Fed Chairman Powell

Watching Stocks, Long-Term Interest Rates, and Events on Capitol Hill

February 23, 2021

Futures trading on the Nasdaq, which fell over 300 points yesterday, are down an additional 1.4% this Tuesday. The half-percentage point rise in the U.S. ten-year Treasury yield since mid-December reflects speculation that inflation and growth may be stronger than assumed later this year but not so much so as to provoke the Fed into […] More

Focus in Last Week of February to Be on U.S. Economic Policy

February 22, 2021

U.S. stock futures this Monday point to a lower open, with the S&P index down 0.8% and the Nasdaq off 1.4%. Share prices closed down 1.5% in China, 1.2% in New Zealand, 1.1% in Hong Kong and 0.9% in South Korea, while in Europe, equities are thus far down 0.5% or more in the U.K., […] More

Rising Covid Cases, Growth Outlook Concerns, Supreme Court Nomination Fight, and U.S.-China Tensions

September 22, 2020

The pace of new Covid-19 cases has risen in many countries. A U.S. increase above 40k in the past 24 hours is well above a safe level heading into the flu season. Fed Chairman Powell said America has a long way to go in its economic recovery from spring lockdowns and that a full comeback […] More

Central Banks and Manufacturing PMI Reports in the Spotlight

August 1, 2019

The Bank of England Monetary Policy Committee left policy settings unchanged by a unanimous 9-0 vote as was expected. Today’s report coincided with the release of the quarterly Inflation Report. Projected growth in the U.K. last quarter was likely zero percent and that for 2019 has been lowered to 1.3%. The forecast assumes a Brexit […] More

Two Surprises

May 20, 2019

The new week is greeting investors with two unexpected developments, one political and the other economic. The right-of-center Liberal-National coalition government of Australia was headed for defeat in parliamentary elections according to previous opinion polls but instead defeated its Labour Party opponent. Scott Morrison will remain prime minister, and he campaigned on a promise of […] More

Dollar Rises as Powell Testimony Continues

July 18, 2018

The dollar is unchanged against the yen but extended its rise otherwise by gaining a further 0.6% against sterling, 0.3% versus the loonie, Aussie dollar and yuan, 0.2% relative to the euro and 0.1% vis-a-vis the Swiss franc and kiwi. The U.S. currency also strengthened overnight against a broad spectrum of emerging market currencies like […] More

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