Business

Submitted by Mike "Mish" Shedlock

Fed vs. Fed: New York Fed To Issue Its Own GDP Nowcast; Atlanta Fed Too Pessimistic?

It’s Fed vs. Fed in the Nowcasting business. The New York Fed has decided to issue a FRBNY Nowcast, clearly in competition with the Atlanta Fed GDPNow forecast.

The Atlanta Fed has the name GDPNow trademarked.

The Atlanta Fed provides its updates following major economic reports. In contrast, the New York Fed will deliver its version every Friday starting April 15.

Submitted by David Stockman via Contra Corner blog,

As I’ve outlined in recent missives, Japan is at the forefront for Keynesian driven Central Bank monetary policy. Japan was not only the first Central Bank to start ZIRP and QE, it has also launched the single largest QE program in history (a single QE program equal to over 25% of Japan’s GDP).

However, in the last few months, the Head of the Bank of Japan, Haruhiko Kuroda has lost credibility for the markets. Specifically:

1)   The markets only rallied for a day after he announced NIRP.

By EconMatters

We could have a bearish slant to tomorrow`s EIA Report, and some profit taking after today`s rally in the Oil Market. API reports 6.2 Million build in Oil Inventories.

https://www.youtube.com/watch?v=0LykOnsgjYc

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Several months ago, just as the market was tumbling on the back of crashing oil prices and not only energy companies but banks exposed to them via secured loans seemed in peril, we wrote a post titled "Dallas Fed Quietly Suspends Energy Mark-To-Market On Default Contagion Fears" in which we made the following observations: