yusufizzetmurat/fed-pulse-embedding-caches huggingface dataset:
[2019-08-15] Additional information, including the steps that institutions must complete to be eligible to participate in term deposit operations are available at https://www.frbservices.org/central-bank/reserves-
[2019-08-15] The operation will be conducted as specified in this announcement, Regulation D, and the terms and conditions of the Term Deposit Facility (https://www.frbservices.org/central-bank/reserves-central/te
[2019-08-15] The Federal Reserve plans to continue its previously announced periodic testing of the Term Deposit Facility (TDF) with one operation in August. These operations are aimed at ensuring the operational
[2019-08-15] See the TDF Resource Center for additional details regarding this feature and the terms and conditions for early withdrawal (https://www.frbservices.org/central-bank/reserves-central/term-deposit-faci
[2019-08-21] FOMC minutes can be viewed on the Board's website at http://www.federalreserve.gov/monetarypolicy/fomccalendars.htm
[2019-08-21] The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on July 30-31, 2019.
[2019-08-21] The minutes for each regularly scheduled meeting of the Committee ordinarily are made available three weeks after the day of the policy decision and subsequently are published in the Board's Annual Re
[2019-08-21] Minutes of the Federal Open Market Committee July 30-31, 2019: HTML | PDF
[2019-08-22] On August 22, 2019, the Federal Reserve conducted a floating-rate offering of term deposits through its Term Deposit Facility. The operation offered seven-day term deposits with the rate set equal to
[2019-08-22] The awarded deposits will settle on August 22, 2019, and will mature on August 29, 2019. The operation effective rate will apply to all awarded deposits.
[2019-08-27] The Federal Reserve Board on Tuesday released the minutes of its interest rate meetings from July 1 through July 31, 2019.
[2019-09-18] Financing conditions in consumer credit markets remained generally supportive of growth in consumer spending, al­though supply conditions continued to be tight for subprime credit card borrowers. Cons
[2019-09-18] Financing conditions in the residential mortgage market eased over the intermeeting period. Residential mortgage rates declined less than long-term Treasury yields, as the increase in prepayment risk
[2019-09-18] 2. Attended through the discussion of the review of the monetary policy framework. Return to text
[2019-09-18] The Committee also directs the Desk to engage in dollar roll and coupon swap transactions as necessary to facilitate settlement of the Federal Reserve's agency mortgage-backed securities transactions.
[2019-09-18] Real consumer expenditures appeared to be rising solidly in the third quarter after expanding strongly in the second quarter. Real PCE rose briskly in July, while the components of the nominal retail
[2019-09-18] The Committee directs the Desk to continue rolling over at auction all principal payments from the Federal Reserve's holdings of Treasury securities and to continue reinvesting all principal payments
[2019-09-18] Voting for this action: Jerome H. Powell, John C. Williams, Michelle W. Bowman, Lael Brainard, Richard H. Clarida, Charles L. Evans, and Randal K. Quarles.
[2019-09-18] By unanimous vote, the Committee ratified the Desk's domestic transactions over the intermeeting period. There were no intervention operations in foreign currencies for the System's account during the
[2019-09-18] Participants favoring a modest adjustment to the stance of monetary policy at this juncture cited other risks to the economic outlook that further underscored the case for such a move. As their discus
[2019-09-18] In determining the timing and size of future adjustments to the target range for the federal funds rate, the Committee will assess realized and expected economic conditions relative to its maximum emp
[2019-09-18] The manager pro tem turned next to a discussion of money market conditions. Money markets were stable over most of the period, and the reduction in the interest on excess reserves (IOER) rate followin
[2019-09-18] Real nonresidential private fixed investment looked to be declining further in the third quarter. Nominal shipments of nondefense capital goods excluding aircraft decreased in July, and forward-lookin
[2019-09-18] David Altig,2 Kartik B. Athreya, Michael Dotsey, Jeffrey Fuhrer,2 Sylvain Leduc, Simon Potter,7 and Ellis W. Tallman, Executive Vice Presidents, Federal Reserve Banks of Atlanta, Richmond, Philadelphi
[2019-09-18] Fabian Winkler,2 Senior Economist, Division of Monetary Affairs, Board of Governors
