WHITE HOUSE WATCH: A BRIEF MOMENT OF SURREAL NORMALITY
By Denny Gulino THE WHITE HOUSE (MaceNews) – It was Monday – so long ago in the Trump era – and the memory won’t fade even though Tuesday is full of news about fresh transcripts, the quid pro quo now remembered by ex-ambassador Gordon Sondland, the Roger Stone trial’s jury selection, more about Lev.Parnas and […]
FED’S QUARLES HINTS AT PAUSE IN RATE CUTS
By Jerry Kronenberg NEW HAVEN, Conn. (MaceNews) – Federal Reserve Vice Chairman Randal Quarles hinted Friday the central bank’s rate cut this week could be the last one for a while. Quarles said in a speech at Yale University that current monetary policy is “likely to remain appropriate as long as incoming information about the […]
NY FED’S WILLIAMS: ECONOMY IN A GOOD PLACE
By Vicki Schmelzer NEWARK, N.J. (MaceNews) – The U.S. economy is “strong” and in a “good place,” New York Fed President John Williams said Friday. Williams, during an appearance at Rutgers University, expressed optimism about the regional New York-New Jersey economy, and the country as a whole, noting that U.S. job growth was “strong.” On the […]
US JOBS OCT RPT SHOUTS A NEW POSITIVE NARRATIVE WITH UNEXPECTED STRENGTH
–Payrolls +128K; Unemp Rate 3.6%; Wages +3.0% Annual; 2-Mos Revisions +95K –Labor Participation Rate Highest Since August 2013 By Denny Gulino WASHINGTON (MaceNews) – The October jobs report Friday surprised by challenging the scenario of a deepening slowdown with an above-expectations payrolls total of 128,000 despite GM strike effects, a 93,000 positive contribution from two […]
WHITE HOUSE WATCH: PEAK CHINA II, WINTER IS COMING -AND CONGRATS NATS
By Denny Gulino THE WHITE HOUSE (MaceNews) – The Washington Nationals soundly repudiated the business model of the Houston Astros and the result is going to be a rethinking of conventional player-investment wisdom in those fancy offices of the owners in both leagues. A bold statement, perhaps, but well grounded. And so much more enlightening […]
‘MATERIAL REASSESSMENT’ NECESSARY TO TRIGGER MORE RATE CUTS
By Denny Gulino WASHINGTON (MaceNews) – After lowering the fed funds rate by another quarter point, Federal Reserve Chairman Jerome Powell Wednesday suggested the “tail risks” of the U.S.-China trade right and Brexit seem to have diminished, a hint that still more accommodation might need a new and unexpected trigger. Hints were mostly all there […]
TWO FOMC DISSENTERS WANTED NO CUT; NO HINTS RE FUTURE
WASHINGTON (MaceNews) – The Federal Open Market Committee’s lean policy statement had no explicit hints about whether there will be another cut in December following its latest quarter point trim Wednesday. Two dissenters again wanted no rate cut. The FOMC statement follows, with boldfaced emphasis added: Information received since the Federal Open Market Committee met […]
US TSY NOT READY TO ADDRESS ANY FED-CAUSED T-BILL ‘SCARCITY,” MM ‘VOLATILITY’
— ‘Year-End Financing Rates Are Expected to be Volatile Again’ –Changes In T-Bill Issuance May Not Wait Until Next Refunding By Denny Gulino THE TSY DEPT (MaceNews) – The Federal Reserve’s $60 billion-a-month T-bill purchase program intended to stabilize the money markets and prevent liquidity crunches may not prevent more unwelcome volatility at the end […]
BANK OF CANADA HOLDS INTEREST RATE TARGET AT 1.75%
By Gordon Isfeld OTTAWA (MaceNews) – The Canadian economy appears to be settling into a slower-but-steadier pattern of growth, with inflation remaining relatively unchanged and policymakers maintaining their interest rate target at 1.75%. “A growing number of countries have responded with monetary and other policy measures to support their economies,” the Bank of Canada said Wednesday in its […]
BANK OF CANADA LEAVES RATES UNCHANGED, EYES GLOBAL SLOWING
By Gordon Isfeld OTTAWA (MaceNews) – The Bank of Canada kept its interest rate target unchanged at 1.75%, as expected, but is watching closely as global economic growth slows, the bank said Wednesday. “A growing number of countries have responded with monetary and other policy measures to support their economies,” the Bank of Canada said in its quarterly […]