Fiscal policy

Christine Lagarde: Hearing of the Committee on Economic and Monetary Affairs of the European Parliament

Retrieved on: 
Wednesday, November 30, 2022
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I will also address the two topics selected by this Committee for todays hearing, namely the global monetary policy cycle and inflation differentials.

Key Points: 
  • I will also address the two topics selected by this Committee for todays hearing, namely the global monetary policy cycle and inflation differentials.
  • The shock hit just as we were coming out of the pandemic and has continued to cause economic disruptions.
  • [1]
    Given our proximity to the conflict and our dependence on energy imports, Europe has been hit particularly hard.
  • Higher energy costs have been a key driver of euro area inflation, which in October reached double digits for the first time since the start of the monetary union.
  • [2] *
    This rise in inflation affects everyone, but some are feeling it more than others.
  • We are monitoring these divergences carefully and expect them to normalise as the impact of these shocks fades over time.
  • The different shocks over the past year have also had an impact on real economic activity.
  • [4]
    The European response to the war has garnered broad support among citizens and optimism about the future of the EU has increased.
  • While monetary policy is geared towards bringing inflation back to our medium-term target, the economic outlook will also depend on the actions taken by other stakeholders.
  • I encourage EU policymakers, including this Parliament, to soon reach a viable and broadly shared agreement to help strengthen the foundations of our Economic and Monetary Union.
  • E. and Koester, G. (2022), The role of demand and supply in underlying inflation decomposing HICPX inflation into components,
    Economic Bulletin, Issue 7, European Central Bank.
  • See European Parliament Spring 2022 Survey: Rallying around the European flag - Democracy as anchor point in times of crisis.

Christine Lagarde: Monetary policy in a new environment

Retrieved on: 
Saturday, November 26, 2022
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And this has implications for the focus of macroeconomic policy in the years to come.

Key Points: 
  • And this has implications for the focus of macroeconomic policy in the years to come.
  • And in this context, swings in demand caused by the closing and reopening of the economy have hit a wall.
  • [3] And in this environment, it is uncertain whether a seamless expansion of supply will continue and how global demand will be affected.
  • For monetary policy, this changing environment creates considerable challenges.
  • That is why we have been raising rates at our fastest pace ever by 200 basis points in our last three policy meetings.
  • But we also need to normalise our other policy tools and so reinforce the impulse from our rate policy.
  • But now the environment has changed completely and we need to ensure that the lower cost of funding the TLTRO created for banks does not impede monetary transmission when policy normalisation is required.
  • Similarly, large-scale asset purchases were necessary to expand the policy stance when interest rates were close to the lower bound.
  • In parallel, our tools for preserving the orderly transmission of monetary policy notably flexible reinvestments under the pandemic emergency purchase programme and the new transmission protection instrument will remain in place.
  • Monetary policy will ensure a timely return of inflation to our medium-term target.
  • But the economic outlook will also depend on the alignment between monetary policy and other actors.
  • In the current environment of high inflation, fiscal policy needs to be temporary, targeted and tailored.
  • Looking further ahead, while monetary policy can steer demand, it cannot remove existing constraints on economic growth.
  • The effects of this shift are uncertain, but the duty of monetary policy is not.
  • But if we want to rebuild our supply capacity and strengthen domestic sources of growth, other policy areas need to refocus.
  • International Monetary Fund (2022), Near-term Macroeconomic Impact of Decarbonization Policies,
    World Economic Outlook, October.
  • Lagarde, C. (2022), Monetary policy in a high inflation environment: commitment and clarity, lecture organised by Eesti Pank and dedicated to Professor Ragnar Nurkse, Tallinn, 4 November.

Luis de Guindos: Interview with Politico

Retrieved on: 
Friday, November 11, 2022
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We will continue raising rates to a level that ensures inflation will come back into line with our definition of price stability.

