Dallas Fed's Kaplan (non voting member) speaking at a virtual event at Texas A&M University

  • Challenge is being too preemptive or too late on monetary policy
  • Watching cyclical prices carefully
Kaplan is the president of the Dallas Fed and is and not a voting member in 2021. He has been more hawkish of late. 
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Fri 16 Apr 2021 15:42:24 GMT

Kaplan sees unemployment moving back toward 4% by the end of the year

Feds Kaplan is speaking  The Feds Kaplan is speaking a few times today including add a virtual climate change symposium and a bitcoin conference.  

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Kaplan sees unemployment moving back toward 4% by the end of the year


Greg Michalowski
Fri 16 Apr 2021 15:42:24 GMT
Category: Central Banks
0


Feds Kaplan is speaking  The Feds Kaplan is speaking a few times today including add a virtual climate change symposium and a bitcoin conference.  

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Fri 16 Apr 2021 15:35:57 GMT

NY Fed weekly GDP Nowcast estimate up to 6.8% from 6.1% last week

Moving back higher with US retail sales the catalyst The NY Fed GBP Nowcast is projecting growth of 6.8% for the first quarter which is up from 6.1% last week. The catalyst for the week was the better-than-expected retail sales. The retail sales and food services component added 0.65% to the bottom line estimate this week.  Other contributors included capacity utilization, industrial production and housing starts.  

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NY Fed weekly GDP Nowcast estimate up to 6.8% from 6.1% last week


//az705044.vo.msecnd.net/20210416/2021-04-16_8-30-00.jpg Greg Michalowski
Fri 16 Apr 2021 15:35:57 GMT
Category: Central Banks
0
Moving back higher with US retail sales the catalyst The NY Fed GBP Nowcast is projecting growth of 6.8% for the first quarter which is up from 6.1% last week. The catalyst for the week was the better-than-expected retail sales. The retail sales and food services component added 0.65% to the bottom line estimate this week.  Other contributors included capacity utilization, industrial production and housing starts.  

Asset 24 View More
Fri 16 Apr 2021 14:19:31 GMT

4

Fed's Waller sees 2.5% inflation this year

Waller on CNBC Waller said that 'once the stimulus checks are spent, it's over, it's done'. That's a poor understanding of spending multipliers.

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Fed's Waller sees 2.5% inflation this year


//az705044.vo.msecnd.net/20201203/christopher-waller.png Adam Button
Fri 16 Apr 2021 14:19:31 GMT
Author: Adam Button
Category: Central Banks
4
Waller on CNBC Waller said that 'once the stimulus checks are spent, it's over, it's done'. That's a poor understanding of spending multipliers.

Asset 24 View More
Fri 16 Apr 2021 06:17:54 GMT

RBNZ: A touch more optimistic.

Trans-Tasman agreement lifts the mood The RBNZ meeting was pretty uneventful. The interest rate was kept at 0.25% and the Large Scale Asset Purchase (LSAP, $100 billion by June 2022) and Funding for Lending Programme (FLP) was kept unchanged. Here is a brief rundown of the meeting which was essentially on hold, with a tiny hint of optimism.

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RBNZ: A touch more optimistic.


//az705044.vo.msecnd.net/20210416/dan-freeman-hikvsvkh7no-unsplash.jpg Giles Coghlan
Fri 16 Apr 2021 06:17:54 GMT
Category: Central Banks
0
Trans-Tasman agreement lifts the mood The RBNZ meeting was pretty uneventful. The interest rate was kept at 0.25% and the Large Scale Asset Purchase (LSAP, $100 billion by June 2022) and Funding for Lending Programme (FLP) was kept unchanged. Here is a brief rundown of the meeting which was essentially on hold, with a tiny hint of optimism.

Asset 24 View More
Fri 16 Apr 2021 01:15:30 GMT

PBOC sets USD/ CNY reference rate for today at 6.5288 (vs. yesterday at 6.5297)

The People's Bank of China sets the onshore yuan (CNY) mid point for the trading session ahead.    - USD/CNY is permitted to trade plus or minus 2% from this daily reference rate.

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PBOC sets USD/ CNY reference rate for today at 6.5288 (vs. yesterday at 6.5297)


Eamonn Sheridan
Fri 16 Apr 2021 01:15:30 GMT
Category: Central Banks
0
The People's Bank of China sets the onshore yuan (CNY) mid point for the trading session ahead.    - USD/CNY is permitted to trade plus or minus 2% from this daily reference rate.

