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Chief economist update: Extraordinarily uncertain outlook
BENJAMIN ONG  |  TUESDAY, 30 JUN 2020
US Federal Reserve chair Jerome Powell has painted an optimistic picture of developments in the US economy while at the same time warning of extraordinary uncertainty. "As the economy reopens, incoming data are beginning to reflect a resumption of economic ...
US GDP to contract 6.5%: Fed
ELIZA BAVIN  |  THURSDAY, 11 JUN 2020
The US Federal Reserve has projected rates will remain near zero through 2022 and GDP will contract 6.5% as a result of COVID-19. The Fed also pledged to maintain at least the current pace of asset purchases, which is around US$80 billion per month. ...
Chief economist update: Don't fight the Fed
BENJAMIN ONG  |  THURSDAY, 11 JUN 2020
Steady all the way ... to 2022. As expected, the US Federal Reserve left the fed funds rate target at 0-0.25% at the conclusion of its 9-10 June FOMC meeting, repeated their commitment "to using its full range of tools to support the U.S. economy ... ...
Fed buys up BlackRock ETFs
ELIZA BAVIN  |  WEDNESDAY, 3 JUN 2020
BlackRock has emerged as the biggest winner of the US Federal Reserve's corporate bond buying program, with its ETFs making up around half of the central bank's purchases. The Fed bought US$1.58 billion in investment grade and high-yield ETFs in May ...
Chief economist update: Better than all the rest
BENJAMIN ONG  |  FRIDAY, 29 MAY 2020
... economic downturn will not be severe as earlier thought." This comes only a day following reports that the US Federal Reserve is looking at implementing yield curve control (to step up its support for the economy); the European Central Bank (ECB) warning ...
Aussie analysts share COVID-19 investment tips
ALLY SELBY  |  THURSDAY, 30 APR 2020
... local market hasn't rebounded as much as its global counterparts as the RBA has not done as much as the US Federal Reserve to bolster asset prices, he said, but our health and fiscal responses have so far been superior. "My guess is that ultimately ...
Chief economist update: COVID-19 eating into jobs
BENJAMIN ONG  |  THURSDAY, 26 MAR 2020
... new-found hope repeat the short burst of confidence generated with every cent of stimulus announced by the US Federal Reserve - from an inter-meeting 50 bps cut in the fed funds rate on March 3, followed by 100bps reduction on March 15 (that effectively ...
US turns to QE, RBA to follow
ELIZA BAVIN  |  MONDAY, 16 MAR 2020
The RBA has signaled it will begin quantitative easing after the US Federal Reserve implemented QE measures overnight and slashed its interest rate. The Fed's QE measures include a US$700 billion bond buying program, as part of its effort to offset ...
Chief economist update: Coronavirus cures climate change
BENJAMIN ONG  |  MONDAY, 16 MAR 2020
... buffer for banks by 150 bp to 1% and said it is prepared to make further rate cuts. These were followed by the US Federal Reserve announcing another "inter-meeting" rate reduction on March 15, this time by a full percentage point to 0-0.25% (following ...
Chief economist update: The corona crash of 2020
BENJAMIN ONG  |  FRIDAY, 13 MAR 2020
... cut some more. The Morrison government recently announced a A$17.6B ($11.4B) economic stimulus package. The US Federal Reserve cut the fed funds rate by 50 bps on 3 March to 1.25% and announced an additional US$1.5 trillion in new liquidity to help address ...
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