Key Points: 
  • We will continue raising rates to a level that ensures inflation will come back into line with our definition of price stability.
  • That level will depend on the data that we receive, the evolution of inflation, economic conditions, demand, and energy prices.
  • Being data-dependent is the best approach in times of very high uncertainty such as we are living through now.
  • *
    We are mainly guided by inflation and if you look at its evolution in October, you can see it is accelerating.
  • My opinion is that inflation will hover around its present level of 10.7% over the next few months.
  • It will start to decline in the first half of next year, but, on average, headline and core inflation will remain very high.
  • If you say very high, does that mean higher than the 5.5% the ECB currently projects for next year?
  • I think the trend will be downwards in the first half of next year, even if still high on average.
  • By looking at the trajectory of energy prices, we can explain an important part of the evolution of headline inflation.
  • *Can you give me a sense of how deep a recession you expect to see next year in the eurozone?
  • In my view, there is a high probability that quarterly growth in the fourth quarter of this year will be negative.
  • The first instrument that we have used, because we believe it to be the most efficient one, is interest rates.
  • QT is also part of the normalisation process of monetary policy and we will proceed with a lot of prudence and caution.
  • *Still there are concerns that once you start reducing your balance sheet this could have a major impact on financial markets.
  • These institutions have taken a lot of risk in terms of leverage and illiquid assets in their portfolios.

Finixio Bullish on Crypto and Increases Acquisitions & Investments

Retrieved on: 
Friday, April 1, 2022
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Major companies that partner with Finixio now include Binance, eToro, Crypto.com and one of the world's leading crypto exchanges, Coinbase.

Key Points: 
  • Major companies that partner with Finixio now include Binance, eToro, Crypto.com and one of the world's leading crypto exchanges, Coinbase.
  • Alongside many other venture capital companies, Finixio has announced that it is very bullish on the future of crypto.
  • According to Grunwerg, CEO of Finixio: "As a company, we're extremely bullish on the future of crypto.
  • Backing this bullish philosophy, Finixio is on track to be one of the fastest-growing marketing companies in the crypto industry.

Finixio Bullish on Crypto and Increases Acquisitions & Investments

Retrieved on: 
Friday, April 1, 2022
Crypto.com, Bitcoin, Crypto, Adoption, Fiscal policy, Population, Blockchain, Non-fungible token, Growth, Adult, PR, Tin, Research, Fiscal, CEO, Philosophy, NFT, Industry, Digital, Midas, Mark (given name), News, Awareness, EToro, Acquisition, Cryptocurrency, Public relations, Metaverse, Coinbase, Defi, Binance

Major companies that partner with Finixio now include Binance, eToro, Crypto.com and one of the world's leading crypto exchanges, Coinbase.

Key Points: 
  • Major companies that partner with Finixio now include Binance, eToro, Crypto.com and one of the world's leading crypto exchanges, Coinbase.
  • Alongside many other venture capital companies, Finixio has announced that it is very bullish on the future of crypto.
  • According to Grunwerg, CEO of Finixio: "As a company, we're extremely bullish on the future of crypto.
  • Backing this bullish philosophy, Finixio is on track to be one of the fastest-growing marketing companies in the crypto industry.

Media Guide: Mackenzie Investments Market Commentary Spokesperson Availability

Retrieved on: 
Thursday, March 24, 2022
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Mackenzie Investments has a diverse team of knowledgeable experts available to provide insight and commentary on a wide variety of relevant investing related topics and areas, including:

Key Points: 
  • Mackenzie Investments has a diverse team of knowledgeable experts available to provide insight and commentary on a wide variety of relevant investing related topics and areas, including:
    Mackenzie Spokespeople Who Are Available Include:
    Jules is responsible for providing in-depth economic analysis and investment research.
  • Brent can speak to a wide variety of topics, including:
    Steve leads a team of approximately 70 investment professionals who specialize in institutional and retail fixed income and multi-asset mandates at Mackenzie Investments.
  • Founded in 1967, Mackenzie is a global asset manager with offices across Canada as well as in Boston, Dublin, London, Hong Kong and Beijing.
  • Mackenzie is a member of IGM Financial Inc. (TSX: IGM), one of Canada's premier financial services companies.

