US Inflation Surges

Following Tuesday’s surprisingly large gains in US business prices, there was a question of whether those prices rebounds would feed down to the consumer level. That was answered Wednesday morning with an extraordinarily strong CPI report. Data released by the Labor Department Wednesday morning showed that CPI rose by 0.6%, both including and excluding food […]
Read More »

BoE Defends Forecasts as Agents Query Rosy Assumptions

Top Bank of England (BoE) officials Friday reiterated the downside risks to forecasts of a smart economic rebound under questioning from the central bank’s regional representatives about the its baseline forecasting assumptions. The central forecast released Thursday “is sensible”, albeit with “very substantial” downside risk, said Governor Andrew Bailey, addressing the Bank’s regional agents via […]
Read More »

US July Sales Data Key Test of Covid Resurgence

The US economy was on pace for a steady recovery until Covid-19 cases began to rise in July, triggering several states to reverse their reopening plans. While all sectors are impacted, there is none more so than the retail sector. Strong retail sales gains in May and June, following the large April decline, set the […]
Read More »

US July Payrolls Up 1.76 Mln, Unemployment 10.2%

The July employment report reflected continued improvement in the economy, but the rate at which the US is digging out the hole it fell into in March and April clearly slowed. That recovery is likely to be hindered further by the rebound in COVID-19 cases across several states, which forced some states and businesses back […]
Read More »

There Will Be Virus Relief Legislation

The following is Thursday’s status check of developments in the US that can influence economic, health and political outcomes from Mace News: Now at the top of the agenda, the negotiations that went another three hours, breaking up at a late hour in House Speaker Pelosi’s office on that legislation restoring some kind of enhanced […]
Read More »

US Initial Claims Decline, But Outlook Remains Unclear

As US Congress debates the fate of the extended jobless claims program, initial claims fell by 249,000 in the August 1 week to a level of 1.186 million, well below the 1.442 million level expected and the lowest weekly level since the start of COVID-19. The enhanced Federal unemployment payments of $600 per week ended […]
Read More »

The In-Between World of Slowdown Rebound

The following is Wednesday’s status check of developments in the US that can influence economic, health and political outcomes, compiled by Mace News: Another day in that indeterminate area between slowdown and rebound, between the alternate universes with President Trump in his evening briefing in his world, the one in which the virus is being […]
Read More »

US Treasury to Borrow $1 Trillion More, Maybe $2 Trillion

The following is Monday’s status check of developments in the US that can influence economic, health and political outcomes, collated by Mace News: Phase 4 or otherwise known as the next coronavirus relief legislation is slowly – very slowly – coming together on Capitol Hill, with two and a half hours of talks Monday ending […]
Read More »

Fed’s Evans: Fed Can’t Make Workplaces Safe

Chicago Federal Reserve president Charles Evans, hosting a virtual roundtable for news media, said that while the second-quarter gross domestic product was the worst on record, declining at an annualised rate of 32.9 percent, with about 18 million unemployed workers, some improvement was seen in May and June as many states eased their lockdown restrictions. […]
Read More »

Fed’s Bullard: US Recovery Slowed in July; Ups, Downs Ahead

The US economy slowed in July after surprising to the upside in May and June as it bounced back from its low in April. St Louis Fed president James Bullard said Monday. Bullard, in webinar remarks at an event hosted by the St Louis Fed’s Memphis branch, repeated that he expects the economy to stabilise […]
Read More »