DATA FLASH: US INITIAL CLAIMS SLOW FURTHER; MAY PPI ABOVE EXPECTED
–Initial Claims -355,000 to 1.542 Mln; 40.4 Mln Unadj Total Under COVID–May PPI Up 0.4%, But Down 0.1% Ex Food and Energy; Gasoline +43.9%. By Kevin Kastner WASHINGTON (MaceNews) – The U.S. jobless claims data released earlier Thursday pointed to continued improvement for both new filings and existing filings, but the levels of both remain extremely […]
FED’S POWELL: DOING ALL WE CAN; WILL IT BE ENOUGH?
–‘Dot Plot’ Shows Assumptions of No Rate Hikes Through 2022 –To Sustain Pace of Treasuries, MBS Purchases By Denny Gulino WASHINGTON (MaceNews) – Federal Reserve Chair Jay Powell Wednesday offered reassurance policymakers are not even “thinking about thinking” about raising rates and shared his worries about possible long-term post-crisis unemployment. Answering questions after the Federal […]
FOMC POLICY STATEMENT JUNE 10, 2020
The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. The coronavirus outbreak is causing tremendous human and economic hardship across the United States and around the world. The virus and the measures taken to […]
ECB’S SCHNABEL HINTS AT FURTHER GEOGRAPHIC TARGETING OF PEPP PURCHASES
— ECB to Deviate from Capital Key For Countries Facing ‘Severe Risks of Fragmentation’ By Laurie Laird LONDON (MaceNews) – The European Central Bank will continue to bend its rules on the geographic allocation of emergency sovereign bond purchases, deviating from its capital key to support nations in financial distress. “We raise the share of […]
DATA FLASH: US MAY CPI FALLS 0.1% BEFORE JUNE DEMAND PICKUP
–Core Prices Also Down 0.1%; Ex. Only Energy, CPI Up 0.1%.–Energy Prices Again Down Sharply; Foods Prices Rise on Food at Home–Owners’ Equivalent Rents Up 0.3%, Lodging Away from Home Down 1.5% By Kevin Kastner WASHINGTON (MaceNews) – U.S. consumer prices were below the flat reading expected, as energy prices declined further, but demand is […]
BOE’S CUNLIFFE CONFIRMS NEGATIVE UK RATES REMAIN UNDER CONSIDERATION
By Laurie Laird LONDON (MaceNews) – The Bank of England is still considering the efficacy of sub-zero interest rates as it battles the economic shock of the coronavirus, a leading member of the bank’s rate-setting body said Tuesday. “Negative interest rates is one possible tool to support demand going forward,” said Sir Jon Cunliffe, deputy […]
ECB’S SCHNABEL DOWNPLAYS NEAR-TERM EUROZONE INTEREST RATE CUT
— Sheds Little Light on Bank’s Emergency Asset Purchase Allocation By Laurie Laird LONDON (MaceNews) – The European Central Bank does not believe the stricken eurozone economy now requires further interest rate cuts, a member of the bank’s rate-setting body said Tuesday. “Currently, we consider asset purchases to be a more effective and efficient tool” […]
DATA PREVIEW: PROTESTS COMPLICATE FOMC STATEMENT AMID RECOVERY
By Kevin Kastner WASHINGTON (MaceNews) – After the May employment report showed slight improvement after the overwhelmingly negative April report, the attention in the week ahead turns to the monthly U.S. inflation reports and Wednesday’s FOMC meeting, as well as the first look at June consumer confidence. The FOMC meets Tuesday and Wednesday at a […]
DATA FLASH: US MAY PAYROLLS RISE BY 2.5 MLN, UNEMPLOYMENT RATE 13.3%
–Employ Data Still Show Considerable COVID Impact Even as Data Turns Up–Food Services, Retail, Medical Jobs Lead Gain; Hourly Earnings -1.0% By Kevin Kastner WASHINGTON (MaceNews) – The May employment report showed further impact of the COVID-19 shutdown, but there was no question that the surprisingly positive data point to a turning point after […]
USTR LIGHTHIZER CASTS CHINA RELATIONSHIP IN ROSY HUES
–Doing OK in Adherence to Phase 1 Commitments –China Pullback in Ag Purchases ‘Not True.’ NEW YORK (MaceNews) – President Trump’s top trade negotiator Thursday cast U.S.-China relations, at least in his sphere, in unexpectedly positive terms and called reports of a setback in purchases of U.S. soybeans perhaps the result of “disinformation.” U.S. Trade […]