yusufizzetmurat/fed-pulse-embedding-caches huggingface dataset:
[2020-06-08] Small and medium-sized businesses are a vital part of the economy and employ tens of millions of people, and, because their needs vary widely, the Board has extensively sought feedback and revised the
[2020-06-10] The Committee will continue to monitor the implications of incoming information for the economic outlook, including information related to public health, as well as global developments and muted infla
[2020-06-10] Prospects for further substantial improvement in the labor market were seen as depending on a sustained reopening of the economy, which in turn depended in large part on the efficacy of health measure
[2020-06-10] Ann E. Misback, Secretary, Office of the Secretary, Board of Governors
[2020-06-10] Matthew J. Eichner,2 Director, Division of Reserve Bank Operations and Payment Systems, Board of Governors; Michael S. Gibson, Director, Division of Supervision and Regulation, Board of Governors; And
[2020-06-10] The ongoing public health crisis will weigh heavily on economic activity, employment, and inflation in the near term, and poses considerable risks to the economic outlook over the medium term. In ligh
[2020-06-10] Staff Economic Outlook The projection for the U.S. economy prepared by the staff for the June FOMC meeting was downgraded, on balance, as compared with the April meeting forecast in response to inform
[2020-06-10] The vote also encompassed approval of the statement below for release at 2:00 p.m.:
[2020-06-10] The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. The coronavi
[2020-06-10] Participants agreed that the current stance of monetary policy remained appropriate, but many noted that the Committee could, at upcoming meetings, further clarify its intentions with respect to its f
[2020-06-10] Shaghil Ahmed, Marc Giannoni, Trevor A. Reeve, William Wascher, and Mark L.J. Wright, Associate Economists
[2020-06-10] Participants commented that there remained an extraordinary amount of uncertainty and considerable risks to the economic outlook. Participants shared views on possible outcomes for the reopening of th
[2020-06-10] The Chair opened the meeting with an acknowledgment of the extraordinary and deeply troubling events of the last two weeks. Injustice, prejudice, and the callous disregard for life had led to social u
[2020-06-10] To support the flow of credit to households and businesses, over coming months the Federal Reserve will increase its holdings of Treasury securities and agency residential and commercial mortgage-back
[2020-06-10] Sally Davies, Associate Director, Division of International Finance, Board of Governors; David López-Salido, Associate Director, Division of Monetary Affairs, Board of Governors
[2020-06-10] "The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals.
[2020-06-10] Randall A. Williams, Senior Information Manager, Division of Monetary Affairs, Board of Governors
[2020-06-10] Conditions in unsecured short-term funding markets continued to improve over the intermeeting period, and spreads on most types of commercial paper and negotiable certificates of deposit narrowed to l
[2020-06-10] Participants also commented that the lending facilities established by the Federal Reserve under the authority of section 13(3) of the Federal Reserve Act were supporting financial market functioning
[2020-06-10] The volume of mortgage rate locks for home-purchase loans picked up in mid-May following a material drop in April. Financing conditions remained tight for borrowers with relatively low credit scores a
[2020-06-10] Finally, the manager discussed the near-term plans for purchases of Treasury securities and agency mortgage-backed securities (MBS). Overall, functioning in the markets for these securities had improv
[2020-06-10] 5. Attended through the discussion of economic developments and the outlook. Return to text
[2020-06-10] Edward Nelson4 and Robert J. Tetlow, Senior Advisers, Division of Monetary Affairs, Board of Governors; Jeremy B. Rudd, Senior Adviser, Division of Research and Statistics, Board of Governors
[2020-06-10] Regarding expectations for monetary policy, respondents to the Open Market Trading Desk's surveys suggested that most market participants did not anticipate policy changes at the June meeting. The tar
[2020-06-10] Linda Robertson, Assistant to the Board, Office of Board Members, Board of Governors
[2020-06-10] The nominal U.S. international trade deficit widened in both March and April, as exports of goods and services plunged more than imports. The fall in goods exports was broad based, with particularly s
[2020-06-10] I want to acknowledge the tragic events that have again put a spotlight on the pain of racial injustice in this country. The Federal Reserve serves the entire nation. We operate in, and are part of, m
[2020-06-10] Andre Anderson, First Vice President, Federal Reserve Bank of Atlanta
[2020-06-10] Total industrial production plunged in April, as many factories slowed or suspended operation in response to the coronavirus pandemic. The decline in manufacturing production was widespread across all
[2020-06-10] Thomas I. Barkin, Raphael W. Bostic, Mary C. Daly, Charles L. Evans, and Michael Strine, Alternate Members of the Federal Open Market Committee
