FOMC POLICY STATEMENT – As expected, with quarter-point rate cut followed by dot-plot expectations for two more this year
WASHINGTON (MaceNews) – The Federal Open Market Committee’s Wednesday policy statement: Recent indicators suggest that growth of economic activity moderated in the first half of the year. Job gains have slowed, and the unemployment rate has edged up but remains low. Inflation has moved up and remains somewhat elevated. The Committee seeks to achieve maximum […]
US TARIFFS STATE OF PLAY – Punishing 50% Tariff on India Products Takes Effect; Online Shoppers to be Hit With Tariffs Friday
WASHINGTON (MaceNews) – There was no last-minute reprieve for India, as of midnight ET hit with one of the highest tariff rates in the world. The implementation of a 50% rate shuts off most trade with the U.S. and there have been many accounts of sectors of the Indian economy already feeling the severe effect. […]
Japan Still Sees Gradual Economic Recovery but Warns Some Uncertainty over Trade Deals lingers, Downgrading Its View on Exporter Profits
By Max Sato (MaceNews) – Japan’s government continues to believe that the domestic economy is expected stay on a “modest recovery” track after top negotiators from Tokyo and Washington have worked out some details of their bilateral trade deal reached last month but also warned that uncertainty over global growth is here to stay for […]
Fed Officials Still Divided, Unsure About When and How Much To Cut Interest Rates
By Steven K. Beckner (MaceNews) – Federal Reserve officials have continued this week to muse about cutting interest rates for the first time since December when the Fed’s rate-setting Federal Open Market Committee meets in mid- September, but the FOMC remains divided and unsure. Despite an uptick in inflation, labor market worries have come to […]
BofA Global Research Fund Manager Survey: Global Investors Increasingly More Cautious About Growth and Inflation In August
By Vicki Schmelzer NEW YORK (MaceNews) – Global investors were increasingly more cautious in their views about growth and inflation in August, according to BofA Global Research’s monthly fund manager survey, released Monday. A net 41% of those polled this month looked for weaker global growth in the coming 12 months. This compared to a […]
US TARIFFS STATE OF PLAY: New Reciprocal Tariffs Don’t Dispel Uncertainty, Confusion
–Trump Fires Head of the Bureau of Labor Statistics because of alleged manipulation By Denny Gulino WASHINGTON (MaceNews) – With new reciprocal levies raising America’s average tariff rate to above 18% and the latest jobs and ISM reports raising stagflation fears, the overall era of uncertainty seems to have intensified, not diminished. The environment of […]
US TARIFFS STATE OF PLAY – List of countries and their “reciprocal” tariff rates imposed at midnight (Switzerland 39%; UK 10%)
WASHINGTON (MaceNews) – Countries and Territories Reciprocal Tariff, Adjusted Afghanistan 15%Algeria 30%Angola 15%Bangladesh 20%Bolivia 15%Bosnia and Herzegovina 30%Botswana 15%Brazil 10%Brunei 25%Cambodia 19%Cameroon 15%Chad 15%Costa Rica 15%Côte d`Ivoire 15%Democratic Republic of the Congo 15%Ecuador 15%Equatorial Guinea 15%European Union: Goods with Column 1 Duty Rate1 > 15% 0%European Union: Goods with Column 1 Duty Rate < 15% […]
US TARIFFS STATE OF PLAY: EU Signs On; China, Not Yet; Tariff Regime Fragile As Most of the Transition Lies Ahead
By Denny Gulino WASHINGTON (MaceNews) – Thursday’s 10a ET oral arguments in the U.S. Court of Appeals for the Federal Circuit is one of the several legal challenges of President Trump’s “reciprocal tariffs,” a stark reminder that much of the entire U.S. tariff regime could suddenly collapse, requiring the refund of all the billions of […]
TRANSCRIPT: Fed’s Powell Stays Away From Promises of a September Rate Cut
.WASHINGTON (MaceNews) – The following is a rough transcript of Wednesday afternoon’s post-FOMC meeting news conference with Federal Reserve Chair Jerome Powell: Despite elevated uncertainty, the economy is in a solid position. The unemployment rate remains low and the labor market is at or near maximum employment. Inflation has been running somewhat above our 2% […]
Fed’s Powell Allows For Rate Cuts ‘Sooner Rather Than Later” – If Inflation Behaves
– Repeats FOMC Can Afford to Wait and Be Careful Amid Great Uncertainty – Says FOMC Must Be ‘Careful”; Doesn’t Need To Be ‘In Any Rush’ By Steven K. Beckner (MaceNews) – Federal Reserve Chairman Jerome Powell reiterated his belief that the Fed can afford to wait for more evidence on inflation and labor market […]