FED BEIGE BK SEES MODEST EXPANSION, HIGHER PRICES, SOME COOLING OF EXPECTATIONS, SOME SUPPLY CHAIN STABILIZATION
WASHINGTON (MaceNews) – The latest Beige Book survey of economic conditions coast-to-coast saw a “modest” pace of expansion as 2021 ended, with some cooling of the generally optimistic expectations for the new year and some scattered improvement in transportation bottlenecks, the Federal Reserve reported Wednesday. The survey, assembled by the Kansas City Fed through January […]
Fed’s Powell Reassures on Balance Sheet Runoff, Rate Hikes, Ultimate Control of Inflation – With Reservations
–Labor Supply Can Become an Issue Going Forward for Inflation–Whether There are Three Rate Hikes This Year Depends on Data By Denny Gulino WASHINGTON (MaceNews) – Without getting too specific, Federal Reserve Chair Jay Powell Tuesday pledged to quickly leave behind the era of emergency measures, fighting inflation while aware its current causes are largely […]
<strong>Powell Vows to Keep ‘Elevated’ Inflation From Getting ‘Entrenched;’ Doesn’t Say How</strong>
By Steven K. Beckner (MaceNews) – Federal Reserve Chair Jerome Powell pledges the Fed will act to prevent already “elevated” inflation from becoming further “entrenched” in congressional testimony prepared for delivery Tuesday morning. However, the Fed chief does not elaborate on how precisely he and his fellow policymakers will proceed to combat wage-price pressures in […]
Italy Pushes Digital Euro, Aims to Strengthen Single Currency in Post-Covid World- Sources
By Silvia Marchetti ROME (MaceNews) – Italy is pushing for a “speedy” creation of a digital euro in a bid to strengthen the single currency, and it has now become a top post-Covid priority for the financial system, according to ruling coalition sources. “The pandemic has accelerated the process: there’s been a significant boost in […]
Eurozone Consumer Prices Rose More Than Expected in December
ZURICH (MaceNews) – Consumer prices in the Eurozone rose more than economists expected in December as energy prices continue to be the main inflation driver, according to the latest preliminary figures from Eurostat. Prices as measured by HICP were 5.0 percent higher in December of 2021 than they were a year ago, rising from a […]
FOMC Minutes Reflect Surprising Amount of Discussion Re More Aggressive Tightening – But No Conclusions
WASHINGTON (MaceNews) – The latest minutes of the Federal Open Market Committee released Wednesday afternoon surprised the markets with the amount of discussion about potentially more aggressive than expected tightening moves, despite the lack of any conclusions. Not only did “many participants” judge that the appropriate pace of balance sheet runoff would likely be faster […]
Japan Nov Retail Sales Up on Fuel Price Rise, Eased Covid Restrictions 
— METI Revises Up View: Retail Sales Showing ‘Signs of Pickup’ Vs. ‘Flat’ — Vehicles Sales Drop Smaller As Supply Chain Constraints Alleviated By Max Sato (MaceNews) – Japanese retail sales posted a second straight year-on-year rise in November, with the pace of increase accelerating from October as fuel prices continued rising and people went […]
Japan Nov Core CPI Posts Solid Gain Amid Rising Energy, Processed Food Costs 
— Core, Total CPI Measures Mark 3rd Straight Y/Y Gains on Tight Supply — Core-Core CPI (Excluding Fresh Food, Energy) Down For 8th Month in A Row By Max Sato (MaceNews) – Consumer prices in Japan picked up their pace of year-on-year increase in November, led by rising utilities, fuels and processed food costs amid […]
President Biden’s Thumbs Down Moment Fails to Dampen His Optimism
By Eric Ham WASHINGTON (MaceNews) – After months of back and forth negotiations, West Virginia Sen. Joe Manchin has seemingly sealed the fate of President Biden’s signature agenda item, Build Back Better. The Democratic senator announced—on Fox News—that he will not support the nearly $2 trillion spending package. “I cannot vote to continue with this […]
Wht Hse Transcript: Background Briefing on Biden Omicron Address
WASHINGTON (MaceNews) – The following is the White House transcript of Monday night’s background teleconference previewing President Biden’s address Tuesday afternoon (2:30p ET) on the Omicron variant and prospective measures – too late to meet the challenges of holiday gatherings – being taken to mitigate its impact: Background Press Call Previewing the President’s Speech on […]