Asset 24 View More
Fri 16 Apr 2021 00:41:41 GMT

1

Bank of Japan Governor Kuroda says 2% inflation target possible to achieve, but will take time

BOJ Gov in parliament today answering questions. His comment in the headline is his usual spiel.  More: (its 2% ICYMI) - CPI growth will stay negative for the time being but will rebound thereafter, gradually accelerate the pace of increase

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Bank of Japan Governor Kuroda says 2% inflation target possible to achieve, but will take time


Eamonn Sheridan
Fri 16 Apr 2021 00:41:41 GMT
Category: Central Banks
1
BOJ Gov in parliament today answering questions. His comment in the headline is his usual spiel.  More: (its 2% ICYMI) - CPI growth will stay negative for the time being but will rebound thereafter, gradually accelerate the pace of increase

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Thu 15 Apr 2021 23:40:08 GMT

Heads up for likely comments from Bank of Japan Governor Kuroda

BOJ Gov. Kuroda is to appear in Japan's parliament again today. Kuroda spoke yesterday, if he says much today it'll be to deliver similar messaging: And, also from the BOJ yesterday:

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Heads up for likely comments from Bank of Japan Governor Kuroda


Eamonn Sheridan
Thu 15 Apr 2021 23:40:08 GMT
Category: Central Banks
0
BOJ Gov. Kuroda is to appear in Japan's parliament again today. Kuroda spoke yesterday, if he says much today it'll be to deliver similar messaging: And, also from the BOJ yesterday:

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Thu 15 Apr 2021 21:43:27 GMT

2

Fed’s Daly is concerned about the frequency of Federal Reserve market interventions

Mary Daly is head of the San Francisco Federal Reserve branch, earlier comments here:  The Wall Street Journal have a bit of a recap up on her remarks, focusing on those she made regarding Fed intervention in markets:

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Fed’s Daly is concerned about the frequency of Federal Reserve market interventions


Eamonn Sheridan
Thu 15 Apr 2021 21:43:27 GMT
Category: Central Banks
2
Mary Daly is head of the San Francisco Federal Reserve branch, earlier comments here:  The Wall Street Journal have a bit of a recap up on her remarks, focusing on those she made regarding Fed intervention in markets:

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Thu 15 Apr 2021 21:42:15 GMT

Fed's Mester (more): Economy has a long way to go until sustainable recovery

Loretta Mester, President and Chief Executive Officer of the Federal Reserve Bank of Cleveland spoke earlier: More again from Mester, remarks to media following here earlier speech and Q&A (Headlines via Reuters) 

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Fed's Mester (more): Economy has a long way to go until sustainable recovery


Eamonn Sheridan
Thu 15 Apr 2021 21:42:15 GMT
Category: Central Banks
0
Loretta Mester, President and Chief Executive Officer of the Federal Reserve Bank of Cleveland spoke earlier: More again from Mester, remarks to media following here earlier speech and Q&A (Headlines via Reuters) 

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Thu 15 Apr 2021 20:58:37 GMT

More from Fed's Mester - not concerned about inflation getting too high

Loretta Mester, President and Chief Executive Officer of the Federal Reserve Bank of Cleveland spoke earlier: From Q&A now: Is it just me or has anyone else noticed a new twist in Fec moments ... referring now to inflation expectations. Clarida went down the same path yesterday:

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More from Fed's Mester - not concerned about inflation getting too high


Eamonn Sheridan
Thu 15 Apr 2021 20:58:37 GMT
Category: Central Banks
0
Loretta Mester, President and Chief Executive Officer of the Federal Reserve Bank of Cleveland spoke earlier: From Q&A now: Is it just me or has anyone else noticed a new twist in Fec moments ... referring now to inflation expectations. Clarida went down the same path yesterday:

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Thu 15 Apr 2021 20:18:20 GMT

2

Fed's Daly: We are going to need repeated months of good data, not there yet

Mary Daly is head of the San Francisco Federal Reserve branch, earlier comments here:  Even more following now: Summary Headlines via Reuters.

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Fed's Daly: We are going to need repeated months of good data, not there yet


Eamonn Sheridan
Thu 15 Apr 2021 20:18:20 GMT
Category: Central Banks
2
Mary Daly is head of the San Francisco Federal Reserve branch, earlier comments here:  Even more following now: Summary Headlines via Reuters.

