yusufizzetmurat/fed-pulse-embedding-caches huggingface dataset:
[2023-03-22] Regarding the outlook for inflation in the United States, market-based measures of inflation compensation over shorter horizons rose over the period, al­though compensation retraced a good portion of
[2023-03-22] Penelope A. Beattie,5 Section Chief, Office of the Secretary, Board
[2023-03-22] Becky C. Bareford, First Vice President, Federal Reserve Bank of Richmond
[2023-03-22] Jennifer J. Burns,5 Deputy Director, Division of Supervision and Regulation, Board
[2023-03-22] Notation Vote By notation vote completed on February 21, 2023, the Committee unanimously approved the minutes of the Committee meeting held on January 31–February 1, 2023.
[2023-03-22] Christine Graham,5 Special Adviser to the Board, Division of Board Members, Board
[2023-03-22] Stephanie E. Curcuru, Deputy Director, Division of International Finance, Board
[2023-03-22] Wendy E. Dunn, Adviser, Division of Research and Statistics, Board
[2023-03-22] Attendance Jerome H. Powell, Chair John C. Williams, Vice Chair Michael S. Barr Michelle W. Bowman Lisa D. Cook Austan D. Goolsbee Patrick Harker Philip N. Jefferson Neel Kashkari Lorie K. Logan Chris
[2023-03-22] The credit quality of businesses and households was largely stable over the intermeeting period. However, measures of credit performance showed some signs of weakening. Leveraged loan credit quality d
[2023-03-22] Michael T. Kiley, Deputy Director, Division of Financial Stability, Board
[2023-03-22] Real GDP growth seemed to be expanding at a modest pace in the first quarter. Gains in consumer spending had picked up in recent months, but growth in business fixed investment was slowing and residen
[2023-03-22] The U.S. banking system is sound and resilient. Recent developments are likely to result in tighter credit conditions for households and businesses and to weigh on economic activity, hiring, and infla
[2023-03-22] Krista Schwarz, Principal Economist, Division of Monetary Affairs, Board
[2023-03-22] Kartik B. Athreya, Executive Vice President, Federal Reserve Bank of Richmond
[2023-03-22] ï»¿ The Fed - Monetary Policy: Skip to main content An official website of the United States Government Here's how you know Official websites use .gov A .gov website belongs to an official government
[2023-03-22] Minutes of the Federal Open Market Committee March 21â22, 2023 A joint meeting of the Federal Open Market Committee and the Board of Governors of the Federal Reserve System was held in the offices o
[2023-03-22] Byron Lutz, Deputy Associate Director, Division of Research and Statistics, Board
[2023-03-22] David Altig, Executive Vice President, Federal Reserve Bank of Atlanta
[2023-03-22] A joint meeting of the Federal Open Market Committee and the Board of Governors of the Federal Reserve System was held in the offices of the Board of Governors on Tuesday, March 21, 2023, at 10:00 a.m
[2023-03-22] Several participants noted that, in their policy deliberations, they considered whether it would be appropriate to hold the target range steady at this meeting. They noted that doing so would allow mo
[2023-04-12] The Federal Reserve on Wednesday released the minutes of the Federal Open Market Committee meeting that was held on March 21–22, 2023.
[2023-04-12] Minutes of the Federal Open Market Committee March 21–22, 2023: HTML | PDF
[2023-04-12] The minutes for each regularly scheduled meeting of the Committee ordinarily are published three weeks after the day of the policy decision. The descriptions of economic and financial conditions conta
[2023-04-12] For media inquiries, e-mail [email protected] or call 202-452-2955.
