MNI: Canada Apr-Sept Budget Deficit Widens On Spending

CANADA'S TRUDEAU: I CONTINUE TO HAVE GOOD TALKS WITH TRUMP

MNI BRIEF: Little Macro Difference On Rate Oprions- de Guindos

MNI BRIEF: PBOC Added Outright Repo For Ample Lqdty In Nov

MNI China Daily Summary: Friday, November 29

MNI BRIEF: China Extends U.S. Import Tariff Exemption List

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

CANADA Q3 GDP ANNUALIZED +1.0% AS EXPECTED ON GOVT, CONSUMERS

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Chair Powell Begins Press Conference

FED
  • Colleagues and I strongly committed to bringing inflation back down to our 2% goal. We have the tools and the resolve that it will take. Price stability the bedrock of our economy, without it the economy does not work for anyone. (Very similar language to previous).
  • " We are moving our stance to a level that will be sufficiently restrictive to return inflation to 2%."
  • Powell goes through the economic landscape as usual:
  • Economy has slowed from the high growth of 2021. Recent indicators point to modest growth. Consumer spending growth slowed. Housing sector activity weakened, in large part reflecting higher mortgage rates. Higher interest rates appear to be weighing on biz investment, while weaker growth abroad is restraining exports.
  • FOMC have marked down projections for grwoth; despite slowdown labor market has remained tight, unemp near 50-year low, vacancies at hisotrical highs, wage growth elevated. Job gains have been robust; labor market continues to be out of balance. Participation rate showed welcome uptick in August, but little changed since start of year.
  • "FOMC participants expect supply and demand conditions in the labor market to come into better balance over time, easing pressure on wages and prices."
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.