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 […]
ST. LOUIS FED’S BULLARD: DON’T ASSUME FOMC WILL CUT AGAIN MARCH 18 – BUT FED WILL MOVE AGAIN IF NEEDED TO COUNTER VIRUS EFFECTS
By Steven K. Beckner(MaceNews) – St. Louis Federal Reserve Bank President James Bullard Wednesday cautioned markets not to assume that the Fed’s policymaking Federal Open Market Committee will cut interest rates again at its March 17-18 meeting. Bullard did not rule out another cut in the federal funds rate on March 18 in a telephone […]
ANALYSIS: UNDER PRESSURE FED APT TO STAY ON EASING COURSE
By Steven K. Beckner (MaceNews) – Whatever one may think of the wisdom of the Federal Reserve’s March 3 interest rate cut, it has embarked on a preemptive easing of credit in response to economic threats posed by the corona virus and seems likely to remain on that course. Not only did the Fed’s policymaking […]
IMF: VIRUS CAUSING ‘GENERALIZED WEAKENING DEMAND’
WASHINGTON (MaceNews) – IMF Managing Director Kristalina Georgieva Wednesday said her institution and the World Bank are mobilizing their resources to coordinate a global response to the corona virus outbreak, with well more than $1 trillion available for a “people first” approach to mitigation. “The disease is spreading quickly with over one third of our […]
CANADA ECHOES FED WITH HALF-POINT RATE CUT
By Gloria Galloway OTTAWA (MaceNews) – Canada has followed the United States by substantially lowering interest rates to buffer the shock of the COVID-9 virus that is reverberating through financial markets around the world. The Bank of Canada Wednesday lowered its target overnight rate by 50 basis points to 1.25%, its largest single rate cut […]
FED’S MESTER: FOMC TO CONSIDER INCOMING DATA AHEAD OF MARCH FOMC MEETING
By Laurie Laird LONDON (MaceNews) – The Federal Reserve will continue to monitor economic data closely ahead of its rate setting meeting March 17-18 according to Cleveland Federal Reserve President Loretta Mester, raising the prospect of another rate cut at that meeting. Addressing a group of economists in London Tuesday night, Mester stressed that members […]
WHITE HOUSE WATCH: STRUGGLING TO GET AHEAD OF MYSTERY CURVE
–Fed Half-Point Rate Cut, G7 Statement Can’t Turn Stocks Positive By Denny Gulino THE WHITE HOUSE (MaceNews) – Tuesday’s next step into the unknown was accompanied by major moves, from the credit markets to the Federal Reserve, and meanwhile the testing kits necessary to gauge the spread of the corona virus are closer to wide […]
STATEMENT FROM FED’S POWELL AT PRESS CONFERENCE AFTER RATE CUT
CHAIR POWELL. Good morning. Earlier today, the Federal Open Market Committeeannounced a 1/2 percentage point reduction in the target range for the federal funds rate, bringingthe range to 1 to 1-1/4 percent. My colleagues and I took this action to help the U.S. economykeep strong in the face of new risks to the economic outlook.The […]