Monetary Policy

Subscription Premium i

TOE Alert: BOJ throws in the towel

The keypoints of this report include, - The Bank of Japan has abandoned the pretense that it can achieve its 2% inflation target in two years, or any other particular timeframe - In the face of pressure from private banks, it refrained from going more deeply into negative rate territory regarding bank reserves at the BOJ - In another so-called “new framework” it has switched its main operating target: from an increase in the monetary base to keeping 10-year bond yields at zero - The BOJ also issued a Comprehensive Assessment of why it failed to meet its 2% target, but there is not a lot of culpa in its mea culpa; it keeps insisting that its policy will eventually work - There is no talk of what is really needed: a fiscal-monetary combination

FOMC Snapshot: No Rate Hike Tomorrow, One in December, Two-ish in 2017

FMI’s FOMC September Snapshot with the likely highlights of tomorrow’s meeting.

August Housing Starts Disappoint a Bit But Trends Stay Positive

FMI’s analyses of today’s August Housing Starts report plus notes on the September Philadelphia Fed regional non-manufacturing survey.

FMI Weekly Data Preview: September 19-23

FMI’s Preview of this week’s notable economic data releases

Nearly Half the FOMC Wants to Raise Rates in September

FMI’s Commentary on the today’s Minutes of the Fed’s recent discount rate meetings.

FOMC Turns Bit More Hawkish, But Still Waiting on Data

FMI’s Commentary on today’s quite revealing Minutes of the July FOMC meeting.

Chances for a September Rate Hike Now Higher (Far from Sure Thing)

FMI’s commentary on today’s FOMC post-meeting statement.

What Changed the FOMC's Mind in June?

FMI’s Friday Commentary on what changed the FOMC’s mind between the April and June meetings.

FOMC (Barely) Keeps 2 Hikes for ’16, Trims GDP Outlook

FMI’s commentary on today’s FOMC post-meeting statement and Yellen news conference.

FMI Weekly Data Preview: June 13-17

FMI’s Preview of this week’s major economic data releases