[2023-05-03] Minutes of the Federal Open Market Committee May 2-3, 2023 A joint meeting of the Federal Open Market Committee and the Board of Governors of the Federal Reserve System was held in the offices of the
[2023-05-03] Economic activity expanded at a modest pace in the first quarter. Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated. The U.S. banking
[2023-05-03] ï»¿ The Fed - Monetary Policy: Skip to main content An official website of the United States Government Here's how you know Official websites use .gov A .gov website belongs to an official government
[2023-06-14] ï»¿ The Fed - Monetary Policy: Skip to main content An official website of the United States Government Here's how you know Official websites use .gov A .gov website belongs to an official government
[2023-06-14] Minutes of the Federal Open Market Committee June 13â14, 2023 A joint meeting of the Federal Open Market Committee and the Board of Governors of the Federal Reserve System was held in the offices of
[2023-06-14] Recent indicators suggest that economic activity has continued to expand at a modest pace. Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains el
[2023-07-26] ï»¿ The Fed - Monetary Policy: Skip to main content An official website of the United States Government Here's how you know Official websites use .gov A .gov website belongs to an official government
[2023-07-26] Recent indicators suggest that economic activity has been expanding at a moderate pace. Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains eleva
[2023-07-26] Minutes of the Federal Open Market Committee July 25-26, 2023 A joint meeting of the Federal Open Market Committee and the Board of Governors of the Federal Reserve System was held in the offices of t
[2023-09-20] Minutes of the Federal Open Market Committee September 19-20, 2023 A joint meeting of the Federal Open Market Committee and the Board of Governors of the Federal Reserve System was held in the offices
[2023-09-20] ï»¿ The Fed - Monetary Policy: Skip to main content An official website of the United States Government Here's how you know Official websites use .gov A .gov website belongs to an official government
[2023-09-20] Recent indicators suggest that economic activity has been expanding at a solid pace. Job gains have slowed in recent months but remain strong, and the unemployment rate has remained low. Inflation rem
[2023-11-01] Recent indicators suggest that economic activity expanded at a strong pace in the third quarter. Job gains have moderated since earlier in the year but remain strong, and the unemployment rate has rem
[2023-11-01] Minutes of the Federal Open Market Committee October 31âNovember 1, 2023 A joint meeting of the Federal Open Market Committee and the Board of Governors of the Federal Reserve System was held in the
[2023-11-01] ï»¿ The Fed - Monetary Policy: Skip to main content An official website of the United States Government Here's how you know Official websites use .gov A .gov website belongs to an official government
[2023-12-13] ï»¿ The Fed - Monetary Policy: Skip to main content An official website of the United States Government Here's how you know Official websites use .gov A .gov website belongs to an official government
[2023-12-13] Minutes of the Federal Open Market Committee December 12â13, 2023 A joint meeting of the Federal Open Market Committee and the Board of Governors of the Federal Reserve System was held in the office
[2023-12-13] Recent indicators suggest that growth of economic activity has slowed from its strong pace in the third quarter. Job gains have moderated since earlier in the year but remain strong, and the unemploym
[2024-01-01] similar developments had been seen at the start of the tightening cycle, when survey results had lagged the forward curves in the euro area and the united states for several months.
[2024-01-01] in relation to this, some members expressed the recognition that, with regard to private consumption, it was important to examine household income more broadly and give due attention to differences be
[2024-01-01] gdp and market sector output growth were both expected to pick up and be positive over the first half of the year.
[2024-01-01] the revised forecast was for inflation to take a little longer than previously thought to return sustainably to target.
[2024-01-01] residential investment growth is also projected to rise as strong demand for housing lifts sales and spending on renovations.
[2024-01-01] members assessed that overall labour market conditions nevertheless remained a little tighter than was consistent with sustained full employment and inflation at target.
[2024-01-01] this was consistent with the staff’s assessment that aggregate demand remains above the economy’s supply potential.
[2024-01-01] most major foreign central banks kept their policy rates unchanged over the intermeeting period and emphasized the need for greater confidence that inflation was falling back to target before easing p
[2024-01-01] however, the timing and pace of further reductions in the policy rate will be guided by incoming information and our assessment of its implications for the inflation outlook.
[2024-01-01] governing council is carefully assessing these opposing forces on inflation.
[2024-01-01] the bank expects exports to continue to grow solidly through 2024.
[2024-01-01] the bank of canada today reduced its target for the overnight rate to 3¾%, with the bank rate at 4% and the deposit rate at 3¾%.
[2024-01-01] bank lending to firms had grown at an annual rate of 0.3% in april, down slightly on the previous month.
[2024-01-01] members widely acknowledged that growth would likely be weaker than expected in the short term.
[2024-01-01] in the united states, the anticipated economic slowdown is materializing, with consumption growth moderating.
[2024-01-01] the participants in the ecb’s survey of professional forecasters (spf) also expected a marked deceleration in wage growth in 2025.
[2024-01-01] during phase with higher inflation expectations and lower nominal interest rates for both short- and long term rates.
[2024-01-01] inflation was still declining towards the target and the recent information did not materially alter its trajectory.
[2024-01-01] the staff's inflation forecast was slightly lower than the one prepared for the previous meeting, reflecting incoming data and the lower projected level of resource utilization.
[2024-01-01] over the past year both headline and core inflation had fallen by several percentage points, and even services inflation had declined over the past six months.
[2024-01-01] more generally, a significant part of the current weakness in manufacturing was likely to be of a structural nature, which would have different implications for the evolution of inflation, particularl
[2024-01-01] at the same time, it was pointed out that the current level of headline inflation understated the challenges that monetary policy was still facing, which called for caution.
[2024-01-01] in the short run, however, inflation was expected to pick up again in the coming months, mainly owing to energy-related base effects.
[2024-01-01] the bank of canada today held its target for the overnight rate at 5%, with the bank rate at 5¼% and the deposit rate at 5%.
[2024-01-01] even though the outlook for the world economy had been upgraded slightly, there had been a downgrade in terms of the export prices of the euro area’s competitors, which was expected to fuel disinflati
[2024-01-01] the normalisation of the inventory cycle was expected to contribute to a strengthening in trade growth and a normalisation of trade elasticities in the period ahead.
[2024-01-01] business investment is expected to strengthen as demand picks up, and exports should remain strong, supported by robust demand from the united states.
[2024-01-01] while the slowdown in demand is reducing price pressures in a broader number of cpi components and corporate pricing behaviour continues to normalize, core measures of inflation are not showing sustai
[2024-01-01] it then declined for the october-november period as a result of a combination of factors such as weather conditions, in addition to the impact of high prices.
[2024-01-01] finally, members generally agreed that monetary policy transmission was unfolding according to expectations.
[2024-01-01] while inflation is still above central bank targets in most advanced economies, it is forecast to ease gradually.
[2024-01-01] credit continued to be available to most businesses, households, and municipalities.
[2024-01-01] this was most notable for households and less so for large businesses.
[2024-01-01] this was more than the cuts embedded in market pricing, but one cut less than survey participants had expected before the governing council’s previous monetary policy meeting.
[2024-01-01] consumption has continued to grow but is declining on a per person basis.
[2024-01-01] global financial conditions have eased since july, in part because of market expectations of lower policy interest rates.
[2024-01-01] net demand for housing loans and consumer credit had increased for the first time since mid-2022.
[2024-01-01] this also was seen as an integral part of the governing council’s meeting-by-meeting orientation and offered the necessary flexibility.
[2024-01-01] aggregate delinquency rates on cmbs backed by office properties continued to be elevated in november.
[2024-01-01] in addition, they shared the assessment that firms' funding costs had been hovering at extremely low levels.
[2024-01-01] businesses’ own price expectations, as reported in the dmp survey, had remained at slightly more elevated levels, although on a continued downward path.
[2024-01-01] moreover, new headwinds could emerge for goods inflation in a world that was more prone to frequent supply chain disruptions, geopolitical fragmentation, protectionism and climate change dynamics.
[2024-01-01] however, implied volatility had remained contained from a longer-term perspective and had retreated swiftly to previous lows.
[2024-01-01] private sector regular average weekly earnings growth had declined to 4.9% in the three months to july.
[2024-01-01] if lower energy prices or other factors reduced the cost of living now, this should put downward pressure on wage claims next year.
[2024-01-01] members also reiterated that monetary policy should continue to be based on the established elements of the reaction function.