[2020-06-10] Roc Armenter, Matthew D. Raskin,2 and Patricia Zobel, Vice Presidents, Federal Reserve Banks of Philadelphia, New York, and New York, respectively
[2020-06-10] Regarding developments in financial markets, participants agreed that ongoing actions by the Federal Reserve, including those undertaken in collaboration with the Treasury, had helped ease strains in
[2020-06-10] Jon Faust, Senior Special Adviser to the Chair, Office of Board Members, Board of Governors
[2020-06-10] PRESENT: Jerome H. Powell, Chair John C. Williams, Vice Chair Michelle W. Bowman Lael Brainard Richard H. Clarida Patrick Harker Robert S. Kaplan Neel Kashkari Loretta J. Mester Randal K. Quarles
[2020-06-10] These foundational principles guide us in all we do, from monetary policy to our focus on diversity and inclusion in our workplace, and to our work regulating and supervising banks to ensure fair acce
[2020-06-10] Brian M. Doyle,3 Senior Associate Director, Division of International Finance, Board of Governors; Eric M. Engen, Senior Associate Director, Division of Research and Statistics, Board of Governors
[2020-06-10] Penelope A. Beattie,5 Section Chief, Office of the Secretary, Board of Governors; Dana L. Burnett, Section Chief, Division of Monetary Affairs, Board of Governors; Dario Caldara,6 Section Chief, Divis
[2020-06-10] We understand that the work of the Federal Reserve touches communities, families, and businesses across the country. Everything we do is in service to our public mission. We are committed to using our
[2020-06-10] Members further concurred that the ongoing public health crisis would weigh heavily on economic activity, employment, and inflation in the near term and posed considerable downside risks to the econom
[2020-06-10] Total real government purchases appeared to be rising moderately in the second quarter. Federal defense spending continued to increase in April, and nondefense purchases were likely to be boosted in t
[2020-06-10] Participants also agreed that, to support the flow of credit to households and businesses, over coming months it would be appropriate for the Federal Reserve to increase its holdings of Treasury secur
[2020-06-10] Michele Cavallo, Bernd Schlusche,4 and Mary Tian, Principal Economists, Division of Monetary Affairs, Board of Governors; Maria Otoo, Principal Economist, Division of Research and Statistics, Board of
[2020-06-10] Participants noted that the coronavirus outbreak was causing tremendous human and economic hardship across the United States and around the world. The virus and the measures taken to protect public he
[2020-06-10] Notation Vote By notation vote completed on May 19, 2020, the Committee unanimously approved the minutes of the Committee meeting held on April 28–29, 2020.
[2020-06-10] As part of their discussions of longer-run risks, participants noted that in some adverse scenarios, more business closures would occur, and workers would experience longer spells of unemployment that
[2020-06-10] Real residential investment appeared to be weakening significantly in the second quarter. Starts and building permit issuance for single-family homes, along with starts of multifamily units, dropped s
[2020-06-10] In their consideration of monetary policy at this meeting, participants reaffirmed that the Federal Reserve was committed to using its full range of tools to support the U.S. economy in this challengi
[2020-06-10] Minutes of the Federal Open Market Committee June 9-10, 2020 A joint meeting of the Federal Open Market Committee and the Board of Governors was held by videoconference on Tuesday, June 9, 2020, at 10
[2020-06-10] Consistent with the Committee's decision to leave the target range for the federal funds rate unchanged, the Board of Governors voted unanimously to leave the interest rates on required and excess res
[2020-06-10] James A. Clouse, Secretary Matthew M. Luecke, Deputy Secretary Michelle A. Smith, Assistant Secretary Mark E. Van Der Weide, General Counsel Michael Held, Deputy General Counsel Thomas Laubach, Econom
[2020-06-10] The staff continued to judge that the future performance of the economy would depend importantly on the evolution of the coronavirus outbreak and the measures undertaken to contain it. Under the staff
[2020-06-10] I speak for my colleagues throughout the Federal Reserve System when I say that there is no place at the Federal Reserve for racism, and there should be no place for it in our society. Everyone deserv
[2020-06-10] The Treasury yield curve steepened over the intermeeting period, with 2-year yields little changed while 10- and 30-year yields rose. Longer-term yields were likely boosted by expectations of heavy up
[2020-06-10] In their discussion of the foreign and historical experience with YCT policies and the potential role for such policies in the United States, nearly all participants indicated that they had many quest
[2020-06-10] Total nonfarm payroll employment expanded strongly in May, though by much less than the historic job losses recorded in April. The unemployment rate moved down to 13.3 percent in May after soaring to
[2020-06-10] 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
[2020-06-10] Staff Review of the Economic Situation The coronavirus outbreak and the measures undertaken to contain its spread were severely disrupting economic activity in the United States and abroad. The availa
