miller: Canadian Boycott of US Goods, Services Having Immediate Impact–Miller: Services Sector Shows Some Strength from Overall Viewpoint By […]
US TARIFFS STATE OF PLAY: Pres Trump Imposes Massive Global Tariffs Likely to Cause Widespread USA Price Hikes
WASHINGTON (MaceNews) – Amid much pessimism about severe economic domestic consequences, President Trump Wednesday imposed massive tariffs on several dozen countries including China and the European Union and a blanket 10% levy on all the rest. The Rose Garden announcement shook stock futures into large negatives while interest rates maintained lows last hit in October. […]
US ISM Manufacturing Slips Back into Contraction in March as Firms Sit on Sidelines, Trim Payrolls Ahead of More Trump Tariffs Expected This Week
–ISM Manufacturing Index at 49.0 Vs. 50.3 in February, Below Consensus (49.6)–ISM’s Fiore: Activity ‘Overshadowed’ by US Import Tariffs; So Many Unknowns, More Confusion–Fiore: Still Think Lower New Orders, Higher Inventories, Slower Supply Deliveries Will Clear Up–Fiore: Tariffs Could Prompt Workers Hit by Higher Costs of Living to Demand Wage Hikes, Triggering Wage-Price Cycle By […]
Preview: BOJ March Quarter Tankan to Show Business Sentiment Slightly Down or Flat amid Uncertainty over Trump Tariffs, Elevated Consumer Inflation
By Max Sato (MaceNews) – The Bank of Japan’s quarterly Tankan business survey is forecast to show confidence among manufacturers slipped in the March quarter in the face of stiff tariffs on U.S. imports of metals and vehicles as well as President Trump’s plans to slap “reciprocal tariffs” on imports from global trading partners. China’s […]