Fed’s Beige Bk Hit By Shutdown, China, Weather
WASHINGTON (MaceNews) – The Federal Reserve’s latest Beige Book survey of the nation’s economic activity debuted a new word Wednesday, “slight,” as it saw an economy hit by the government shutdown, China’s retaliatory tariffs and harsh winter weather with only “slight to moderate” growth – and Philadelphia and St. Louis districts “flat.” The winter setback […]
BANK OF CANADA HOLDS KEY RATE AT 1.75%
By Gordon Isfeld OTTAWA (MaceNews) – Lower than expected economic growth in Canada, combined with signs of weaker expansion in the United States, will likely keep interest rates on hold in this country for the near future, the Bank of Canada said Wednesday. The Bank left its trendsetting lending level on hold at 1.75%. Recent […]
FED’S POWELL WOULDN’T TOUCH YELLEN’S VIEW OF TRUMP
–Comparative Inefficiency of Health Care Delivery Main Driver of US Debt –Patiently Allowing the Data and Balance of Risks to Evolve By Denny Gulino THE CAPITOL (MaceNews) – Federal Reserve Chairman Jerome Powell’s low-voltage appearance Tuesday before the Senate Banking Committee had one exchange that momentarily had everyone in the hearing room at least figuratively […]
BOC’S POLOZ: PATH FROM STIMULATIVE TO NEUTRAL UNCERTAIN
–Watching Data, To Use Judgment By Gordon Isfeld OTTAWA (MaceNews) – The chief architect of Canada’s monetary policy Thursday cautioned that there are limits to what the central bank can do to ensure stability and economic growth – without fanning inflation. “We have learned over time just how powerful monetary policy can be,” governor Stephen Poloz told the Chamber […]
FOMC MINUTES: CAUTIOUS REAFFIRMATION OF ‘PIVOT’ FOR NOW
–Ready to Leave Patience Behind If Uncertainty Lifts WASHINGTON (MaceNews) – The minutes of last month’s meeting of the policy-setting Federal Open Market Committee, published Wednesday, showed a cautious reaffirmation of December’s pivot toward “patience” at least until “later this year” or until uncertainty about the outlook “abated.” The participants recharacterized the economy’s pulse rate as […]
ANALYSIS: THE CNBC RECESSION AND AN AMBIDEXTROUS FED
–Between Patience and Prudence As Payrolls Soar By Denny Gulino WASHINGTON (MaceNews) – You might have noticed a certain against-the-grain skepticism reflected in our coverage of the Fed in December and early January, during those volleys of attacks on a seemingly naïve and misguided Federal Reserve Chairman Jerome “Jay” Powell. About those attacks, in some quarters they […]
DECEMBER HITS FEBRUARY WITH RETAIL SALES UGLY STICK
–January Business Inflation Shows Expected Decline; Claims Elevated WASHINGTON (MaceNews) – February’s positive narratives were ambushed Thursday by remnants of last year’s most negative month, December, with the retail sales report – delayed a month by the government shutdown – landing with a thud on the markets to show renewed investor optimism is still fragile. […]
US DEC BUDGET DEFICIT SLOWED – BUT ONLY ON THE SURFACE
WASHINGTON (MaceNews) – The December budget deficit was just $13.5 billion, the Treasury Department said Wednesday and after the usual apples-to-apples adjustment, was $45 billion in the red, heading toward what the Congressional Budget Office says will be about $900 billion by the end of the fiscal year. So while the official number is 10% […]
US JAN CONSUMER INFLATION RESTRAINED BY FUELS BUT GAINS WIDESPREAD
–Dominant Shelter Index +3.2%/12 M0s, An Upward Pull WASHINGTON (MaceNews) – The key signposts within the Consumer Price Index, the annual rates of increase for shelter and rents, show strong upward pressure on the inflation rate, increases through January above 3%. The Federal Reserve reflexively looks past energy as an important long-term inflation determinant, disdains […]
WHAT RECESSION? BLOWOUT JAN JOBS REASSURES EVEN WITH DEC CUT
By Denny Gulino WASHINGTON (MaceNews) – The January jobs report Friday blew away December’s recession fears with its 304,000 addition to payrolls, 3.2% annual growth in earnings and a labor participation rate suggesting a sturdier work force. High-end forecasts looked pessimistic in retrospect with government shutdown ripples evident, yet in the end not a factor […]