[2020-06-10] Mark A. Carlson, Senior Economic Project Manager, Division of Monetary Affairs, Board of Governors; Canlin Li,4 Senior Economic Project Manager, Division of International Finance, Board of Governors
[2020-06-10] Financing conditions for small businesses tightened amid widespread continued pandemic-related closures and reduced operations of small businesses. Lenders indicated that they had tightened loan stand
[2020-06-10] The coronavirus outbreak is causing tremendous human and economic hardship across the United States and around the world. The virus and the measures taken to protect public health have induced sharp d
[2020-06-10] In their discussion of forward guidance and large-scale asset purchases, participants agreed that the Committee has had extensive experience with these tools, that they were effective in the wake of t
[2020-06-10] Real business fixed investment continued to tumble in the second quarter. Nominal new orders and shipments of nondefense capital goods excluding aircraft decreased considerably in April. Nominal busin
[2020-06-10] Developments in Financial Markets and Open Market Operations The System Open Market Account (SOMA) manager first discussed developments in financial markets over the intermeeting period. Risk asset pr
[2020-06-10] Voting for the monetary policy action were Jerome H. Powell, Chair; John C. Williams, Vice Chair; Michelle W. Bowman; Lael Brainard; Richard H. Clarida; Patrick Harker; Robert S. Kaplan; Neel Kashkari
[2020-06-10] With regard to inflation, participants reiterated their view that the negative effect from the pandemic on aggregate demand was likely to more than offset any upward pressure from supply constraints s
[2020-06-10] Daniel Cooper and John A. Weinberg, Senior Economists and Policy Advisors, Federal Reserve Banks of Boston and Richmond, respectively
[2020-06-10] Discussion of Forward Guidance, Asset Purchases, and Yield Curve Caps or Targets Participants discussed tools for conducting monetary policy when the federal funds rate is at its effective lower bound
[2020-06-10] Participants noted that levels of uncertainty and risks perceived by businesses remained high and that these factors continued to contribute to restraints on capital expenditures, despite easing in fi
[2020-06-10] 1. The Federal Open Market Committee is referenced as the "FOMC" and the "Committee" in these minutes. Return to text
[2020-06-10] David Altig, Joseph W. Gruber, Anna Paulson, Daleep Singh, and Christopher J. Waller, Executive Vice Presidents, Federal Reserve Banks of Atlanta, Kansas City, Chicago, New York, and St. Louis, respec
[2020-06-10] Regarding household spending, participants pointed to information from District contacts, to surveys of consumer behavior, and to high-frequency indicators—such as credit card transactions, automated
[2020-06-10] Voting for this action: Jerome H. Powell, John C. Williams, Michelle W. Bowman, Lael Brainard, Richard H. Clarida, Patrick Harker, Robert S. Kaplan, Neel Kashkari, Loretta J. Mester, and Randal K. Qua
[2020-06-10] The staff still observed that the uncertainty related to the economic effects of the coronavirus pandemic was extremely elevated and that the historical behavior of the U.S. economy in response to pas
[2020-06-10] Committee Policy Action In their discussion of monetary policy for this meeting, members agreed that the coronavirus outbreak was causing tremendous human and economic hardship across the United State
[2020-06-10] 4. Attended through the discussion of forward guidance, asset purchases, and yield caps or targets. Return to text
[2020-06-10] The second staff briefing reviewed the yield caps or targets (YCT) policies that the Federal Reserve followed during and after World War II and that the Bank of Japan and the Reserve Bank of Australia
[2020-06-10] Over the intermeeting period, financial market functioning appeared to improve in general, al­though progress was uneven. Liquidity measures improved in the Treasury market, but off-the-run Treasury s
[2020-06-10] Financing conditions for nonfinancial firms eased somewhat over the intermeeting period, though they remained moderately strained for lower-rated borrowers. Investment-grade corporate bond issuance so
[2020-06-10] Commercial real estate (CRE) lending conditions recovered somewhat during the intermeeting period. Spreads on triple-A-rated and triple-B-rated non-agency CMBS declined in May but remained elevated re
[2020-06-10] Members agreed that they would continue to monitor the implications of incoming information for the economic outlook, including information related to public health, as well as global developments and
[2020-06-10] Staff Review of the Financial Situation Over the intermeeting period, risk sentiment improved, on net, as optimism over reopening the economy, potential coronavirus treatments, the unexpectedly positi
[2020-06-10] The improving risk sentiment also supported several foreign currencies, and the staff's broad dollar index fell. The euro appreciated notably over the period, lifted in part by the European fiscal and
[2020-06-10] Burcu Duygan-Bump, Andrew Figura, Shane M. Sherlund, and Paul A. Smith, Deputy Associate Directors, Division of Research and Statistics, Board of Governors; Jeffrey D. Walker,2 Deputy Associate Direct
[2020-06-10] Matthias Paustian,4 Assistant Director and Chief, Division of Research and Statistics, Board of Governors
