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 […]
DATA PREVIEW: FEWER DATA POINTS IN THE MAY 18 WEEK, BUT NOT LESS NEGATIVITY
By Kevin Kastner WASHINGTON (MaceNews) – After an overflow of data Friday, there is a breather coming in the May 18 week, but that doesn’t mean there won’t be anything for markets and analysts to focus on. Housing data takes up much of the schedule, starting with the National Association of Home Builders’ Housing Market […]
DATA FLASH: US APRIL RETAIL SALES DOWN 16.4% AS CRISIS CONTINUED
–Non-store Retail Sales Rose 8.4%, Other Categories Down–Empire State Index Rose to -48.5 in May from -78.2 in April–Industrial Production -11.2%, Manufacturing -13.7% on Vehicles By Kevin Kastner WASHINGTON (MaceNews) – Social distancing continued in April, cutting further in almost every retail sale category, data released Friday morning showed. At the same time, industrial production […]
WHITE HOUSE WATCH COMMENTARY: THE TRUTH ABOUT DR BRIGHT AND THE PRESIDENT
By Denny Gulino WASHINGTON (MaceNews) – When Jack Nicholson ad-libbed, “You can’t handle the truth” in that 1992 movie it became one of those phrases that assumed a life of its own, used long after in contexts far removed from the original plot. The Nicholson character’s truth proved to be irrelevant, part of a strident […]