Central Bank Watch
Not Much to Discern from Latest FOMC Policy Statement
February 1, 2017
The FOMC document released today reads almost identically to the previous December statement when the federal funds target range was lifted 25 basis points to 0.50-0.75%. The range was not increased further today, and the decision, like December’s verdict, was unanimous by a 10-0 vote despite at changeover in the voting-privileged district presidents. At the December […] More
Deeper Analysis
Bigger U.S. than Ezone Acceleration in Manufacturing Last Month
February 1, 2017
The U.S. Institute of Supply Management reported a 1.5-point increase in the manufacturing purchasing managers index to a very robust 26-month high reading of 56.0. That advance, which followed a combined 2.5-point increase in the last two months of 2016, was powered in January by gains of 3.5 points in prices, 3.3 points in jobs, and […] More
Uncategorized
FOMC Preview
February 1, 2017
Today’s Federal Open Market Committee statement on monetary policy, due at 14:00 GMT, is not expected to raise interest rates. For the first time, that was done at the prior meeting on December 13-14. At least 2, and possibly 3 or 4, increases will occur in 2017 barring an unforeseen large shock. Today’s statement will […] More
New Overnight Developments Abroad - Daily Update
A Slew of Favorable Purchasing Manager Surveys and Better-than-Expected Corporate Earnings Reports on FOMC Day
February 1, 2017
This first day of February has a scheduled FOMC policy statement release. The committee is not expected to raise its interest rate as it did in December, but investors hope to find clues to how many rate hikes might occur in 2017. More evidence emerged that the global economy experienced stronger demand, profits, and inflation […] More