MacKay Municipal Managers Announces Top Five Municipal Market Insights For 2022

Retrieved on: 
Thursday, January 13, 2022
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PRINCETON, N.J., Jan. 13, 2022 /PRNewswire/ --MacKay Municipal Managers, the municipal bond team of fixed income and equity investment management firm MacKay Shields LLC, today published its top five insights for the municipal bond market in 2022.

Key Points: 
  • PRINCETON, N.J., Jan. 13, 2022 /PRNewswire/ --MacKay Municipal Managers, the municipal bond team of fixed income and equity investment management firm MacKay Shields LLC, today published its top five insights for the municipal bond market in 2022.
  • Active management should differentiate performance outcomes in an expected lackluster 2022 municipal market.
  • As a result, the price correlation between taxable municipal bonds and other taxable market segments can decline.
  • In 2022, expected higher taxable municipal supply and trading volumes will likely attract new, non-traditional investors looking for low-correlation, high quality assets.

Q4 Update to 2021 Economic Outlook Forecasts 13.2% Expansion in Equipment and Software Investment Growth and 5.3% GDP Growth

Retrieved on: 
Wednesday, October 13, 2021
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Highlights from the Q4 update to the 2021 Outlook include:

Key Points: 
  • Highlights from the Q4 update to the 2021 Outlook include:
    Equipment and software investment rose 12.7 percent (annualized) in Q2 and is well above its pre-pandemic level.
  • The Foundation-Keybridge U.S. Equipment & Software Investment Momentum Monitor , which is released in conjunction with the Economic Outlook, tracks 12 equipment and software investment verticals.
  • The Foundation produces the Equipment Leasing & Finance U.S. Economic Outlook report in partnership with economic and public policy consulting firm Keybridge Research.
  • The Q4 report is the third update to the 2021 Economic Outlook and will be followed by the publication of the 2022 Economic Outlook in December.

Nate Morris Inducted Into Kentucky Chamber of Commerce

Retrieved on: 
Friday, October 1, 2021
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Lexington, Kentucky, Oct. 01, 2021 (GLOBE NEWSWIRE) -- Rubicon Founder & CEO, Nate Morris, addressed the Kentucky Chamber of Commerce today, on the event of his induction.

Key Points: 
  • Lexington, Kentucky, Oct. 01, 2021 (GLOBE NEWSWIRE) -- Rubicon Founder & CEO, Nate Morris, addressed the Kentucky Chamber of Commerce today, on the event of his induction.
  • Morris discussed the economic opportunities in Kentucky,as well as Rubicon's recent decision to announce its global headquarters in Lexington.
  • Nate Morris is the chairman and founder of Lexington, Kentucky-based Morris Industries , and its signature asset, Rubicon, a widely acclaimed software company focused on waste and recycling.
  • From its beginnings more than 75 years ago, the Kentucky Chamber of Commerce has evolved into the premier business association in the state.

American CryptoFed DAO Files with the SEC to Be a Public Company

Retrieved on: 
Friday, September 17, 2021
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While Form S-1 will not become effective until SEC's declaration, Form 10 becomes effective automatically in 60 days subjecting CryptoFed to SEC's periodic reporting requirements and making CryptoFed the first legally recognized DAO in the USA as well as the first public DAO in the world.

Key Points: 
  • While Form S-1 will not become effective until SEC's declaration, Form 10 becomes effective automatically in 60 days subjecting CryptoFed to SEC's periodic reporting requirements and making CryptoFed the first legally recognized DAO in the USA as well as the first public DAO in the world.
  • Ducat, an inflation and deflation protected stable token, is managed to be stable to purchasing power through time.
  • "CryptoFed voluntarily assumes the mantle of price stability and maximum employment known collectively as the 'Dual Mandate' for the Fed.
  • "CryptoFed has innovated two native tokens, Locke and Ducat, 'to jumpstart a network and to motivate a network overtime'.