[2024-01-01] the governing council held its biannual structured exchange on the links between monetary policy and financial stability.
[2024-01-01] growth in the united states is now expected to be stronger than previously forecast while the outlook for china remains subdued.
[2024-01-01] gdp growth is forecast to strengthen gradually over the projection horizon, supported by lower interest rates.
[2024-01-01] industrial production has been more or less flat as a trend, but it has declined recently, partly due to the effects of a suspension of production and shipment at some automakers.
[2024-01-01] given the outlook, governing council decided to hold the policy rate at 5% and to continue to normalize the bank’s balance sheet.
[2024-01-01] concern was expressed that the sharp market repricing threatened to loosen financial conditions excessively, which could derail the disinflationary process.
[2024-01-01] participants generally noted that high interest rates could contribute to vulnerabilities in the financial system.
[2024-01-01] residential investment is strengthening, responding to continued robust demand for housing.
[2024-01-01] members agreed with mr lane’s proposal to confirm the reduction of the eurosystem’s holdings of securities under the pepp by €7.5 billion per month on average over the second half of the year, with th
[2024-01-01] the case to hold the cash rate steady at this meeting was further supported by the need to balance the risks to the inflation forecast with those surrounding the outlook for full employment.
[2024-01-01] brent crude oil prices had risen above usd 90 per barrel on fears of rising tensions in the middle east.
[2024-01-01] with regard to the discussions on the academic front and within the central bank community, while many studies made at home and abroad noted that unconventional monetary policy had brought about monet
[2024-01-01] a different member commented that it was highly likely that the mechanism behind price developments would continue to be consistent with the price stability target, although the inflation rate could f
[2024-01-01] in the second half of 2024, household spending will likely pick up and exports and business investment should get a boost from recovering foreign demand.
[2024-01-01] the bank’s preferred measures of core inflation are now below 2½%.
[2024-01-01] services inflation had dropped fairly quickly from its peak in mid-2023 to 4% in november 2023, but since then it had hovered around that level.
[2024-01-01] equity markets appeared buoyant, especially in the united states.
[2024-01-01] members noted that each of these outcomes was conceivable given the considerable uncertainty about the economic outlook.
[2024-01-01] members also observed the trade-offs that could be considered in the design of any future scheme.
[2024-01-01] the bank expects inflation to remain close to 3% during the first half of this year before gradually easing, returning to the 2% target in 2025.
[2024-01-01] in nominal effective terms, however, the euro exchange rate had depreciated mildly, as the appreciation against the us dollar and other currencies had been more than offset by a weakening against the
[2024-01-01] some members said that, in such situation, the amount outstanding of the bank's jgb holdings would remain at a high level and thus its easing effects would continue; however, it could be considered th
[2024-01-01] excess supply elsewhere in the economy has reduced inflation in the prices of many goods and services.
[2024-01-01] more generally it was noted that, because financial markets were anticipating the full easing cycle, this had already implied an additional and immediate easing of the monetary policy stance, which wa
[2024-01-01] this forecast largely reflects the net effect of a gradual pick up in consumer spending per person and slower population growth.
[2024-01-01] growth was expected to recover only gradually through most of 2024.
[2024-01-01] members also discussed the staff’s assessment of spare capacity in the economy.
[2024-01-01] rates on corporate loans had been moving sideways in nominal terms (and therefore upwards in real terms), dampening demand for external finance.
[2024-01-01] financing costs in the euro area, measured by the interest rates on market debt instruments and bank loans, had remained restrictive as past policy rate increases continued to work their way through t
[2024-01-01] inflation is also elevated in services that are closely affected by wages, such as restaurants and personal care.
[2024-01-01] the united states was the main exception, with relatively firm growth in real incomes and consumption underpinning robust economic growth.
[2024-01-01] growth could be higher if inflation came down more quickly than expected, if rising real incomes meant that spending increased by more than anticipated, or if the world economy grew more strongly than
[2024-01-01] among the drivers of these perceived upside risks to the inflation outlook, food prices had increased sharply over recent weeks, in part owing to extreme weather events related to climate change and t
[2024-01-01] regarding the outlook, industrial production was likely to remain more or less flat for the time being.