[2019-09-18] Information received since the Federal Open Market Committee met in July indicates that the labor market remains strong and that economic activity has been rising at a moderate rate. Job gains have be
[2019-09-18] Several participants favored maintaining the existing target range for the federal funds rate at this meeting. These participants suggested that the baseline projection for the economy had changed ver
[2019-09-18] Thomas I. Barkin, Raphael W. Bostic, and Mary C. Daly, Presidents of the Federal Reserve Banks of Richmond, Atlanta, and San Francisco, respectively
[2019-09-18] Eric Belsky,2 Director, Division of Consumer and Community Affairs, Board of Governors; Matthew J. Eichner,3 Director, Division of Reserve Bank Operations and Payment Systems, Board of Governors; Mich
[2019-09-18] 6. Attended the discussion of the review of the monetary policy framework through the end of the meeting. Return to text
[2019-09-18] Members agreed that, in determining the timing and size of future adjustments to the target range for the federal funds rate, the Committee would assess realized and expected economic conditions relat
[2019-09-18] Rochelle M. Edge, Eric M. Engen, William Wascher, Jonathan L. Willis, and Beth Anne Wilson, Associate Economists
[2019-09-18] Real residential investment seemed to be picking up a little in the third quarter after declining over the previous year and a half. Starts of new single-family homes were higher in July and August th
[2019-09-18] 7. Attended opening remarks for Tuesday session only. Return to text
[2019-09-18] Committee Policy Action In their discussion of monetary policy for this meeting, members noted that information received since the July meeting indicated that the labor market remained strong and that
[2019-09-18] Jon Faust, Senior Special Adviser to the Chair, Office of Board Members, Board of Governors
[2019-09-18] The dollar appreciated against emerging market currencies but was little changed, on balance, against AFE currencies, leaving the broad dollar index slightly higher. Emerging market sovereign bond spr
[2019-09-18] In their discussion of inflation developments, participants noted that, despite a recent firming in the incoming data, readings on overall and core PCE inflation had continued to run below the Committ
[2019-09-18] At the conclusion of the discussion, the Committee voted to authorize and direct the Federal Reserve Bank of New York, until instructed otherwise, to execute transactions in the SOMA in accordance wit
[2019-09-18] Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In light of the implications of global developments for the economic outlook as well as mut
[2019-09-18] Andrew Figura and John M. Roberts, Deputy Associate Directors, Division of Research and Statistics, Board of Governors; Christopher J. Gust, Deputy Associate Director, Division of Monetary Affairs, Bo
[2019-09-18] Ann E. Misback, Secretary, Office of the Secretary, Board of Governors
[2019-09-18] Participants generally agreed with the staff's analysis that the risk of future ELB episodes had likely increased over time, and that future ELB episodes and the reduced effect of resource utilization
[2019-09-18] David López-Salido, Associate Director, Division of Monetary Affairs, Board of Governors; John J. Stevens, Associate Director, Division of Research and Statistics, Board of Governors
[2019-09-18] Participants generally agreed that the current framework also served the Committee well by providing a strong commitment to achieving the Committee's maximum-employment and symmetric inflation objecti
[2019-09-18] Participants generally judged that downside risks to the outlook for economic activity had increased somewhat since their July meeting, particularly those stemming from trade policy uncertainty and co
[2019-09-18] In the commercial real estate (CRE) sector, financing conditions remained generally accommodative. Bank CRE loan growth slowed moderately since the second quarter, driven by slower growth in loans sec
[2019-09-18] Despite the volatility in many domestic and global financial markets over the intermeeting period, conditions in domestic short-term funding markets remained stable until the Monday before the Septemb
[2019-09-18] Developments in Financial Markets and Open Market Operations The manager pro tem first discussed developments in global financial markets over the intermeeting period. Global financial markets were vo
[2019-09-18] Martin Bodenstein,2 Section Chief, Division of International Finance, Board of Governors
[2019-09-18] It was agreed that the next meeting of the Committee would be held on Tuesday–Wednesday, October 29–30, 2019. The meeting adjourned at 10:40 a.m. on September 18, 2019.
