Japanese economy started to pick up -exports, production picking up. Business investment on declining trend -improving in economy only moderate Economic outlook is on a recovery trend -price expectations weakening. Inflation going back to positive territory.
Powell says unemployment might be 3% higher because of uncounted people who are shown as out of the labor force
Borrowing from the Main Street Lending Program is closer to $2 billion now. Main Street Lending Program reaches the whole nation and more banks and borrowers are joining. Main Street can ramp up as needed. Some lenders are concerned about underwriting expectations.
POWELL REITERATES FED HAS LENDING POWERS, NOT SPENDING POWERS
Outlook for the economy is extraordinarily uncertain. Full economic recovery is unlikely until people are confident it is safe to engage in activities. Path forward also depends on policy actions taken by all parts of government. Fed remains committed to using full r...
Fed Kaplan and Kashkari voted against the monetary policy action in today 8-2 vote
In its updated Economic Projections, the FOMC said it expects the gross domestic product (GDP) to contract at a softer pace than the previous forecast of 6.5% in 2020 and sees unemployment at 7.6% at year end.
Fed plans to keep key interest rate near zero through 2023
FED ON HOLD UNTIL INFLATION AT 2%, SET FOR MODERATE OVERSHOOT
Actual: 0.25% Forecast: 0.25% Previous: 0.25%
Fed Interest Rate Decision will be published in 10 minutes
The Federal Reserve will deliver its interest rate decision in 30 minutes. There is no interest rate change expected from the Fed. Powell will hold a press conference following the meeting, awaiting his insights on the policy outlook. FOMC Economic Projections...
EIA weekly US oil inventories -4389K vs +2074K expected
Canada August CPI +0.1% vs +0.4% y/y expected
US retail sales for August 0.6% vs. 1.0% estimate
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