DALLAS FED’S KAPLAN: FED WORKING ON WAYS TO FIX REPO LIQUIDITY NEEDS
By Jerry Kronenberg NEW YORK (MaceNews) – Dallas Federal Reserve President Robert Kaplan said Wednesday that the central bank has begun closed-door discussions on how to permanently solve the repo market’s liquidity crisis without endlessly intervening and expanding the Fed’s already large balance sheet. “I believe very strongly that we’re going to need to find […]
FED’S BEIGE BK: THREE REGIONS ‘SUB-PAR,’ TWO ‘ABOVE AVERAGE’
–‘Modestly Favorable’ Outlook; Labor Markets ‘Remained Tight’ WASHINGTON (MaceNews) – The Federal Reserve’s Beige Book survey of economic conditions released Wednesday found some above- and below-average activity in a still “modestly expanding” economy with a tight labor market accompanied by only modest wage increases – overall not appreciably changed from the prior six weeks. The […]
FED’S HARKER: POLICY ON HOLD; STABILITY CONCERNS ARGUE AGAINST CUTS
NEW YORK (MaceNews) – Philadelphia Fed President Patrick Harker Wednesday repeated the familiar line that policy is on hold and is likely to remain so, barring a “substantial change” in the outlook, and added that financial stability concerns are another factor arguing against more policy accommodation. “For now we are on hold,” Harker said in […]
WITH ‘PHASE ONE’ A DONE DEAL, CHINA WATCHED FOR FOLLOW THRU
–President Trump Confirms Tariffs Stay Until Phase Two ‘Finish;’ No Phase Three By Denny Gulino THE WHITE HOUSE (MaceNews) – The “Phase One” agreement was ceremoneously signed Wednesday afternoon, signaling the start of a long period of wary watching and measuring as both China and the U.S. decide if the deal is a new beginning […]
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WHITE HOUSE WATCH: CHINA PACT VIES WITH IMPEACHMENT TRIAL TRIGGER
–Mnuchin: “These tariffs will stay in place until there’s a Phase Two,” By Denny Gulino THE WHITE HOUSE (MaceNews) – The gray overcast above the executive mansion Tuesday is going to be followed by some sunshine Wednesday just as the Trump administration’s biggest economic achievement so far, the ceremonious signing of the “Phase One” pact […]
ANALYSIS: US DEC CPI TEMPORY ITEMS SURGE; LONG-TERMERS LIKE SHELTER REGRESS
–2019 CPI and Its Core Rate +2.3% –PCE and CPI Inflation Converging Downwards? By Denny Gulino WASHINGTON (MaceNews) – Consumer inflation momentum switched drivers at the end of last year to short-term influences like gasoline while the longer-term factors like shelter regressed, raising the question as to how much the CPI continues to outpace PCE […]
US REMOVES CHINA’S DESIGNATION OF CURRENCY MANIPULATOR BUT WATCHING CLOSELY
By Denny Gulino THE TREASURY DEPARTMENT (MaceNews) – The designation of China as a currency manipulator, imposed in August on President Trump’s order but not backed up by the IMF, was removed late Monday as expected both because of the imminent signing of a “Phase One” trade pact and because Fox News earlier broke the […]
US TSY: CORP TAX REVENUE SURGE CONTINUES; DEC DEFICIT -$13.3B
WASHINGTON (MaceNews) – The official U.S. budget deficit in December was $13.3 billion and after adjustment for some calendar quirks affecting benefit payments was $40 billion, both close to last year’s totals, and striking was how the surge in corporate tax revenues that began in June is continuing, the Treasury Department reported Monday. For the […]
BOSTON FED’S ROSENGREN FLAGS UPSIDE INFLATION, FINANCIAL STABILITY RISKS
NEW YORK (MaceNews) – Fed policy-makers see a benign economic outlook but they should remain alert to upside inflation and financial stability risks posed by prolonged low unemployment and low interest rates, Boston Fed President Eric Rosengren said Monday. Rosengren, who opposed the Fed’s three rate cuts in 2019 along with Kansas City Fed President […]