BOE’S BAILEY HINTS THAT EXPANDED QE WILL PRECEDE ANY RATE CUT
By Laurie Laird LONDON (MaceNews) – Bank of England Governor Andrew Bailey Wednesday suggested that the UK central bank is likely to expand its quantitative easing program before embarking on any move to nudge interest rates into negative territory. “We have signaled that we stand ready to do more within the framework of policies we […]
FED’S BEIGE BK: SEVERE DISRUPTIONS CONTINUE; NO QUICK RECOVERY SEEN
–Some Recent Improvement in Autos –Not Seeing Full Hirebacks WASHINGTON (MaceNews) – The Federal Reserve’s latest Beige Book survey of economic activity across the country Wednesday chronicled the continuing – and in some regions, deepening – severe disruption caused by the pandemic with some Districts finding low expectations for a quick rebound and complete rehirings. […]
DATA FLASH: US MAY CONFIDENCE STOPS SLIDE; NEW HOMES UP
–Dallas Manufacturing Reading in Line with Other Regional Data By Kevin Kastner WASHINGTON (MaceNews) – The Conference Board’s U.S. consumer confidence index rose slightly to a reading of 86.6 in May from a downward revised 85.7 reading in April, stopping the slide at two months but leaving the index well below the recent peak in […]
BOE’S HALDANE SOUNDS CAUTIOUS NOTE ON NEGATIVE UK RATES
— Sees “Modest” Recovery in Recent Consumer Spending LONDON (MaceNews) – The Bank of England’s chief economist sounded a decidedly cautious note on the possibility of negative interest rates in the UK, just a week after BoE Governor Andrew Bailey confirmed that sub-zero rates are actively under review. “Reviewing and doing are different things,” said […]
BANK OF CANADA TAKING RISK MANAGEMENT APPROACH DURING ‘UNKNOWABLE TIMES’
NEW YORK (MaceNews) – The Bank of Canada continues to pursue a risk management approach to policy-making as it faces multiple challenges and uncertainties stemming from the Covid-19 pandemic, retiring Governor Stephen Poloz said Monday. The risk management approach to implementing the bank’s inflation mandate means the bank considers multiple economic models and incorporates soft […]
DATA PREVIEW: US REGIONAL DATA, CONFIDENCE KEY RELEASES
By Kevin Kastner WASHINGTON (MaceNews) – The May 25 week starts off with the Memorial Day holiday, but it quickly speeds up from there. Regional conditions data for May are the highlight of the week, with reports from the Philadelphia, Dallas, Richmond and Kansas City Federal Reserve banks and the Chicago PMI on tap ahead […]
US ENERGY SECRETARY: MAY LEASE ADDITIONAL CRUDE OIL STORAGE IN SPR
By Brai Odion-Esene, SW4 Insights, for Mace News WASHINGTON (MaceNews) – The Trump administration is pleased with initial results of its actions to secure crude oil for the national stockpile while easing storage pressures on the struggling oil companies, and might conduct similar operations in the near future, Energy Secretary Dan Brouillette said Thursday. Speaking […]
FED’S WILLIAMS: OUTLOOK UNCERTAIN; TO USE TOOLS ‘TO THE UTMOST’ FOR RECOVERY
NEW YORK (MaceNews) – The Federal Reserve remains open to taking more steps as needed to support the recovery, though negative interest rates are not on the table, New York Fed President John Williams said Thursday. Williams, answering questions during a webcast with a regional business group, said the economic outlook and the likely course […]
DATA FLASH: US INITIAL CLAIMS SLOW; EXISTING HOME SALES PLUNGE
–Initial Claims -249,000 to 2.438 Mln; 35.3 Mln Unadjusted Under COVID–May Philly Fed Manufacturing Index Improved to -43.1 From -56.6 in April–April Existing Home Sales Fell to 4.33 Mln from 5.27 Mln In March By Kevin Kastner WASHINGTON (MaceNews) – The U.S. data released on Thursday were a mixed bag, with data for May showing […]
WHITE HOUSE WATCH COMMENTARY: AN INCONSEQUENTIAL VIRUS OBITUARY
By Denny Gulino WASHINGTON (MaceNews) – With by one count 93,382 deaths blamed on the corona virus through Wednesday, each one a life-altering tragedy for a family, there is hardly any point chronicling the death of an inanimate process which few could care about or should. Yet the passing of the early morning ritual of […]