BANK OF CANADA’S LANE SEES ECONOMY, INFLATION DEPRESSED POST-COVID
NEW YORK (MaceNews) – Canada’s economy is likely to emerge from the Covid-19 shutdown period with weaker supply and demand, and lower inflation, due to shutdown “scarring,” Bank of Canada Deputy Governor Tim Lane said Wednesday. “While the steps we have taken should help, we are likely to emerge from the shutdown with both demand […]
BOE’S BAILEY ADMITS TO ‘CHANGING HIS POSITION;’ WON’T RULE OUT NEGATIVE LENDING RATES
By Laurie Laird LONDON (MaceNews) – Bank of England Governor Andrew Bailey declined Wednesday to rule out further reductions in lending rates, admitting that he has “changed his position” on sub-zero rates since mid-March. Facing a question on negative rates posed by Felicity Buchan, a Conservative Member of Parliament serving on the Treasury Select Committee, […]
WHITE HOUSE WATCH COMMENTARY: ’MY DECISION TO MAKE,’ THE NEW VIRUS ANTHEM
By Denny Gulino WASHINGTON (MaceNews) – A few loose ends remain but this whole virus thing is about to be wrapped up, with all the states reopening to some degree, so far no virus rebound evident and a vaccine candidate or two coming along fine. Once that vaccine is nailed down and a few hundred […]
FED’S POWELL/US TSY’S MNUCHIN: MAIN ST LENDING MAYBE BY EARLY JUNE
–June To Be Very Difficult for Jobs –Ready to Take Losses on Emergency Loans WASHINGTON (MaceNews) – Even as parts of the economy sputter into a small-scale reactivation hundreds of billions of dollar of government support are poised to be deployed beginning in the next two weeks, the Treasury secretary and Federal Reserve chairman said […]
FED’S ROSENGREN: MUST NOT GIVE UP PROGRESS ON CONTAINING VIRUS IN RUSH TO REOPEN
NEW YORK (MaceNews) – U.S. economic challenges reflect public health concerns, and it’s critical that progress on containing Covid-19 not be undone as businesses and other activities reopen, Boston Fed President Eric Rosengren said Tuesday. “Public health solutions are paramount – without them, it will be virtually impossible to return to full employment,” Rosengren said […]
ECB’S LANE: ECB OPEN TO EXPANDING SIZE, COMPOSITION OF CORONAVIRUS BOND BUYING PROGRAM
LONDON (MaceNews) – The chief economist of the European Central Bank raised the prospect of expanding the size and scope of the bank’s emergency pandemic program, adopting a more dovish tone than he had just over a week ago. “We are fully prepared to further adjust our instruments … [including] increased the size of the […]
DATA FLASH: LACK OF DEMAND KEEPS US HOME BUILDING DEPRESSED
By Kevin Kastner WASHINGTON (MaceNews) -The U.S. April home building data, released Tuesday, reflected the lack of buyer traffic and reduced demand that has been in place since mid-March, even as mortgage rates remain near record lows. Construction was labeled as an essential business in most states during the social distancing shutdowns, but without demand […]
ZEW GERMAN EXPECTATIONS INDEX RISES AS INVESTORS SEE RECOVERY IN 2H
By Marco Babic VIENNA (MaceNews) – Expectations for Germany’s economy improved in May, rising to a reading of 51.0 from 28.2 the previous month while the assessment of current conditions fell slightly to -93.5 from -91.5, the ZEW institute said Tuesday. Markets were expecting the ZEW expectations index at about 33.5, and the current conditions […]
WHITE HOUSE WATCH: VACCINE BREAKTHROUGH AND THE STEALTH VIRUS TASK FORCE
By Denny Gulino WASHINGTON (MaceNews) – There were clues Monday that the White House Corona Virus Task Force still exists, a sighting of two of its members and the disclosure by Treasury Secretary Steve Mnuchin that he will attend Task Force meetings this week. Otherwise there was no sign of the NIH’s Tony Fauci nor […]
WHITE HOUSE WATCH COMMENTARY: SOMETHING WORSE THAN EITHER SIDE WINNING?
By Denny Gulino WASHINGTON (MaceNews) – All eyes are now on the 2020 presidential election – the words every day from every cable network and, from time to time, maybe the question should be raised, why? First, back to headquarters for late breaking virus news, like the CBS “60 Minutes” interview with Federal Reserve Chair […]