Archive for June 16th, 2021

Central Bank Watch

Powell’s Press Conference

June 16, 2021

Financial markets exhibited their sharpest movement of the day during the first half of Chairman Powell’s one-hour press conference. Little transpired in that half hour that was particularly illuminating, and so it appears investors were merely responding to the updated forecasts that show the fed funds rate starting to climb out of the cellar in […] More

Central Bank Watch

FOMC Statement and Projections

June 16, 2021

The FOMC statement is almost identical to the previous one in late April, except that it acknowledges vaccination progress reducing the drag of Covid on the economy. However, the thought that some Covid risks continue was not dropped. The most newsworthy part of the updated projections involves end-year forecasts for the appropriate federal funds target. […] More

Central Bank Watch

FOMC Preview

June 16, 2021

The issue at stake at this week’s monetary policy review meeting is whether officials are going to imply that the onset for the tapering of policy stimulus may be less distant than they have implied previously. Inflation in the United States has accelerated more sharply than officials were anticipating. Perceptions of inflation and expected inflation […] More

New Overnight Developments Abroad - Daily Update

Stressful Day that Includes the Biden-Putin Talks in Geneva, an FOMC Policy Meeting in Washington, and an Assortment of Meaningful Data Releases

June 16, 2021

The Biden-Putin summit is underway and expected to last around five hours. The U.S. political leaders will then hold separate individual press conferences rather than a joint event. The Federal Open Market Committee is not expected to change monetary policy settings but could for the first time indicate that it’s not too early to begin […] More

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