BOE DEFENDS FORECASTS AS AGENTS QUERY OPTIMISTIC ASSUMPTIONS
By Laurie Laird LONDON (MaceNews) – Top Bank of England officials Friday reiterated the downside risks to forecasts of a smart economic rebound under questioning from the BoE’s regional representatives about the Bank’s baseline forecasting assumptions. The central forecast released Thursday “is sensible,” albeit with “very substantial” downside risk, said Governor Andrew Bailey, addressing a […]
DATA FLASH: US JULY PAYROLLS RISE BY 1.76 MLN, UNEMPLOYMENT RATE 10.2%
-COVID-Hit Sectors Lead Gain; Hourly Earnings Up 0.2%, Up 4.8% Year/Year By Kevin Kastner WASHINGTON (MaceNews) – The July employment report reflected continued improvement in the economy, but the rate at which the U.S. is digging out the hole it fell into in March and April clearly slowed. That recovery is likely to be hindered […]
FRIDAY WHITE HOUSE SCHEDULE
WASHINGTON (MaceNews) – The following is Friday’s public White House schedule: DAILY GUIDANCE AND PRESS SCHEDULE FORFRIDAY, AUGUST 7, 2020 EDT 10:00AM Out-of-Town Pool Call Time THE PRESIDENT has no public events scheduled. […]
STATUS CHECK: HOLD HANDS AND REPEAT: YES, THERE WILL BE VIRUS RELIEF LEGISLATION
WASHINGTON (MaceNews) – The following is Thursday’s status check of developments in the U.S. that can influence economic, health and political outcomes: Now at the top of the agenda, the negotiations that went another three hours, breaking up at a late hour in House Speaker Pelosi’s office on that legislation restoring some kind of enhanced […]
DATA FLASH: US INITIAL CLAIMS DECLINE, BUT OUTLOOK REMAINS UNCLEAR
––Initial Claims -249,000 to 1.186 Mln, Lowest Under COVID But Still Brisk–-Challenger Reports Layoffs Jump in July on COVID-19 Resurgence By Kevin Kastner WASHINGTON (MaceNews) – As Congress debates the fate of the extended jobless claims program, initial claims fell by 249,000 in the August 1 week to a level of 1.186 million, well below the […]
BOE HOLDS POLICY, KEEPS SUB-ZERO RATES UNDER REVIEW DESPITE CONSUMER RECOVERY
— Bank predicts 18% gain in Q3 GDP By Laurie Laird LONDON (MaceNews) – The Bank of England maintained its current policy stance at its latest rate setting meeting, but admitted that negative interest rates remain under review, despite forecasting a sharp economic rebound in the third quarter. Bank forecasters predict an 18% surge in […]
THURSDAY WHITE HOUSE SCHEDULE
WASHINGTON (MaceNews) – The following is Thursday’s public White House schedule: DAILY GUIDANCE AND PRESS SCHEDULE FORTHURSDAY, AUGUST 6, 2020 EDT 9:00AM In-House Pool Call Time 10:30AM Out-of-Town Pool Call Time 11:35AM THE PRESIDENT departs the White House en route to Joint Base Andrews South Lawn In-House Pool 11:45AM THE PRESIDENT arrives at Joint Base Andrews Joint […]
STATUS CHECK: THE IN-BETWEEN WORLD OF SLOWDOWN-REBOUND
WASHINGTON (MaceNews) – The following is Wednesday’s status check of developments in the U.S. that can influence economic, health and political outcomes: · Another day in that indeterminate area between slowdown and rebound, between the alternate universes with President Trump in his evening briefing in his world, the one in which the virus is being controlled, […]
FED’S MESTER: HIGH-FREQUENCY DATA SUGGEST ECONOMY SLOWED WITH UPTICK IN VIRUS CASES
NEW YORK (MaceNews) – High-frequency economic data suggest the economy slowed again in June in response to an uptick in the number of virus cases, Cleveland Fed President Loretta Mester said Wednesday. “In late June, virus cases in many parts of the country began rising again and, in response, some states have hit the pause […]
TBAC CHANGES TACK TO RECOMMEND BIGGER INCREASES IN LONGER MATURITIES – EXCERPT
WASHINGTON (MaceNews) – The private-sector Treasury Borrowing Advisory Committee’s recommendations to the U.S. Treasury, in preparation for Wednesday’s quarterly refinancing announcement, now favor bigger issuance increases in longer maturities. The following is an excerpt from the TBAC report: The Committee discussed the elevated cash balance that Treasury has held in recent months and projects to […]