FED’S DALY/BARKIN SEE HUGE PANDEMIC-CAUSED ECONOMIC CHALLENGES STILL TO COME
By Denny Gulino WASHINGTON (MaceNews) – The presidents of the Richmond and San Francisco Federal Reserve Banks Tuesday saw huge challenges ahead as government virus response programs ebb, landlords without rent payments pressure banks, displaced workers stay unemployed and customers get less enthusiastic about visits to bricks and mortar establishments as the pandemic hangs on. […]
FED’S POWELL: TO WATCH TO SEE IF CORP BOND BUYS NEEDED
–Don’t Want to Run Through Corporate Bond Market ‘Like an Elephant’ WASHINGTON (MaceNews) – Federal Reserve Chairman Jay Powell Tuesday underlined his question whether government’s coronavirus response will be sufficient, suggesting more will be needed, and he conceded the new “Main St.” lending program’s corporate bond purchases may no longer be as necessary as originally […]
FED’S KAPLAN Q&A: DUBIOUS ON YIELD CURVE TARGETING
–Dallas Fed President Says Businesses Face ‘Gut Check’ in August/September NEW YORK (MaceNews) – Dallas Fed President Robert Kaplan said Monday he is dubious about suggestions the Fed target interest rate levels along the US Treasury yield curve as a policy tool. Kaplan, responding to a question during a web appearance, said he would not […]
ST. LOUIS FED’S BULLARD: US ECONOMIC REBOUND LIKELY IN 2H; NO NEGATIVE RATES
NEW YORK (MaceNews) – After its record drop in the second quarter, the US economy is likely to see a record rebound in the third quarter, St. Louis Federal Reserve President James Bullard said Tuesday. Bullard, answering questions during a webcast, said a record rebound in the third quarter is likely, a “big plus number,” […]
WHITE HOUSE WATCH: HOT OR COLD WAR, OR PEACE FOR OUR TIME?
By Denny Gulino WASHINGTON (MaceNews) – We all know the big things in our lives that are changing because of the new consciousness of health risks and the sense of shared responsibility we feel for those around us, particularly the seniors, but there are less obvious and more subtle threats we have to deal with […]
US TREASURY TO LIFT AUCTION SIZES TO MEET MASSIVE BORROWING NEED
By Kevin Kastner WASHINGTON (MaceNews) – The U.S. Treasury plans to raise the sizes of all its nominal securities auctions to meet the pressing fiscal need of the COVID-19 crisis, their quarterly refunding statement released on Wednesday showed. On Monday, Treasury had announced that it expected to borrow $3 trillion in the current quarter, much […]
CHICAGO FED’S EVANS: ‘REASONABLE’ TO EXPECT RECOVERY BY 2H 2020, BUT LOOKING ‘QUARTER BY QUARTER’
By Suzanne Cosgrove CHICAGO (MaceNews) – After a sharp contraction in the first half, it is “reasonable” to expect the US economy to pick up in the second half of 2020, Chicago Federal Reserve Bank President Charles Evans said Tuesday. In a media conference call, Evans cautioned that he would have to evaluate economic conditions […]
FOMC, CHAIR POWELL HOLDING ON TIGHT, ALL IN FOR DURATION
–‘Not Going To Run Out of Money’ –Time to Use the ‘Great Fiscal Power’ Of the Country By Denny Gulino WASHINGTON (MaceNews) – The Federal Open Market Committee, echoed by Federal Reserve Chair Jay Powell, Wednesday signaled only firm determination to fight the damage from the economic shutdown, whatever it takes, reassuring the markets, Wall […]
BOE’S BROADBENT DOWNPLAYS PROSPECTS OF UK RECOVERY IN H2
— Sees OBR forecast of 35% decline in output in Q2 as “not unreasonable”— Decision on expanded QE expected early next month By Laurie Laird LONDON (MaceNews) – A Bank of England deputy governor Monday endorsed a grim forecast of a massive economic contraction in the second quarter, but warned that a rapid recovery may […]
NY FED’S WILLIAMS: TOO SOON TO KNOW SCALE OF ECONOMIC DISRUPTION
NEW YORK (MaceNews) – The full scale of economic fallout from the COVID-19 pandemic remains unknown, but the Federal Reserve has acted decisively to support recovery, New York Fed President John Williams said Thursday. “Although stresses in financial markets will not entirely abate until the pandemic is behind us, we have seen material improvements in […]