Asset 24 View More
Thu 15 Apr 2021 20:05:45 GMT

Fed's Mester says economy is still far from the Bank's employment goal

Loretta Mester, President and Chief Executive Officer of the Federal Reserve Bank of Cleveland speaking: These from her prepared text, there will be more to follow in the Q&A 

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Fed's Mester says economy is still far from the Bank's employment goal


https://az705044.vo.msecnd.net/20190104/mester.png Eamonn Sheridan
Thu 15 Apr 2021 20:05:45 GMT
Category: Central Banks
0
Loretta Mester, President and Chief Executive Officer of the Federal Reserve Bank of Cleveland speaking: These from her prepared text, there will be more to follow in the Q&A 

Asset 24 View More
Thu 15 Apr 2021 18:58:37 GMT

More from Daly: 'Hard work' will start in economy after H2

Daly makes a good point Daly spoke about how she expects some big economic numbers in the second half of the year along with jobs gains but it will slow down into 2022.

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More from Daly: 'Hard work' will start in economy after H2


//az705044.vo.msecnd.net/20201022/mary-c-daly.png Adam Button
Thu 15 Apr 2021 18:58:37 GMT
Author: Adam Button
Category: Central Banks
0
Daly makes a good point Daly spoke about how she expects some big economic numbers in the second half of the year along with jobs gains but it will slow down into 2022.

Asset 24 View More
Thu 15 Apr 2021 18:01:57 GMT

4

Fed's Daly: It's 'critical' to shore up stability of hedge funds and money market funds

Comments from the San Francisco Fed President: There are no comments on the outlook for monetary policy here.

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Fed's Daly: It's 'critical' to shore up stability of hedge funds and money market funds


Adam Button
Thu 15 Apr 2021 18:01:57 GMT
Author: Adam Button
Category: Central Banks
4
Comments from the San Francisco Fed President: There are no comments on the outlook for monetary policy here.

Asset 24 View More
Thu 15 Apr 2021 15:56:55 GMT

7

Fed's Bostic: The FOMC won't preemptively slow economy to avoid overheating

Comments from Bostic The bulk of Bostic's comments surround systemic racism.

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Fed's Bostic: The FOMC won't preemptively slow economy to avoid overheating


Adam Button
Thu 15 Apr 2021 15:56:55 GMT
Author: Adam Button
Category: Central Banks
7
Comments from Bostic The bulk of Bostic's comments surround systemic racism.

Asset 24 View More
Thu 15 Apr 2021 06:53:54 GMT

BOJ likely to deliberate about more upbeat economic outlook later this month - report

The BOJ will release its quarterly report on the economy on 27 April And there is talk that the Japanese central bank is likely to discuss lifting its view on the economic outlook slightly amid signs that things have improved more than anticipated as of late, according to Bloomberg.

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BOJ likely to deliberate about more upbeat economic outlook later this month - report


//az705044.vo.msecnd.net/20180731/bank-of-japan.png Justin Low
Thu 15 Apr 2021 06:53:54 GMT
Author: Justin Low
Category: Central Banks
0
The BOJ will release its quarterly report on the economy on 27 April And there is talk that the Japanese central bank is likely to discuss lifting its view on the economic outlook slightly amid signs that things have improved more than anticipated as of late, according to Bloomberg.

Asset 24 View More
Thu 15 Apr 2021 05:17:21 GMT

BOJ cuts economic assessment for 2 of 9 Japanese regions in April

BOJ maintains its economic assessment for the other 7 regions The downgrades are largely tied to weaker consumption levels overall in Hokkaido and Tohoku as many Japanese regions are still recovering from the virus hit.

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BOJ cuts economic assessment for 2 of 9 Japanese regions in April


//az705044.vo.msecnd.net/20210415/15-4-2021-1-13-07-pm.png Justin Low
Thu 15 Apr 2021 05:17:21 GMT
Author: Justin Low
Category: Central Banks
0
BOJ maintains its economic assessment for the other 7 regions The downgrades are largely tied to weaker consumption levels overall in Hokkaido and Tohoku as many Japanese regions are still recovering from the virus hit.

Asset 24 View More
Thu 15 Apr 2021 01:28:23 GMT

The PBOC has (effectively) drained 1 year funds from the banking system

The  People's Bank of China has conducted a 150bn yuan Medium Term Lending Facility (MLF)  PBOC says this to cover (ie roll over) maturities: - 100bn yuan of MLF matures today Thus a small net drain. 

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The PBOC has (effectively) drained 1 year funds from the banking system


Eamonn Sheridan
Thu 15 Apr 2021 01:28:23 GMT
Category: Central Banks
0
The  People's Bank of China has conducted a 150bn yuan Medium Term Lending Facility (MLF)  PBOC says this to cover (ie roll over) maturities: - 100bn yuan of MLF matures today Thus a small net drain. 

