WHITE HOUSE WATCH: WORSENING VIRUS NEWS GETS FILTERED THROUGH PENCE
–Extreme Isolation of Patients Will End as Containment Moves to ‘Mitigation’ By Denny Gulino THE WHITE HOUSE (MaceNews) – The fourth and worst day of U.S. stocks losses this week toggled all remaining alarm bells on the Wall Streets of the world, lifting expectations for a Fed rate cut in three weeks above 60% while […]
US REVISED 4Q GDP BEA TECH NOTE; 3Q COMP DOWN
WASHINGTON (MaceNews) – The following is the text of the Bureau of Economic Analysis technical note on the updates to source material underlying Thursday’s first revision of fourth quarter GDP, unchanged at 2.1%. Sources of Revision to Real GDP Real GDP increased 2.1percent (annual rate) in the fourth quarter of 2019, the same as in […]
PRES TRUMP: ‘NOT INEVITABLE’ THAT CORONA VIRUS TO GET WORSE IN US BUT MAY
–‘Incompetent’ Speaker Pelosi Trying to Create a ‘Panic’ –CDC Official: ‘We Do Expect More Cases’ –HHS’s Azar: ‘The Degree of Risk Has the Potential to Change Quickly’ By Denny Gulino THE WHITE HOUSE (MaceNews) – President Trump Wednesday evening held a rare inside-the-briefing-room news conference to urge Americans to wash their hands and “stay clean” […]
FED’S CLARIDA SKIPS ANY COMFORTING WORDS; ‘LOOKING’ AT DATA
–‘This is Obviously a Complex and Rapidly Evolving Situation’ By Denny Gulino WASHINGTON (MaceNews) – The vice chair of the Federal Reserve Board, answering questions at the NABE’s economic policy conference Tuesday, stoutly resisted efforts to draw him out on the corona virus or the 2,000 point drop in the Dow industrials over two days. […]
FED’S MESTER: BUSINESS CONTACTS SAY VIRUS NOT YET CUTTING US DEMAND
–Virus Still a Supply Issue; Too Early to Assess Ultimate Effect –Can’t ‘Extrapolate’ One Bad Day in the Markets into the Future By Denny Gulino WASHINGTON (MaceNews) – Cleveland Federal Reserve President Loretta Mester Monday told reporters at the annual NABE economic policy conference that business contacts, whose views become more important with the lack […]
BOE’S HALDANE DOWNPLAYS WORRIES OVER DEBT LEVELS, ASSET BUBBLES
LONDON (MaceNews) – The Bank of England’s chief economist has downplayed concerns that years of low interest rates have allowed the buildup of unsustainable debt levels across the developed world. “I don’t see balance sheets being overstretched … I see a great deal of caution” among companies and households, said Andy Haldane, addressing a conference organized […]
EX-FED’S FERGUSON: NOT CLEAR A QUARTER-POINT RATE CUT WOULD HAVE MUCH EFFECT
–Excerpts Of Gaggle with Reporters Prior to NABE Speech WASHINGTON (MaceNews) – The following are excerpts from a Mace News rush transcript of the answers to reporters’ questions from TIAA chief and ex-Federal Reserve Vice Chairman Roger Ferguson Monday at the NABE Economic Policy Conference: “What’s my advice to the Fed? My advice to the […]
FED’S CLARIDA/CNBC: STILL TOO EARLY TO ASSESS CORONA VIRUS EFFECT
–Housing ‘Strong,’ Trade Uncertainty Less WASHINGTON (MaceNews) – The following are excerpts from the Mace News rough transcript of the CNBC interview Thursday with Federal Reserve Vice Chair Richard Clarida, archived in its entirety on cnbc.com: “Claims are an important indicator of the state of the labor market and it reaffirms what what I just […]
RICHMOND FED’S BARKIN: FED SHOULDN’T BE TOO QUICK TO RESPOND TO CORONAVIRUS
By Steven K. Beckner DURHAM, N.C. (MaceNews) – Richmond Federal Reserve Bank President Tom Barkin was reluctant Wednesday evening to conclude that the coronavirus will have a dire impact on the U.S. economy, but suggested the Fed should not be too hasty to ease credit even if the disease does turn out to have a bigger […]
FOMC MINUTES EXCERPT: RISKS ‘SOMEWHAT MORE FAVORABLE’
WASHINGTON (MaceNews) – The Federal Open Market Committee minutes of its January 28-29 meeting Wednesday added little if anything to the policy statement, the chairman’s news conference and conventional wisdom, finding efforts to replenish reserve balances adequate and the balance of risks somewhat more favorable. The following excerpt, of the views of Fed Board and […]