FED'S KAPLAN: RATES ON HOLD IN 2020
NEW YORK (MaceNews) – Dallas Fed President Robert Kaplan, a voting member of the Federal Open Market Committee in 2020, Tuesday said interest rates are fine where they are and are likely to remain on hold next year. “I think the appropriate path of policy is to stay where we are,” Kaplan said during an […]
WHITE HOUSE WATCH: DOES DÉTENTE WITH CHINA CHANGE EVERYTHING?
By Denny Gulino THE WHITE HOUSE (MaceNews) – The Phase One trade agreement with China is readied for signing, Sunday’s additional tariffs are scrapped, some existing tariffs are set to be trimmed and the Dow closes up a measly 3.3 points? Wasn’t the U.S.-China trade battle the most market-sensitive development of all, just like Federal […]
BANK OF CANADA’S POLOZ: LOW INTEREST RATES LIKELY TO PERSIST
By Adam Bernards TORONTO (MaceNews) – Bank of Canada Governor Stephen Poloz said interest rates in Canada and around the globe are likely to remain low for the foreseeable future as trade uncertainty and structural factors continue to cast a shadow on otherwise positive economic trends. “On balance, it looks like the global economy is […]
FED’S POWELL: TO INCREASE RATES, WAGES WOULD NEED TO TAKE OFF
–FOMC Keeps Rates Unchanged; ‘Dot Plot’ Sees No Rate Changes for 2 Years By Denny Gulino WASHINGTON (MaceNews) – Federal Reserve Chairman Jerome Powell Wednesday said he would have to see wage growth take off, accelerating much faster than the current pace that is throttled slower by low productivity and other factors. What will it […]
FOMC STATEMENT: NO RATE CHANGE; EXPORTS, BIZ INVESTMENT ‘WEAK’
WASHINGTON (MaceNews) – The Federal Open Market Committee’s decision Wednesday was entirely as expected, with no rate change and a “dot plot” that anticipated no rate change next year either. The policy statement follows, with boldface emphasis added: Information received since the Federal Open Market Committee met in October indicates that the labor market remains […]
ANALYSIS: IN THE TUG OF WAR OF PRICES, SHELTER ALWAYS WINS IN THE END
By Denny Gulino WASHINGTON (MaceNews) – The November Consumer Price Index report, largely dismissed Wednesday as a ho-hum confirmation of price pressure stasis, nevertheless contained some hints as to what may be ahead, a slowly gathering upwelling of costs concentrated in housing and transport. The annualized core items index rose 2.3% through November, a duplicate […]
WHITE HOUSE WATCH: TRUMP VICTORY ON NEW NAFTA PENDING
By Denny Gulino THE WHITE HOUSE (MaceNews) – The US-Mexico-Canada trade deal, a major achievement of the Trump administration, is much closer to starting the 90-day countdown to final ratification among the three countries, having finally overcome political, labor and technical hurdles. It is the biggest accomplishment for the Trump White House so far and, […]
WASHINGTON WATCH: YEAR-END BARNACLES ACCUMULATE ON SHIP OF STATE
By Denny Gulino THE WHITE HOUSE (MaceNews) – As time suddenly is about to run out for 2019, government funding, USMCA, the China trade deal and the expected Senate impeachment trial look like calendar items for 2020. And with a jobs report like the one published earlier Friday, who cares? For once stock markets had […]
NOV JOBS RPT BLOWOUT RESETS ECONOMIC NARRATIVE – AGAIN
–Payrolls +266,000; Sept/Oct Revised +41K; Unemp Rate 3.5%; Annual Wages +3.1% By Denny Gulino WASHINGTON (MaceNews) – The November job report’s 266,000 payrolls surge Friday exceeded all expectations even without counting the end of the GM strike, challenging the view that the long and somewhat subdued economic expansion should be showing signs of exhaustion. The […]
US TSY, OTHERS, SANCTION RUSSIA BANK MALWARE OPERATION
WASHINGTON (MaceNews) – The U.S. Treasury Department and the finance ministries of the UK, Canada and several other countries, Thursday sanctioned a Russian malware operation that it says has cost 300 financial institutions and their customers hundreds of millions of dollars. In a conference call with reporters, senior Treasury officials described the operation as primarily […]