Asset 24 View More
Thu 15 Apr 2021 01:15:23 GMT

PBOC sets USD/ CNY mid-point today at 6.5297 (vs. yesterday at 6.5362)

The People's Bank of China sets the onshore yuan (CNY) reference rate for the trading session ahead.    - USD/CNY is permitted to trade plus or minus 2% from this daily reference rate.  

View More

PBOC sets USD/ CNY mid-point today at 6.5297 (vs. yesterday at 6.5362)


Eamonn Sheridan
Thu 15 Apr 2021 01:15:23 GMT
Category: Central Banks
0
The People's Bank of China sets the onshore yuan (CNY) reference rate for the trading session ahead.    - USD/CNY is permitted to trade plus or minus 2% from this daily reference rate.  

Asset 24 View More
Thu 15 Apr 2021 01:02:33 GMT

Bank of Japan Governor Kuroda says (you'll never guess what ... ) will add more easing if necessary

The Bank of Japan releases the text of Governor Kuroda's speech. His comments could be pretty much any of his past speeches on the economy and policy. Same old from the Gov. If there is a prize for making his policies clear, by repeating  them over and over again, he'd get it:

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Bank of Japan Governor Kuroda says (you'll never guess what ... ) will add more easing if necessary


Eamonn Sheridan
Thu 15 Apr 2021 01:02:33 GMT
Category: Central Banks
0
The Bank of Japan releases the text of Governor Kuroda's speech. His comments could be pretty much any of his past speeches on the economy and policy. Same old from the Gov. If there is a prize for making his policies clear, by repeating  them over and over again, he'd get it:

Asset 24 View More
Thu 15 Apr 2021 00:51:23 GMT

Korea's central bank leaves its benchmark interest rate unchanged

Bank of Korea leaves its base rate at 0.5%, as was expected. 

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Korea's central bank leaves its benchmark interest rate unchanged


Eamonn Sheridan
Thu 15 Apr 2021 00:51:23 GMT
Category: Central Banks
0
Bank of Korea leaves its base rate at 0.5%, as was expected. 

Asset 24 View More
Wed 14 Apr 2021 23:51:28 GMT

Ex-RBA board member comments on the COVID-19 'new normal'

ICYMI, a piece from a Bloomberg interview with former  Reserve Bank board member Heather Ridout. On China: On policy, fiscal and monetary: And: The local press (Sydney Morning Herald) carry a version

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Ex-RBA board member comments on the COVID-19 'new normal'


https://az705044.vo.msecnd.net/20201103/rba-aud-australia.jpg Eamonn Sheridan
Wed 14 Apr 2021 23:51:28 GMT
Category: Central Banks
0
ICYMI, a piece from a Bloomberg interview with former  Reserve Bank board member Heather Ridout. On China: On policy, fiscal and monetary: And: The local press (Sydney Morning Herald) carry a version

Asset 24 View More
Wed 14 Apr 2021 22:06:59 GMT

ICYMI - recap of Fed vice-chair Clarida's comments

Clarida seems to have been given the green light to discuss tapering, other Fed officials have had wrists slapped by Powell for doing the same. From Clarida Wednesday US time as posted on ForexLive:

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ICYMI - recap of Fed vice-chair Clarida's comments


https://az705044.vo.msecnd.net/20200131/clarida.png Eamonn Sheridan
Wed 14 Apr 2021 22:06:59 GMT
Category: Central Banks
0
Clarida seems to have been given the green light to discuss tapering, other Fed officials have had wrists slapped by Powell for doing the same. From Clarida Wednesday US time as posted on ForexLive:

Asset 24 View More
Wed 14 Apr 2021 20:43:24 GMT

1

Fed's Clarida drops clues on what to watch for hints of asset purchase taper ahead

Richard Clarida is Vice-Chair of the Federal Reserve System Earlier remarks: Drops this now: (SEP is Summary of Economic Projections, these are issued at FOMC meetings, although not every meeting) 

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Fed's Clarida drops clues on what to watch for hints of asset purchase taper ahead


Eamonn Sheridan
Wed 14 Apr 2021 20:43:24 GMT
Category: Central Banks
1
Richard Clarida is Vice-Chair of the Federal Reserve System Earlier remarks: Drops this now: (SEP is Summary of Economic Projections, these are issued at FOMC meetings, although not every meeting) 

Asset 24 View More

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