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Seasonally adjusted total billings in New Zealand were $4.7 billion in May-26. Annually, this was an increase of 5.1 percent from May-25 (Figure 1). Seasonally adjusted domestic billings on New Zealand issued cards were $4.0 billion in May26, up 1.9 percent from April-26, and up 3.3 percent from May-25. Overseas billings on New Zealand issued cards were ...
From stayathomemacro.substack.com | 9 hr ago
Last week, Kevin Warsh did his best to stay behind the curtain and deliver on his promise of a quieter Fed. The FOMC statement was cut by more than half, to 130 words; Warsh did not participate in the Summary of Economic Projections, which includes the dot plot, and at the press conference, he refused to elaborate on monetary policy or inflation beyond what ...
From cnbc.com | 16 hr ago
Federal Reserve Chairman Kevin Warshs first big announced changes point toward a quiet revolution, with task forces set up to rethink virtually everything done to set policy and the approach used to get there. Following his first meeting at the helm Wednesday, Warsh outlined the plan a sprawling, ambitious endeavor entailing five task forces that will ...
Nearly every Democrat in the Senate opposed Kevin Warshs nomination as Fed chair mainly because they said he would be a tool of the man who appointed him, President Trump. This past week, Warsh made them look downright foolish. Yes, the knock on Warsh was that he would deliver lower short-term rates to goose the economy as the midterms approach, despite ...
The Federal Reserve has for decades moved steadily from a remote, opaque government agency that shared little about what it did or why to a more transparent institution willing to explain how it makes decisions and what it thinks about the economy. But in his first press conference Wednesday, new chair Kevin Warsh began to reverse some of those steps. ...
The Federal Reserve has for decades moved steadily from a remote, opaque government agency that shared little about what it did or why to a more transparent institution willing to explain how it makes decisions and what it thinks about the economy. But in his first press conference Wednesday, new chair Kevin Warsh began to reverse some of those steps. ...
The Federal Reserve is a sprawling bureaucracy, averse to change. With that in mind, the latest FOMC meeting and press conference the first under new Fed Chair Kevin Warsh came as a pleasant surprise. The Fed held its target for the federal funds rate at 3.5% to 3.75%. While that decision itself was routine (markets had treated it as a near-certainty), ...
The term rate cut is effectively banished in central bank circles right now. Rumour has it that any mention of The Policy Change That Must Not Be Named at the European Central Bank gets you turned into a frog. Or worse, sent for mandatory training at the German Bundesbank, where someone lectures you about the 1970s for several hours
Best not mention it ...
This release refers to trade in goods only. In May 2026, compared with May 2025: Goods exports rose by $1.4 billion (18 percent), to $8.9 billion Goods imports rose by $1.7 billion (26 percent), to $8.1 billion the monthly trade balance was a surplus of $800 million. charts Goods exports rose by $1.4 billion (18 percent) in May 2026 (to $8.9 billion), ...
Instead of directing financial markets with its policy moves, Federal Reserve Chairman Kevin Warsh wants the markets to inform the central bank. "Financial market prices are probably the most important source of information to guide central bankers," Warsh said during a press conference on Wednesday. "But when all the financial markets are doing is ...
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