[2019-09-18] With regard to the postmeeting statement, members agreed to update the language of the Committee's description of incoming data to acknowledge the weakening in investment spending and in U.S. exports,
[2019-09-18] Staff Economic Outlook The projection for U.S. economic activity prepared by the staff for the September FOMC meeting was little changed in the near term; real GDP growth was still forecast to be slow
[2019-09-18] Linda Robertson, Assistant to the Board, Office of Board Members, Board of Governors
[2019-09-18] Participants judged that conditions in the labor market remained strong, with the unemployment rate near historical lows and continued solid job gains, on average, in recent months. The labor force pa
[2019-09-18] Total real government purchases appeared to be rising at a slower pace in the third quarter than in the second quarter. Federal defense spending over July and August decelerated, and federal hiring of
[2019-09-18] Many participants also cited the level of inflation or inflation expectations as justifying a reduction of 25 basis points in the federal funds rate at this meeting. Inflation had generally fallen sho
[2019-09-18] PRESENT: Jerome H. Powell, Chair John C. Williams, Vice Chair Michelle W. Bowman Lael Brainard James Bullard Richard H. Clarida Charles L. Evans Esther L. George Randal K. Quarles Eric Rosengren
[2019-09-18] Participants' Views on Current Conditions and the Economic Outlook In conjunction with this FOMC meeting, members of the Board of Governors and Federal Reserve Bank presidents submitted their projecti
[2019-09-18] Zeynep Senyuz,4 Assistant Director, Division of Monetary Affairs, Board of Governors
[2019-09-18] Highly elevated repo rates passed through to rates in unsecured markets. Federal Home Loan Banks reportedly scaled back their lending in the federal funds market in order to maintain some liquidity in
[2019-09-18] Staff Review of the Economic Situation The information available for the September 17–18 meeting indicated that labor market conditions remained strong and that real gross domestic product (GDP) appea
[2019-09-18] James A. Clouse, Secretary Matthew M. Luecke, Deputy Secretary David W. Skidmore, Assistant Secretary Michelle A. Smith, Assistant Secretary Mark E. Van Der Weide, General Counsel Michael Held, Deputy
[2019-09-18] Hess T. Chung,2 Group Manager, Division of Research and Statistics, Board of Governors
[2019-09-18] Participants noted that there had been little change in their economic outlook since the July meeting and that incoming data had continued to suggest that the pace of economic expansion was consistent
[2019-09-18] With regard to the current monetary policy framework, participants agreed that this framework served the Committee well in the aftermath of the financial crisis. A number of participants noted that th
[2019-09-18] Shaghil Ahmed, Senior Associate Director, Division of International Finance, Board of Governors
[2019-09-18] In their consideration of the monetary policy options at this meeting, most participants believed that a reduction of 25 basis points in the target range for the federal funds rate would be appropriat
[2019-09-18] With this adjustment to policy, those members who supported the policy action sought to make the overall stance of monetary policy most consistent with helping to offset the effects on aggregate deman
[2019-09-18] David H. Small,6 Project Manager, Division of Monetary Affairs, Board of Governors
[2019-09-18] Nominal Treasury yields decreased, on net, over the intermeeting period, with longer-term yields falling the most. The spread between 10‑year and 3-month Treasury yields became a bit more negative, wh
[2019-09-18] Participants discussed developments in the manufacturing and the agricultural sectors of the U.S. economy. Manufacturing production remained lower than at the beginning of the year, and recent indicat
[2019-09-18] Penelope A. Beattie,5 Assistant to the Secretary, Office of the Secretary, Board of Governors
[2019-09-18] Daniel M. Covitz, Deputy Director, Division of Research and Statistics, Board of Governors; Michael T. Kiley, Deputy Director, Division of Financial Stability, Board of Governors; Trevor A. Reeve, Dep
[2019-09-18] Industrial production increased modestly, on net, over July and August, but production remained notably lower than at the beginning of the year. Automakers' assembly schedules indicated that the produ
[2019-09-18] In their discussion of the business sector, participants saw trade tensions and concerns about the global outlook as the main factors weighing on business investment, exports, and manufacturing produc
[2019-09-18] In their discussion of the outlook for inflation, participants generally agreed that, under appropriate policy, inflation would move up to the Committee's 2 percent objective over the medium term. Par
[2019-09-18] With regard to developments in financial markets, participants noted that longer-term U.S. Treasury rates had been volatile over the intermeeting period but, on net, had registered a sizable decline.
