Archive for September 22nd, 2021

Deeper Analysis

FOMC Statement, Forecasts, and Press Conference

September 22, 2021

Reassured investors reacted bullishly in an initial way. Stocks, which already were higher on the day, rose further. Long-term Treasury yields slid a bit, and so did the dollar. The FOMC statement┬áconfirmed “that a moderation in the pace of asset purchases may son be warranted,” which investors believe implies sometime in the coming quarter. But […] More


FOMC Preview

September 22, 2021

Today’s FOMC news is awaited for several reasons. The statement, less than half an hour away, is expected to confirm that quantitative tapering will begin next quarter even thought Covid trends have been worse than hoped of late and are having an adverse economic effect. The spike in inflation is persisting longer than had been […] More

Central Bank Watch

Bank of Japan: Same Ol, Same Ol

September 22, 2021

The Bank of Japan Board wrapped up its two-day policy review and decided by an 8-1 vote not to change its settings with Kataoka once again dissenting in favor of greater stimulus. The current policy framework anchored around a -0.1% short-term interest rate target, considerable quantitative stimulus, and a 10-year JGB yield objective of “around […] More

New Overnight Developments Abroad - Daily Update

Marking Time Ahead of Powell Press Conference

September 22, 2021

The FOMC is expected to confirm that tapering of its bond purchase program will begin in the fourth quarter. The announcement by the Fed and release of updated economic forecasts will be made at 14:00 EDT (18:00 GMT), followed by Chairman Powell’s press conference at 14:30. Earlier today, the Bank of Japan Board wrapped up […] More