Fed’s Bullard: Clear Some Of The Higher Inflation To Be Temporary - BBG TV

tweet at 6:51am: MORE BOE'S SAUNDERS: MAY NOT 'VOTE TODAY TO CURTAIL' THE APP, BUT 'FOR ME THAT HAS TO BE UNDER CONSIDERATION' #boe #ukeconomy #michaelsaunders #inflation tweet at 6:51am: BOE'S SAUNDERS, WHEN ASKED IF STOPPING QE EARLY WOULD DAMAGE CREDIBILITY: ACCORDING TO THE BOE, THE INITIATIVE MIGHT BE RE-EVALUATED. tweet at 6:59am: BOE'S SAUNDERS: THE UK'S NEUTRAL INTEREST RATE IS LOWER THAN IT WAS BEFORE.The inflation outlook - speech by Michael Saunders In this speech I want to discuss recent developments in the economy, and the outlook, and offer some thoughts on the appropriate setting of monetary policy. I would like to make several main points. Activity seems to have recovered a bit faster than the central forecast in the May MPR, and risks lie on the side that the output gap will close earlier than previously expected. Some of the recent signs of labour market tightness probably reflect temporary frictions associated with the reopening of the economy, Covid-related uncertainty and furlough. Labour market slack is shrinking but probably not yet used up. Price pressures in global manufactured goods reflect, at least in part, strong global demand for goods, including consumer goods, ICT, and plant and machinery investment. These price pressures may well have some persistent effects on UK CPI inflation, partly because of lags in the pass through to consumer prices but also because the underlying strength in demand and prices for manufactured goods may prove persistent. Even once effects from energy prices fade, the closing output gap and possibility of some persistent effects from global cost pressures point to risks that, with the current poli

U.S. import prices advanced 1.0 percent in June following a 1.4-percent increase in May, the U.S. Bureau of Labor Statistics reported today. Rising prices for fuel and nonfuel ...

Business activity grew at a record-setting pace in New York State, according to firms responding to the July 2021 Empire State Manufacturing Survey. The headline general business ...