Category: Economy

FED OFFICIALS: MON. POL. HAS SUPPORTING ROLE TO PLAY IN BATTLE AGAINST VIRUS

By Vicki Schmelzer NEW YORK (MaceNews) – Public health authorities must take the lead in addressing the coronavirus epidemic, though monetary policy has a role to play, Federal Reserve officials said Friday. Speaking in response to a question about the virus during a series of panel discussions, Chicago Fed President Charles Evans said, “What you described […]

US JOBS RPT SHOWS EXCEPTIONAL STRENGTH ENTERING VIRUS CRISIS

WASHINGTON (MaceNews) – February’s 273,000 payrolls count as of 24 days ago, before the intensification of the corona virus scare, was not entirely irrelevant even in the context of crisis, showing the strong hiring and income additions keep reinforcing the base strength of a U.S. economy increasingly challenged by the anticipation of severe destruction of […]

EU’S HOGAN TO PROPOSE RESOLUTION TO AIRBUS-BOEING DISPUTE ON FRIDAY

— EU Trade Commissioner Also Sees Progress in Removing US-EU Agricultural Barriers By Laurie Laird DUBLIN (Mace News) – The European Union will offer a resolution to the bitter dispute between the EU and the U.S. over subsidies to aircraft manufacturers as soon as Friday, according to the EU Trade Commissioner, Philip Hogan. Addressing journalists […]

NY FED’S WILLIAMS: WILL USE TOOLS TO SUPPORT ECONOMY AS APPROPRIATE

NEW YORK (MaceNews) – The Federal Reserve is watching closely as the coronavirus situation unfolds, and the central bank is ready to use its tools as needed to support the economy, John Williams, president of the Federal Reserve Bank of New York said Thursday. Williams said the Fed’s 50 basis point rate cut this week […]

DALLAS FED’S KAPLAN: ‘WOULDN’T PRESUME’ WHAT FED WILL DO FROM HERE

–As events related to virus fluid, will “take it one day at a time to see how events unfold” — Fed cut rates prior to FOMC meeting “because 2 weeks is a long time in this situation” — Fed tools also include buying along Treasury curve, allowing banks to exercise forbearance By Suzanne Cosgrove CHICAGO […]

BOE’S CARNEY VOWS ‘POWERFUL’ INTERNATIONAL RESPONSE TO CORONA SLOWDOWN

— Refuses to be Drawn on Prospects of Emergency Rate Cut in the UK By Laurie Laird LONDON (Mace News) – Outgoing Bank of England Governor Mark Carney predicted “powerful” measures from policy makers across the globe in response the economic slowdown posed by the international spread of the corona virus. But the UK’s top […]

WHITE HOUSE WATCH: IS IT FINALLY TIME TO BUY THE … ABYSS?

By Denny Gulino THE WHITE HOUSE (MaceNews) – Judging by all the talking heads on TV, the chatter in some news rooms, some key Twitter feeds, Thursday was a buckle-the-seatbelts kind of day when realization spread that there will be a pandemic that reaches the U.S.  causing many, many deaths, that stocks may still not […]

BANK OF CANADA’S POLOZ: RATE CUT AIMED AT BOLSTERING CONFIDENCE

By Gloria Galloway TORONTO (MaceNews) – The Bank of Canada governor says the decision this week to slash interest rates amid the spread of a new coronavirus was aimed at bolstering consumer confidence and maintaining stability in financial markets and the housing sector. The virus COVID-19 is combining with other factors to create a Canadian […]

WHITE HOUSE WATCH: ANOTHER CRUISE SHIP, ANOTHER FATALITY, ANOTHER DAY OF UNKNOWABLES

By Denny Gulino THE WHITE HOUSE (MaceNews) – Facing weeks, months, a year or more of worsening virus news until a vaccine is ready, U.S officials told their White House audience of reporters Wednesday that, “Sadly, we received word today another American passed away.” Actually there were two more fatalities, California’s first and Washington State’s […]