Uh-oh … maybe the People’s Bank of China adviser chucked that in just to get some attention? Mission accomplished! – China needs to open its market further as it seeks to invest more overseas
A People’s Bank of China policy adviser commentary crossing the wires – China debt problem is serious – But won’t cause financial crisis – It l take time to stabilise leverage level —
Federal Reserve Bank of Minneapolis President Neel Kashkari in an interview with Fox on Saturday. Bloomberg have a report on the interview here if you’d like more. —
Chinese markets reopen today after being closed for a holiday on Thursday and Friday last week. The previous USD/CNY mid rate was 6.2926 on Wednesday last week.
Evans spoke in Chicago Saturday – World economies starting to grow simultaneously – US may need to do more to sustain inflation at 2% Evans was a dove for a long time but he’s firmly shifted into the camp arguing for rate hikes.
The wage puzzle continues – The direct effect from the currently-proposed tariffs is small – Sustainable trend growth in the US at the moment is 1.75% – Says he’s pleased labor force participation has stopped falling The takeaway here is that Evans has grown much more hawkish in the past few months. I think he’s…
Carney speaking at a climate conference in Amsterdam No comments on monetary policy or the outlook from Carney. He said: “Intense hurricanes, of the type most likely to cause large insurance losses, seem to be getting more frequent and the chance of two or more intense hurricanes occurring close together may be higher than previously…
Carney to speak at 15:15 GMT (11:15 am ET) but some say the text is due at the top of the hour The location makes it likely that the comments won’t heavily dip into the outlook or monetary policy but you never know. The text is embargoed so that argues for being ready for anything.
Powell takes questions – Wage inflation connection to immigration isn’t easy to find in the data
Powell in Chicago – Further gradual rate hikes best promote growth – He and colleagues believe US economy will require gradual hikes – Risks to economic outlook are roughly balanced The headline sounds dovish but the text is balanced and virtually identical to his stance in the FOMC press conference.