FED’S MESTER: ‘VERY ACCOMMODATIVE POLICY NEEDED’ WITH FUNDS RATE UNCH. THROUGH END 2022
NEW YORK MaceNews) – Cleveland Federal Reserve President Loretta Mester said monetary policy needs to stay “very accommodative” and she agrees with her colleagues that the federal funds target should remain unchanged through 2022. In remarks for delivery on a webinar, said she and her colleagues agree a recovery is under way beginning in the […]
FED’S POWELL: TO WATCH TO SEE IF CORP BOND BUYS NEEDED
–Don’t Want to Run Through Corporate Bond Market ‘Like an Elephant’ WASHINGTON (MaceNews) – Federal Reserve Chairman Jay Powell Tuesday underlined his question whether government’s coronavirus response will be sufficient, suggesting more will be needed, and he conceded the new “Main St.” lending program’s corporate bond purchases may no longer be as necessary as originally […]
BNK OF AMERICA GLOBAL FUND MANAGER SURVEY SEES CAUTIOUS OPTIMISM
–Fret Any Second COVID-19 Wave –World Stocks Deemed Most ‘Overvalued’ Since 1998 By Vicki Schmelzer NEW YORK (MaceNews) – Global investors polled in June were cautiously optimistic about world growth, but wary that a second wave of COVID-19 could weigh on economic prospects, according to the findings of BofA Global Research’s monthly fund manager survey, […]
DATA FLASH: US MAY RETAIL SALES SURGE BY 17.7% ON REOPENINGS
–Retail Sales Excluding Motor Vehicles Rose 12.4%; Vehicle Sales Surge 44.1%–Industrial Production Rose 1.4%, Motor Vehicle Production Rebounds by 120.8%–NAHB Index Jump To 58 in June From 37 in May, Suggests Stronger Home Building Ahead–Business Inventories Down 1.3% in April, Business Sales Down 14.4% By Kevin Kastner WASHINGTON (MaceNews) – As social distancing eased in […]
GERMANY’S ZEW ECONOMIC SENTIMENT INDEX SHOWS IMPROVED CURRENT CONDITIONS AND OUTLOOK
By Marco Babic ZURICH (MaceNews) – In a sign that the worst might be over for Germany’s economy, both current economic conditions and outlook improved in June, according to the ZEW institute in Mannheim. The Economic Sentiment Economic Index rose to 63.4 in June, improving 12.4 points from May. While current conditions improved by 10.4 […]
FED’S DALY: READY TO ‘PIVOT’ TO STIMULUS WHEN VIRUS CRISIS ENDS
WASHINGTON (MaceNews) – The Federal Reserve’s emergency relief programs will give way to stimulus and a focus on lowering unemployment whenever the coronavirus crisis has ebbed, San Francisco Fed President Mary Daly said Monday. Speaking at a National Press Club-sponsored event and later to reporters, Daly said it would make no sense to focus on […]
FED’S KAPLAN Q&A: DUBIOUS ON YIELD CURVE TARGETING
–Dallas Fed President Says Businesses Face ‘Gut Check’ in August/September NEW YORK (MaceNews) – Dallas Fed President Robert Kaplan said Monday he is dubious about suggestions the Fed target interest rate levels along the US Treasury yield curve as a policy tool. Kaplan, responding to a question during a web appearance, said he would not […]
WHITE HOUSE WATCH COMMENTARY: NECESSITY BRINGS INNOVATION AMID TURMOIL
By Denny Gulino WASHINGTON (MaceNews) – Who would have guessed you can track government spy planes above Washington protests via certain Web sites, or that a bankrupt Hertz can consider issuing stock or that the ubiquity of smartphones would transform the legacy of slavery forever? We’re learning so much as 2020’s second half begins. That […]
DATA PREVIEW: WAS MAY THE TURNING POINT? LET’S FIND OUT
By Kevin Kastner WASHINGTON (MaceNews) – The May U.S. data have been modestly uplifting to this point, specifically the surprise payrolls gain and lower unemployment rate, improved inflation data, and a smaller contraction in manufacturing conditions. None of it came close to making up for the terrible March and April readings, but it’s a start. […]
COVID-19 CRISIS SPEEDS UP USE OF DIGITAL PAYMENTS
–Wider Use Of Central Bank Digital Currencies Explored By Vicki Schmelzer NEW YORK MaceNews) – The coronavirus pandemic has forced world central banks, already struggling to deal with cryptocurrencies, stable coins and other non-traditional monies, to up their game on the use of digital currencies and other new technologies. “COVID-19 has forced an unprecedented experiment in […]