San Francisco Fed chief Mary Daly sees a long way to go before Fed raises rates In a virtual speech to Economic Club of Minnesota, she calls inflation a temporary pressure. May 5, 2021 9:38am Text size Copy shortlink:
The economy still has a long way to go before the Federal Reserve will begin pulling back on near-zero interest rates and its $120 billion-a-month bond purchase program, San Francisco Fed President Mary Daly said Tuesday at a virtual appearance at the Economic Club of Minnesota.
While the Fed has an optimistic outlook on the economy, she noted that there have been only a couple of months of really good data.
by Tyler Durden
Monday, May 03, 2021 - 09:20 AM
The key event in the first week of May will be another outstanding jobs report with April nonfarm growth expected around 950k (some whispers have it as rising as high as 1.5 million, a number that will unleash another reflation tantrum) and the unemployment rate dropping to 5.7% from 6.0% in March. ISM surveys are likely to push even higher in April, with the manufacturing index rising to 66 and services reaching a new record of 65. As BofA summarizes, with the US economy reopening amid vaccinations, real activity should be robust.
While more than half of S&P companies have now reported, and we are due for a slowdown in earning season, there is still a bevy of heavyweights reporting including iRobot and Chegg on Monday, Pfizer, TMobile on Tuesday, GM, PayPal and Rocket on Wednesday, Moderna, Square and Roku on Thursday and retail darling DraftKing on Friday.
by Tyler Durden
Monday, Apr 12, 2021 - 09:44 AM
Looking at the busy week ahead, the pandemic will remain in focus as the new case count is still moving higher at the global level even if the US now appears to have left covid behind. In the week ending last Friday April 9, the numbers recorded by John Hopkins University showed a 4.45m increase in cases globally, which compares with increases of 4.11m, 3.78m and 3.29m in the 3 weeks before that, so as Deutsche Bank notes, we ve seen an acceleration in the past month, although the rate of increase is still shy of the peaks in December and January.
Walking Alone, Low Volume, Watching the Russell 2000, Fed Minutes, Margin Buying Looking at a painting by Renoir side by side. You see beauty. I check my watch. The same is true with economic policy.
Apr 08, 2021 | 07:53 AM EDT
When there s nothing to lose, and there s nothing to prove
Well. I m dancing with myself
Ah, oh, oh-oh.
Walking Alone
Wednesday morning. I walked my usual walk. After writing Market Recon and before doing anything else. So, it s an early walk, but the sun is up. The critters of the night had disappeared, and those of the day had begun their routines.
This day, I immediately noticed, just how quiet the streets and then the park near my home were. There are about a dozen other folks who roam my neighborhood endlessly since the pandemic began. I saw none of them. Not even walking girl or walking girl s husband, who I wave to every morning. They are the two most dedicated of that dozen or so. They live on the next block, they walk together most
San Francisco Fed president: Biden plan boosts growth, not inflation
Mary Daly. Photo: David Paul Morris/Bloomberg via Getty Images
San Francisco Fed President Mary Daly does not expect President Joe Biden s proposed $2 trillion infrastructure package to alter the central bank s path on interest rate increases or change its outlook for inflation, she tells Axios in an exclusive interview.
Why it matters: Many have worried the combination of trillions in spending on coronavirus relief, the Fed s ultra-loose monetary policy, and Biden s big stimulus plans for infrastructure, education and manufacturing will set the table for out-of-control price increases.
Daly says that s unlikely to be true, joining a crew of economists, including Nobel Laureate Joseph Stiglitz, which has vouched for the economic efficacy of big spending on infrastructure.