TRANSCRIPT: Fed’s Powell Says Wait and See Effects of Tariffs on Inflation, Unemployment
WASHINGTON (MaceNews) – Federal Reserve Chair Jerome Powell Wednesday said in several different ways the Fed has to wait and see whatever effects on inflation and unemployment come from whatever the ultimate tariff rates are imposed on China and other countries – and beyond that, he said very little more. A transcript of the post-FOMC […]
FOMC Stands Pat, Sees Risks Up for Both Unemployment, Inflation
WASHINGTON (MaceNews) – The Federal Open Market Committee Wednesday, as expected, decided to maintain its policy rate and the only notable addition to the policy statement was that the Fed sees “the risks of higher unemployment and higher inflation have risen.” The policy statement follows: Although swings in net exports have affected the data, recent […]
FED’S BEIGE BOOK: Analysts See ‘Pre-Downturn’ Assessment of Tepid Economy Coast to Coast
WASHINGTON (MaceNews) – The Federal Reserve’s latest “Beige Book” survey Wednesday of economic conditions in all 12 Fed Districts reflected widespread uncertainty because of shifting trade policy, softening consumer spending and worsening outlooks that hinted at an economy on the precipice of a downturn. The following is the national summary and District-by-District snapshots from the […]
US TARIFFS STATE OF PLAY: Pres Trump Imposes Massive Global Tariffs Likely to Cause Widespread USA Price Hikes
WASHINGTON (MaceNews) – Amid much pessimism about severe economic domestic consequences, President Trump Wednesday imposed massive tariffs on several dozen countries including China and the European Union and a blanket 10% levy on all the rest. The Rose Garden announcement shook stock futures into large negatives while interest rates maintained lows last hit in October. […]
StL Fed’s Musalem: Must Lean Against Inflation If Expectations Become Unanchored
– May Have To Leave Rates Unchanged Longer Or Hike Rates If Inflation Worsens By Steven K. Beckner (MaceNews) – Although downside risks to the labor market have increased, so have upside risks to inflation and inflation expectations, and such a combination could create a difficult monetary policy dilemma, St. Louis Federal Reserve Bank President […]
FOMC: Standstill Policy Statement Accompanied by Dot Plot Assumptions Still for Two Rate Cuts This Year
WASHINGTON (MaceNews): The Federal Ope Market Committee Wednesday provided no surprises in its latest policy statement and the dot plot of participants still saw two rate cuts this year. The text of the statement follows: Recent indicators suggest that economic activity has continued to expand at a solid pace. The unemployment rate has stabilized at […]
TARIFFS STATE OF PLAY: Trump Tariffs Go Global – A Small Start Compared to What’s Coming
WASHINGTON (MaceNews) – The new worldwide 25% U.S. tariffs on steel and aluminum Wednesday – with no exemptions – piled atop the now 20% levied on China goods, 22 days away from the start of the nation’s far bigger experiment in confrontational trade policy, “reciprocal tariffs.” As expected, retaliatory tariffs also began to accumulate, first […]
Powell Repeats Economy ‘In Good Place’: FOMC Needn’t Be in Hurry To Ease
– Largely Brushes Off Signs of Softening, Uncertainty For Now – Economy Doesn’t Need Fed to Do Anything: ‘We Can And We Should Wait’ – Other Fed Officials Sounding More Concerned About Economic Outlook By Steven K. Beckner (MaceNews) – Federal Reserve Chairman Jerome Powell continued Friday to say that the Fed need not be […]
UPDATE: Fed Officials Take Cautious Approach to Further Rate Cuts As Late Jan FOMC Nears
– Harker Still Sees Rates Heading Lower; But Now ‘Appropriate To Take A Pause’ – Collins Calls for ‘Patient Approach to Policy’; Cuts Could Go Faster or Slower – Schmid: Funds Rate May Already Be ‘Neutral;’ Favors Further Balance Sheet Shrinkage – Bowman Urges ‘Caution;’ Monetary Policy Not As Restrictive As Some Think By Steven […]
Italy Eyes More Medium-Long Bonds to Lengthen Debt Life – Sources
According to Rome’s government that has carried out several surveys, longer maturities appeal to Italian families as they tend to have lots of savings they prefer to invest in long term investments, and trust the state to hold their money more than banks. “The era of zero rates is over, which means that the cost […]