[2019-09-18] Jonas Arias,2 Thorsten Drautzburg,2 and Leonardo Melosi,2 Senior Economists, Federal Reserve Banks of Philadelphia, Philadelphia, and Chicago, respectively
[2019-09-18] Even after the partial rebound in September, market- and survey-based indicators of policy rate expectations suggested that investors viewed it as very likely that the Committee would ease policy furt
[2019-09-18] Patrick Harker, Robert S. Kaplan, Neel Kashkari, Loretta J. Mester, and Michael Strine, Alternate Members of the Federal Open Market Committee
[2019-09-18] Antulio Bomfim, Jane E. Ihrig, and Edward Nelson, Senior Advisers, Division of Monetary Affairs, Board of Governors; Jeremy B. Rudd, Senior Adviser, Division of Research and Statistics, Board of Gover
[2019-09-18] Early in the intermeeting period, bond yields in the advanced foreign economies (AFEs) plunged and foreign equities declined notably following an increase in U.S.–China trade tensions. Some weakness i
[2019-09-18] Joshua Gallin, Special Adviser to the Chair, Office of Board Members, Board of Governors
[2019-09-18] Total nonfarm payroll employment expanded at a solid pace in July and August, al­though at a slower rate than in the first half of the year. (Separately, the Bureau of Labor Statistics' preliminary es
[2019-09-18] Jonathan E. Goldberg, Edward Herbst,2 and Benjamin K. Johannsen, Principal Economists, Division of Monetary Affairs, Board of Governors
[2019-09-18] David Andolfatto, Marc Giannoni, Evan F. Koenig,2 Paula Tkac, and Mark L.J. Wright, Senior Vice Presidents, Federal Reserve Banks of St. Louis, Dallas, Dallas, Atlanta, and Minneapolis, respectively
[2019-09-18] The staff's forecast of total PCE price inflation for this year was revised down somewhat, reflecting slightly lower projected paths for consumer food and energy prices, along with a little lower fore
[2019-09-18] The staff continued to view the uncertainty around its projections for real GDP growth, the unemployment rate, and inflation as generally similar to the average of the past 20 years. Moreover, the sta
[2019-09-18] Financing conditions for nonfinancial businesses remained accommodative. Overall issuance of corporate bonds was solid in August, driven by resilient investment-grade issuance. While speculative-grade
[2019-09-18] Fernando Duarte,2 Financial Economist, Federal Reserve Bank of New York
[2019-09-18] Participants agreed that the labor market had remained strong over the intermeeting period and that economic activity had risen at a moderate rate. Job gains had been solid, on average, in recent mont
[2019-09-18] Although ensuring inflation outcomes averaging 2 percent over time was seen as important, many participants noted that the illustrated makeup strategies delivered only modest benefits in the staff's m
[2019-09-18] Randall A. Williams,2 Senior Information Manager, Division of Monetary Affairs, Board of Governors
[2019-09-18] A couple of participants indicated their preference for a 50 basis point cut in the federal funds rate at this meeting. These participants suggested that a larger policy move would help reduce the ris
[2019-09-18] Total consumer prices, as measured by the PCE price index, increased 1.4 percent over the 12 months ending in July. This increase was slower than a year earlier, as core PCE price inflation (which exc
[2019-09-18] Participants generally viewed the baseline economic outlook as positive and indicated that their views of the most likely outcomes for economic activity and inflation had changed little since the July
[2019-09-18] The vote also encompassed approval of the statement below to be released at 2:00 p.m.:
[2019-09-18] A joint meeting of the Federal Open Market Committee and the Board of Governors was held in the offices of the Board of Governors of the Federal Reserve System in Washington, D.C., on Tuesday, Septemb
[2019-09-18] Kenneth C. Montgomery, First Vice President, Federal Reserve Bank of Boston
[2019-09-18] Achilles Sangster II, Information Management Analyst, Division of Monetary Affairs, Board of Governors
[2019-09-18] Jonas Fisher, Giovanni Olivei, Giorgio Topa, and Patricia Zobel, Vice Presidents, Federal Reserve Banks of Chicago, Boston, New York, and New York, respectively
[2019-09-18] With regard to monetary policy beyond this meeting, participants agreed that policy was not on a preset course and would depend on the implications of incoming information for the evolution of the eco
[2019-09-18] Consistent with the Committee's decision to lower the target range for the federal funds rate to 1-3/4 to 2 percent, the Board of Governors voted unanimously to lower the interest rate paid on require
[2019-09-18] Participants continued to discuss the benefits of the Committee's review of the monetary policy framework as well as the Committee's Statement on Longer-Run Goals and Monetary Policy Strategy, which a
