Central Bank Watch
FOMC Statement
May 2, 2018
Today’s just-released FOMC statement sets the stage for a rate hike in June. The view regarding economic activity and labor market conditions is as upbeat as in March. The comment on investment is even more encouraging. On inflation, officials as much as say that the target is close at hand. A decision not to change […] More
Deeper Analysis
Convergence of U.S. and Euroland Manufacturing Operating Conditions Last Month
May 2, 2018
The rates of improvement in factory operating conditions slowed in April both in the United States and Euroland, but the U.S. deceleration was somewhat more pronounced. Hence, America enjoyed its smallest advantage relative to the euro area in three months. Declines of 3.8 points in the U.S. output sub-index and 3.1% in the U.S. jobs […] More
Central Bank Watch
FOMC Preview
May 2, 2018
Since the 25-basis point federal funds target interest rate hike to a range of 1.50-1.75% on March 21, the 10-year Treasury yield has risen another 7 basis points on balance, the price of WTI oil has climbed 3.5%, and the dollar has appreciated by 3.4% against the yen and 2.5% relative to the euro. A […] More
New Overnight Developments Abroad - Daily Update
An FOMC Announcement and Lots of Data Releases
May 2, 2018
In this second day of the third FOMC policy review of 2018, a statement will be released at 14:00 EDT (18:00 GMT). No rate changed is expected, and no subsequent press conference is scheduled. The fed funds target was last raised at the prior March 21-22 meeting. In light of further evidence of rising inflation, […] More
