IEA: DOUR ENERGY DEMAND OUTLOOK, REBOUND HINGES ON LOCKDOWN LENGTH
WASHINGTON (MaceNews) – Global energy demand will drop by 6% in 2020 – far outstripping the decline witnessed after the 2008 global financial crisis, and a rebound will be heavily-dependent on how long measures to contain the coronavirus pandemic remain in place, the International Energy Agency said Thursday. The group’s 2020 Global Energy Review said […]
WHITE HOUSE WATCH COMMENTARY: STATES BLAST AHEAD TO ‘PHASE ZERO’
By Denny Gulino WASHINGTON (MaceNews) – At last, just one more day of the infernal White House guidelines before they “fade out” and the new guidelines for reopening take over, the ones lots of states are already ignoring. Yes, 18 or 19 states are still sticking with strict stay-at-home orders but they’ll come along soon. […]
FOMC, CHAIR POWELL HOLDING ON TIGHT, ALL IN FOR DURATION
–‘Not Going To Run Out of Money’ –Time to Use the ‘Great Fiscal Power’ Of the Country By Denny Gulino WASHINGTON (MaceNews) – The Federal Open Market Committee, echoed by Federal Reserve Chair Jay Powell, Wednesday signaled only firm determination to fight the damage from the economic shutdown, whatever it takes, reassuring the markets, Wall […]
FOMC POLICY STATEMENT – ‘COMMITTED TO USING FULL RANGE OF TOOLS’
Following is the text of the FOMC policy statement issued on April 29: 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 […]
DATA FLASH: US 1ST QTR GDP CONTRACTS BY 4.8%; PCE PLUNGES ON SOCIAL DISTANCING
–Business Investment Hit by COVID Impact, Residential Investment Soared –Imports -15.3%; Price Index +1.3% By Kevin Kastner WASHINGTON (MaceNews) – The U.S. economy contracted in the first quarter, as growth in January and February was more than wiped out by business shutdowns late in March, a trend that will likely carry over into the second […]
WHITE HOUSE WATCH COMMENTARY: STRUCTURAL CHANGE NOT ALWAYS INTENTIONAL
By Denny Gulino WASHINGTON (MaceNews) – Huge disruptions, pandemics and wars, can cause fundamental changes down the line that were not anticipated and which were hard to recognize at the time. Which brings us to the Federal Reserve in this time of crisis. Wednesday afternoon Chairman Jerome Powell will be explaining to the world the […]
DATA FLASH: US APRIL CONFIDENCE FELL FURTHER, BUT EXPECTATIONS IMPROVE
By Kevin Kastner WASHINGTON (MaceNews) – The Conference Board’s U.S. consumer confidence index Tuesday fell to a reading of 86.9 in April from a downward revised 118.8 reading in March, as business and employment conditions deteriorated rapidly due to the COVID-19 shutdown. And while the assessment of current conditions posted their largest one-month decline in […]
WHITE HOUSE WATCH COMMENTARY: VIRUS TESTING FINALLY REACHES ‘BLUEPRINT’ STAGE
By Denny Gulino WASHINGTON (MaceNews) – Even as the stock market and the White House look for better times ahead and soon, corona virus risks for older Americans seem to be increasing. By the end Thursday of a single month in which more than 50,000 Americans have died already, the total will have topped 60,000. […]
BUSINESS ECONOMISTS GRAPPLE WITH OUTLOOK, TRY TO CATCH UP WITH DETERIORATION
WASHINGTON (MaceNews) – The National Association for Business Economics Monday published its latest survey of business conditions and 107 of its members concluded that the outlook has been clouded so much by the pandemic that there are few definitive conclusions at this early stage. The NABE’s averaged survey results showed a severe economic dislocation yet […]
WHITE HOUSE WATCH COMMENTARY: JUNGLE DRUMS IN THE DISTANCE SOUND LIKE TROUBLE
By Denny Gulino WASHINGTON (MaceNews) – You can feel the rumble of distant war drums even before you can hear them, in the nation’s capital of all places, as the Trump administration faces a renewed wave of criticism – just as it might, finally, be least deserved. “Might” could be a leap, because there is […]