Raphael Bostic, President of the Federal Reserve Bank of Atlanta, said on Thursday that the Fed is open to the possibility that maximum employment might be fewer jobs than before. Additional Comments:“Understanding what maximum employment is in the current environment will take some time.”“My interest rate path is to go …

Raphael Bostic, President of the Federal Reserve Bank of Atlanta, said on Thursday that he would push for getting the QE taper over with sooner rather than later. Additional Comments:“We do need to be tapering bond purchases, have served purpose.”“Tapering will provide more optionality in 2022 on interest rate liftoff.”“If …

Continued weather-driven poor demand expectations keep pressuring natural gas futures in early trading Thursday as the market awaited the latest round of weekly government inventory data. The January Nymex contract was off 9.8 cents to $4.160/MMBtu.Estimates ahead of the latest Energy Information Administration (EIA) storage report, scheduled for today, point …

The economic recovery from a pandemic in the Eurozone is still incomplete and the recent inflation shock along with a new pandemic waves are endangering the rebound, European Central Bank policymaker Fabio Panetta said on Thursday.“The inflationary spike stemming from global supply shocks and the resurgence in the pandemic are …

The US dollar is expected to stay strong in 2022. EUR/USD and USD/JPY could trade at 1.10 and 120.00, respectively.Those expectations are based upon the idea that sharper Fed tightening cycle to push the dollar ahead. Assuming that Omicron risks play out closer to the benign end of the spectrum, …

US President Joe Biden’s administration will extend requirements for travelers to wear masks on airplanes, trains and buses and at airports and train stations through mid-March to address ongoing COVID-19 risks. A formal announcement extending the requirements through March 18 is expected on Thursday.The news adds to the Omicron-led risk …

Turkey’s President Recep Tayyip Erdogan abruptly replaced the finance minister amid deepening national debate over aggressive interest-rate cuts that have undermined the lira and fueled inflation and price pressures.Lutfi Elvan will exit after less than 12 months in office. The new minister is Nureddin Nebati, according to a decree published …

US President Joe Biden’s administration will extend requirements for travelers to wear masks on airplanes, trains and buses and at airports and train stations through mid-March to address ongoing COVID-19 risks. A formal announcement extending the requirements through March 18 is expected on Thursday.The White House and Transportation Security Administration …

A strong headline PMI reading has masked just how business conditions are currently tougher for manufacturers. Although demand is strong, as reflected by a further solid improvement in new orders, supply chains continue to worsen at a worrying rate.However, the details behind the headline PMI tell a different, but worrying …

Narrow inventories pushed sales of new vehicles down as Toyota, Honda, Subaru, Hyundai and Kia all reported their sales dropped during November despite anticipated strong demand. Kia reported a drop in sales for November; however, its total sales through the first 11 months of 2021 surpassed the sales record the …