[2024-01-01] members judged that the level of aggregate demand was still above the level of aggregate supply.
[2024-01-01] global economic growth continues to slow, with inflation easing gradually across most economies.
[2024-01-01] overall, members expressed increased confidence that inflation was on track to decline sustainably to the 2% inflation target in a timely manner.
[2024-01-01] growth could be higher if inflation came down more quickly than expected and rising real incomes lifted spending more than anticipated, or if the world economy grew faster than expected.
[2024-01-01] tensions in global markets over the summer had led to a temporary tightening of financial conditions in the riskier market segments.
[2024-01-01] in the foreign exchange market, the yen had been more or less flat against both the u.s. dollar and the euro.
[2024-01-01] overall, each of the three elements suggested that the key ecb interest rates were at levels that were making a substantial contribution to the ongoing disinflation process.
[2024-01-01] this had resulted in a market forward curve that embedded an earlier and stronger easing of the monetary policy stance than incorporated in the staff projections.
[2024-01-01] many members expressed the recognition that, considering, for example, reports at the january 2024 meeting of general managers of the bank's branches and recent communication by labor and management,
[2024-01-01] moreover, a different member commented that, in order to confirm whether the virtuous cycle between wages and prices had become more solid, the bank needed to carefully assess the rise in services pri
[2024-01-01] the manager turned first to a review of developments in financial markets over the intermeeting period.
[2024-01-01] the bank expects the global economy to continue growing at a rate of about 3%, with inflation in most advanced economies easing gradually.
[2024-01-01] mr lane also recalled that the wage tracker contained both old and new contracts, renegotiated at different points in time.
[2024-01-01] in relation to this, one member expressed the view that it was also necessary to pay attention to the impact that price rises due to the yen's depreciation had on costs for small and medium-sized firm
[2024-01-01] members observed that inflation in australia had moderated, with both headline and underlying inflation lower in the december quarter 2023 than had been expected three months prior.
[2024-01-01] however, a declining vacancy rate was seen as reflecting weakening labour demand, although it remained above its pre-pandemic peak.
[2024-01-01] with inflationary pressures no longer broad-based, business and consumer inflation expectations have largely normalized.
[2024-01-01] overall, the bank forecasts gdp growth of 1.2% in 2024, 2.1% in 2025, and 2.4% in 2026.
[2024-01-01] for example, heightened geopolitical tensions had increased the prospect of cyber-attacks that could have systemic implications.
[2024-01-01] this reflected the carry-over from the recent weaker data outturns for 2023 and the still-subdued level of survey indicators.
[2024-01-01] the bank remains resolute in its commitment to restoring price stability for canadians.
[2024-01-01] the unemployment rate had edged down to 6.4% in april, the lowest level since the start of the euro.
[2024-01-01] overnight index swap (ois) markets were currently pricing in a steeper and more frontloaded rate-cutting cycle than had been anticipated at the time of the governing council’s previous monetary policy
[2024-01-01] exports have been boosted by the opening of the trans mountain expansion pipeline.
[2024-01-01] there was a range of views among these members regarding the risks around the assumptions on persistence embodied in the may cpi projection.
[2024-01-01] growth in the euro area has been soft but should recover modestly next year.
[2024-01-01] in china, low consumer confidence and policy uncertainty will likely restrain activity.
[2024-01-01] market pricing no longer implied a reduction in the cash rate in 2024, and the australian dollar had appreciated modestly, though remained within its recent range.
[2024-01-01] in canada, the economy grew at around 2% in the first half of the year and we expect growth of 1¾% in the second half.
[2024-01-01] on the other, the lack of sustained growth dynamics raised concerns about the durability of what appeared to be the most inclusive and vibrant labour market in the history of the euro area.
[2024-01-01] shelter costs remain the biggest contributor to above-target inflation.
[2024-01-01] employment has been growing more slowly than the working-age population and the unemployment rate has risen gradually, reaching 6.1% in march.