[2019-09-18] The nominal U.S. international trade deficit remained about unchanged in June before narrowing in July. Exports, which had been soft over most of the past year, declined sharply in June but partially
[2019-09-18] "Effective September 19, 2019, the Federal Open Market Committee directs the Desk to undertake open market operations as necessary to maintain the federal funds rate in a target range of 1-3/4 to 2 pe
[2019-09-18] 1. The Federal Open Market Committee is referenced as the "FOMC" and the "Committee" in these minutes. Return to text
[2019-09-18] 4. Attended the discussion of developments in financial markets and open market operations. Return to text
[2019-09-18] Participants agreed that developments in money markets over recent days implied that the Committee should soon discuss the appropriate level of reserve balances sufficient to support efficient and eff
[2019-09-18] 3. Attended through the discussion of developments in financial markets and open market operations. Return to text
[2019-09-18] President Bullard dissented because he believed that lowering the target range for the federal funds rate by 50 basis points at this time would provide insurance against further declines in expected i
[2019-09-18] Brian M. Doyle, Wendy E. Dunn, Joseph W. Gruber, Ellen E. Meade, and Ivan Vidangos, Special Advisers to the Board, Office of Board Members, Board of Governors
[2019-09-18] The staff also illustrated the properties of "makeup" strategies using model simulations. Under such strategies, policymakers would promise to make up for past inflation shortfalls with a sustained ac
[2019-09-18] Review of Monetary Policy Strategy, Tools, and Communication Practices Committee participants continued their discussions related to the ongoing review of the Federal Reserve's monetary policy strateg
[2019-09-18] Notation Vote By notation vote completed on August 20, 2019, the Committee unanimously approved the minutes of the Committee meeting held on July 30–31, 2019.
[2019-09-18] Participants' Discussion of Recent Money Market Developments The manager pro tem provided a summary of the most recent developments in money markets. Open market operations conducted on the previous d
[2019-09-18] Minutes of the Federal Open Market Committee September 17â18, 2019 A joint meeting of the Federal Open Market Committee and the Board of Governors was held in the offices of the Board of Governors o
[2019-09-18] Foreign economic growth remained subdued in the second quarter. Growth picked up in Canada as oil production rebounded, but growth slowed sharply in Europe amid a downturn in manufacturing activity an
[2019-09-18] Staff Review of the Financial Situation Financial market developments over the intermeeting period were driven by an escalation in international trade tensions, growing concerns about the global econo
[2019-09-18] Voting for the monetary policy action were Jerome H. Powell, Chair, John C. Williams, Vice Chair; Michelle W. Bowman; Lael Brainard; Richard H. Clarida; Charles L. Evans; and Randal K. Quarles. Voting
[2019-09-18] Measures of expectations of the near- and medium-term path for the federal funds rate were particularly sensitive to news about U.S.–China trade tensions, while FOMC communications had only modest eff
[2019-09-18] James Hebden,2 Senior Technology Analyst, Division of Monetary Affairs, Board of Governors
[2019-09-18] Voting against this action: James Bullard, Esther L. George, and Eric Rosengren.
[2019-09-18] Broad stock price indexes decreased slightly, on net, over the intermeeting period amid heightened volatility. The escalation of trade tensions between China and the United States weighed on equity pr
[2019-09-18] Participants also discussed a number of challenges associated with makeup strategies. Many participants expressed reservations with the makeup strategies analyzed by the staff. Some participants raise
[2019-09-19] The Federal Reserve Board has approved actions on Thursday by the Boards of Directors of the Federal Reserve Banks of Boston, New York, Cleveland, Richmond, Atlanta, St. Louis, and Kansas City, decrea
[2019-09-20] The Federal Reserve Board has approved an action by the Board of Directors of the Federal Reserve Bank of Philadelphia decreasing the discount rate (the primary credit rate) at the Bank from 2‑3/4 per
[2019-10-04] Consistent with its January 2019 Statement Regarding Monetary Policy Implementation and Balance Sheet Normalization, the Committee reaffirms its intention to implement monetary policy in a regime in w
[2019-10-09] Minutes of the Federal Open Market Committee September 17-18, 2019: HTML | PDF
[2019-10-09] FOMC minutes can be viewed on the Board's website at http://www.federalreserve.gov/monetarypolicy/fomccalendars.htm