Janet Yellen
Wait and See
July 18, 2023
Investors this Tuesday await the continuing parade of second-quarter corporate results, several U.S. economic data due shortly, and possible news from G20 finance ministers and central bankers meeting in India. Hardly any data were released in Asia or Europe overnight. The dollar slipped 0.4% and 0.2% against sterling and the euro, which touched 15-month and […] More
U.S. Economic Performance Under Seven Different Fed Chair-Persons
October 3, 2017
There have been only seven leaders of the Federal Reserve System since April 1951, a period spanning two-thirds of a century. William McChesney Martin was appointed by Truman and served from April 2, 1951 when his age was 44 until January 31, 1970 when it was 63. His father had been a central banker, but […] More
Oil and European Share Prices Show Firmer Tone
September 28, 2016
This has been another day with comparatively few releases of economic data — mostly some sentiment measures. Japanese small business sentiment recovered 1.4 points to a 2-month high of 47.7 in September but remains mired below the 50 threshold. Consumer confidence in China according to the Westpac gauge rebounded 3.7 points to a 3-month high […] More
Investors Continue to Mark Time Ahead of Jackson Hole Symposium
August 24, 2016
Overnight the dollar rose 0.2% against the euro and 0.1% versus the Swiss franc but slipped 0.3% against the kiwi and 0.2% relative to sterling. There’s been no net change vis-a-vis the yen or Aussie dollar. Share prices rose 0.7% in Singapore, 0.3% in India and 0.6% in Japan but fell 0.7% in Hong Kong […] More
ECB Delivers Less Support than Expected, Sending Euro Sharply Higher
December 3, 2015
ECB officials, who had strongly hinted that significant additional monetary policy relief is imminent, failed to meet the market’s expectations. Largely in response, the dollar recorded an overnight drop of 2.1% against the euro and 1.7% versus the Swiss franc. Share prices in Europe are down 3.0% in France, 2.8% in Germany, 2.0% in Spain, […] More
Awaiting Possible New Clues from the FOMC
March 19, 2014
The FOMC decision is due at 1600 GMT and will be followed by Janet Yellen’s first press conference a half hour later. Malaysian Flight 370 is still missing, with concerns climbing it will never be found. The dollar is unchanged against the euro and kiwi, up 0.4% versus the loonie and 0.1% relative to the […] More
Geopolitical Tensions Intensify Market Fear of Risk
February 27, 2014
Escalating tension within Ukraine between those loyal to Russia and those seeking closer ties with Europe sent the hyrvnia tumbling some 10% to 11.2/USD. Global financial markets have been infected, with sovereign debt yields and equities falling but the yen and dollar rising. Stocks in Europe have declined by 1.5% in Germany, 1.3% in Spain, […] More
Markets Accepting the Message that Fed Tapering Will Continue
February 12, 2014
Janet Yellen’s message had two parts. First, the onset of a rising federal funds rate remains far away and the economy remains vulnerable. Second, a measured pace of quantitative easing will not be halted except in the case that the economy seems to be veering sharply below expectations, that is toward recession. This message was […] More
Waiting for Yellen’s Testimony
February 11, 2014
Janet Yellen, the new Fed Chairwoman of the Federal Reserve, delivers semi-annual Humphrey-Hawkins testimony at 15:00 GMT before the House Financial Services Committee. Investors await possible modifications of forward guidance, her thoughts on the state of the economic recovery, and any clarifications of the tapering of monthly asset purchases. Other than the above eagerly awaited […] More
Yellen Confirmed by Senate
January 7, 2014
The senate approved the nomination of Janet Yellen as the next Fed Chairperson by a comparatively underwhelming 56-26 margin. Many Republicans opposed the choice on principle, and there were several absentees caused by America’s deep freeze that stymied traveling. The dollar rose overnight by 0.5% against the Australian dollar, 0.4% relative to the loonie, 0.3% […] More
