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"Fuzzy Math" - Democrats' "Deficit-Neutral" Social-Spending Plan Could Cost Over $4 TrillionNov 4, 2021 - 08:25:47 PDT
If you are struggling to understand why Senator Joe Manchin refuses to bend-the-knee to his progressive pals' massive social-spending plan, prepare for some cognitive dissonance.
Jerome Powell, Fed Risk Inflation Overshoot in Calling Full Employment: BloombergNov 4, 2021 - 08:02:33 PDT
The central bank might let inflation overshoot if it waits for unemployment to fall back to pre-pandemic levels.
Mega-policy decisions to boost demand. Now mega-consequences.
Question of the Day: Can the Fed stick with its announced autopilot stance?
COVID-19 Fading As Dominant Political Issue As Americans Focus on Inflation, Economy: Reuters PollNov 4, 2021 - 07:13:44 PDT
Americans are increasingly turning away from the coronavirus and focusing their attention elsewhere, especially toward rising consumer prices and other economic areas where Democrats are less trusted, Reuters/Ipsos polling shows, a shift that could favor Republicans in next year's midterm elections.
The U.S. trade deficit hit an all-time high of $80.9 billion in September as American exports fell sharply while imports, even with supply chain problems at American ports, kept climbing.
The Federal Reserve wrapped up its November FOMC meeting on Wednesday and finally did something other than talk. The central bank announced it will begin to taper its massive quantitative easing program.
When we talk about "inflation," most people immediately think about rising prices. That is indeed one of the effects of inflation. But that isn't inflation itself. Properly defined, inflation is an increase in the money supply. In fact, that used to be the standard definition of inflation. Over time, the government has changed the definition. Today, pretty much everybody defines inflation as rising prices.
Gold prices bounced back from a three-week low on Thursday as the dollar weakened after the Fed approved plans to unwind its stimulus program this month.
US Worker Productivity Plunges Most In 40 Years But Jobless Claims 'Back To Normal'Nov 4, 2021 - 05:42:59 PDT
Initial jobless claims improved further last week with 'just' 269k Americans filing for first-time jobless benefits...
World food prices rose for a third straight month in October to reach a fresh 10-year peak, led again by increases in cereals and vegetable oils, the UN food agency said on Thursday.
The Federal Reserve wrapped up its November FOMC meeting on Wednesday and finally did something other than talk. The central bank announced it will begin to taper its massive quantitative easing program.
However, there’s a growing lack of conviction among some economists about how tolerant the Fed can afford to be about building inflationary pressures, which show little, if any, signs of moderating.
European Central Bank (ECB) policymakers' comments on the rate outlook and the US Federal Reserve's decision to reduce monthly asset purchases highlighted the diverging policies between these central banks.
BOJ Kuroda Signals No Mood To Rush Stimulus Exit Even As Fed Tapers Asset BuyingNov 4, 2021 - 05:19:37 PDT
Bank of Japan (BOJ) Governor Haruhiko Kuroda on Thursday suggested his bank was in no mood to exit its massive monetary stimulus programme soon, speaking after the U.S. Federal Reserve decided overnight to taper massive asset purchases. Kurd, speaking to reporters after a meeting with Prime Minister Fumio Kishida, said his institution faces a different situation...
The calm market reaction to the Federal Reserve’s taper announcement could well be the eye of a storm as traders refuse to back down from betting that central bankers are too complacent about the threat of out-of-control inflation.
The selloff in Chinese property dollar bonds intensified on Thursday amid signs of cracks emerging in the nation’s much larger onshore market.
Some traders stuck with wagers on stubbornly high inflation after the Federal Reserve meeting, underlining a divergence in expectations between segments of the bond market and the U.S. central bank.
The Bank of England defied market expectations by keeping interest rates on hold, putting concerns about slowing growth above predictions for a spike in inflation.Policy makers led by Governor Andrew Bailey voted 7-2 to keep the benchmark lending rate at 0.1%, and 6-3 to maintain their bond buying target.
"We understand the difficulties that high inflation poses for individuals and families, particularly those with limited means to absorb higher prices for essentials such as food and transportation,” Federal Reserve Chairman Jerome Powell said in a press conference Wednesday.