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Author: Adam Button

Williams speaks to the Australian Broadcasting Corporation

On inflation: "I haven't really changed my forecast for inflation. I still expect it to move back to 2 percent, our goal, in the next year or so, but given what we've seen in recent months, I'm watching it carefully."

Cites cell phone plan pricing as a reason for weakness, says "underlying trajectory" is good.

On economy: "The US economy is still doing -- I think on fundamentals -- is doing quite well."

Warns that excessive risks taking could be pulled back as Fed moves rates toward more-normal levels.

Warns on stock market: "I am somewhat concerned about the complacency in the market. If you look at these measures of uncertainty, like the VIX measure, or other indicators, there seems to be a priced-to-perfection attitude out there," he said. "The stock market still seems to be running very much on fumes, or is very strong in terms of that, so something that clearly is a risk to the U.S. economy, some correction there, is something that we have to be prepared for, and to respond to, if it does happen."

Watch the interview here.

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Author: Adam Button

Fed's Harker: US inflation weakness is temporary, still wants to hike

Harker speaks on the economic outlook and international trade in London - Still backs one more hike this year - Has trimmed his inflation forecast still believes it will hit 2% in 2018 These headlines have a more-hawkish look to them than on June 21, in an interview but I might be splitting hairs.

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Author: Adam Button

Harker was the second choice to lead the Philly Fed

Documents show someone else turned down the post Patrick Harker wasn't initially considered as a candidate for the Philadelphia Fed, he was on the committee searching for someone to replace Charles Plosser.

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BOE's Carney sees financial stability risk from Brexit

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Author: Mike Paterson
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US Fed's Williams says they're in process of gradually withdrawing stimulus

US San Francisco Fed's Williams speaking in Sydney again 27 June - sees inflation rising to 2% in next year or so - US has regained, even surpassed , full employment That last comment perhaps adding to USD supply coming as it does on top of various talk recently about US rate hikes leading to recession.

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Author: Eamonn Sheridan

PBOC sets USD/CNY central rate at 6.8292 (vs. yesterday at 6.8220)

People's Bank of China skips open market operations today - As they did yesterday and Friday - Statement from the Bank saying liquidity level is relatively high due to high fiscal expenditure Accounting for maturities this is a net drain of 10bn yuan today

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Author: Eamonn Sheridan
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Loads of central bank speakers coming up today - Federal Reserve, ECB, RBA

Buckle up for a barrage of central bank speakers coming up in the hours ahead. Quite a bit ahead, so time to have a nap prior if you'd like! 0805GMT head of the Federal Reserve in San Francisco John Williams continues his Tour Down Under, speaking in Sydney (Macquarie University) on "The Global Growth Slump: Causes and consequences"

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Author: Adam Button
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The US government uses the Federal Reserve to spy abroad

Fed gleans intelligence from money movements The Federal Reserve bills its services to foreign central banks as "safe and confidential" but the central bank allows other agencies access to the data for foreign intelligence services.

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Author: Mike Paterson

Bundesbank says private consumption important pillar of growth

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US Fed's Williams in favour of further, gradual rate increases

San Fran Fed's Williams's speech due to be given in Sydney shortly 26 June - sees inflation reaching Fed's 2% goal in 2018 - very strong US jobs market carries risks Williams due to speak shortly. The text has just been released but currently talking to reporters.

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BOJ: Increasing number of firms raising wages, significant for higher inflation

From the Bank of Japan 'Summary of Opinions' of the June 15 and 16 meeting, just released This pre-dates the minutes by many weeks (due for release July 25) (Headlines via Reuters) From this summary it is clear again that there is no move to reduce monetary policy accommodation in Japan.

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Author: Adam Button
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ECB orders Banca Popolare di Vicenza and another Italian bank closed

ECB declares the two banks as likely to fail Banca Popolare di Vicenza and sister bank Veneto Banco SpA are likely to fail and will be wound up, the ECB says.  Single Resolution Board declined to step in so instead Italy insolvency procedures will be used to liquidate their assets. Depositors are protected.

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Yellen highlights a busy Fed schedule in the week ahead

Here is the Fed schedule for the week of June 25-30 The past week began with a series of hawkish and optimistic comments from the Fed's Dudley that underscored the continued case for rate hikes and buying the US dollar. Critics continue to fret that the inflation picture doesn't support higher rates.

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Fed's Mester: It's time to gradually remove accommodation

Mester spoke in the Q&A - Failure to hike could mean inflation - Fed is raising rates to keep the economy healthy, not to slow expansion The hawks are still in control at the Fed but a fight is brewing.

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