Archive for the ‘Met’ tag
Chicago Business Barometer Approaches Growth Levels at 49.6 in June
The ISM-Chicago business barometer remained below 50 for the fifth
consecutive month in June, yet improved more than expected, coming in at
49.6, against expectations that it would fall to 48.0 from 49.1 in
May.
“The threat of an economic recession spreading from the
housing and credit sectors has yet to materialize, but
economic growth remains negligible at best,” said spokesman Jack Bishop
in the report’s summary. “Perhaps the mantra of fear of a recession
has…”
Consumer Confidence Plummets to Lowest Level Since 1992
The Conference Board’s consumer confidence index for
June tumbled to levels not seen since 1992 at 50.4 in Tuesday’s report,
led by a near 10-point decline in the present situation component.
Economists were looking for a moderate decline to 56.0.
The previous month’s reading of 57.2 was revised upwards to 58.1. The
three-month average for consumer confidence is now at 57.1, down from
62.3 last month. One year ago, the index stood at 105.3…
Fed’s Plosser Says Central Banks Must Exercise Caution as Lenders of Last Resort
Philadelphia Fed President Charles Plosser said the
Federal Reserve must follow rules and exercise caution
as a lender of last resort.
Speaking at the Society for Financial Econometrics Inaugural
Conference in New York, Plosser said benchmarks may be needed to properly
determine situations that qualify as system risks and that price
stability is key to economic growth.
“I do believe…that lender of last resort policies should take a
lesson from…