CANADIAN HIRING STRONG IN FIRST TWO MONTHS OF 2019
By Gordon Isfeld OTTAWA (MaceNews) – Canada’s labour market appears to be following a different course than the economy as a whole, with February marking the second straight month of strong job growth and an unemployment rate that was unchanged from the previous month at 5.8%, according to the national data agency Friday. Since the start of 2019, […]
US FEB PAYROLLS A BIG DISAPPOINTMENT; REASONS UNCLEAR
WASHINGTON (MaceNews) – The slowdown in jobs growth in February was so abrupt – payrolls growth of only 20,000 – that analysts were trying to judge to what extent the results reflected special circumstances. The contrast with January’s remarkable surge in job creation went beyond a typical backwash in the following month, especially since January […]
ECB: RATES HOLDING REST OF YR; EASES POLICY STANCE
By Laurie Laird FRANKFURT (MaceNews) – The European Central Bank adopted a markedly easier policy stance at Thursday’s governing council meeting, just months after terminating its multi-billion dollar quantitative easing programme, following a dramatic downward revision to its growth forecast for 2019. From September, the ECB will launch a new series of quarterly targeted longer-term […]
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. […]