[2020-06-10] Foreign economic activity contracted in the first quarter, even though most countries abroad introduced strict social-distancing measures to contain the spread of the coronavirus only toward the end o
[2020-06-10] To support the flow of credit to households and businesses, members agreed that over coming months it would be appropriate for the Federal Reserve to increase its holdings of Treasury securities and a
[2020-06-10] 3. Attended through the discussion of economic developments and the outlook, and all of Wednesday's session. Return to text
[2020-06-10] The credit quality of nonfinancial corporations continued to deteriorate sharply during the intermeeting period. The volume of nonfinancial corporate bond and leveraged loan downgrades remained very h
[2020-06-10] Hess T. Chung,4 Group Manager, Division of Research and Statistics, Board of Governors
[2020-06-10] Edward S. Knotek II, Paolo A. Pesenti, Julie Ann Remache,2 Samuel Schulhofer-Wohl,2 Robert G. Valletta, and Nathaniel Wuerffel,2 Senior Vice Presidents, Federal Reserve Banks of Cleveland, New York, N
[2020-06-10] David H. Small, Project Manager, Division of Monetary Affairs, Board of Governors
[2020-06-10] Participants agreed that lowering the federal funds rate to its ELB had established more accommodative financial conditions and that the Federal Reserve's ongoing purchases of sizable quantities of Tr
[2020-06-10] Total PCE price inflation was only 0.5 percent over the 12 months ending in April, reflecting both weak aggregate demand in recent months and a considerable drop in consumer energy prices. Prices fell
[2020-06-10] Participants judged that the effects of the coronavirus outbreak and the ongoing public health crisis will weigh heavily on economic activity, employment, and inflation in the near term and would pose
[2020-06-10] Risk sentiment in foreign financial markets improved over the intermeeting period. Further monetary policy and fiscal policy support in foreign countries, the easing of coronavirus-related restriction
[2020-06-10] Brian J. Bonis, Etienne Gagnon, and Zeynep Senyuz, Assistant Directors, Division of Monetary Affairs, Board of Governors
[2020-06-10] Robert Lerman,2 Assistant Vice President, Federal Reserve Bank of New York
[2020-06-10] Broad stock price indexes moved higher. One-month implied volatility on the S&P 500 index declined somewhat but still stood at the 85th percentile of its distribution since 1990. Spreads on investment
[2020-06-10] 2. Attended through the discussion of developments in financial markets and open market operations. Return to text
[2020-06-10] The expected path of the federal funds rate for the next few years, based on a straight read of overnight index swap quotes, declined a bit and remained close to the ELB through late 2023. Market-impl
[2020-06-10] James Bullard, Esther L. George, and Eric Rosengren, Presidents of the Federal Reserve Banks of St. Louis, Kansas City, and Boston, respectively
[2020-06-10] Real PCE slumped in April, with declines widespread across most spending categories. In May, however, light motor vehicle sales and some other high-frequency indicators of consumer spending turned up,
[2020-06-10] William F. Bassett, Antulio N. Bomfim, Wendy E. Dunn, Ellen E. Meade, Chiara Scotti, and Ivan Vidangos, Special Advisers to the Board, Office of Board Members, Board of Governors
[2020-06-10] Participants' Views on Current Conditions and the Economic Outlook In conjunction with this FOMC meeting, participants submitted their projections of the most likely outcomes for real GDP growth, the
[2020-06-10] "Effective June 11, 2020, the Federal Open Market Committee directs the Desk to:
[2020-06-10] With regard to the labor market, participants remarked on the surprisingly positive news from the labor market report for May but emphasized that nearly 20 million jobs had been lost, on net, since Fe
[2020-06-10] 6. Attended from the discussion of economic developments and the outlook through the end of Tuesday's session. Return to text
[2020-06-10] James Hebden4 and James M. Trevino,4 Senior Technology Analysts, Division of Monetary Affairs, Board of Governors
[2020-06-10] Joshua Gallin, Special Adviser to the Chair, Office of Board Members, Board of Governors
[2020-06-10] 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
[2020-06-10] Sriya Anbil,4 Erin E. Ferris, and Fabian Winkler, Senior Economists, Division of Monetary Affairs, Board of Governors; David S. Miller,4 Senior Economist, Division of Research and Statistics, Board of
[2020-06-10] A number of participants emphasized that, when assessing the potential roles that different monetary policy tools might play to support the attainment of the Committee's goals, it was important to thi
[2020-06-10] Participants noted that conditions in the energy sector remained difficult amid still-low oil prices. Several participants anticipated continued low drilling activity, at least until excess inventorie
[2020-06-10] Participants agreed that asset purchase programs can promote accommodative financial conditions by putting downward pressure on term premiums and longer-term yields. Several participants remarked that
[2020-06-10] It was agreed that the next meeting of the Committee would be held on Tuesday–Wednesday, July 28–29, 2020. The meeting adjourned at 10:05 a.m. on June 10, 2020.
[2020-06-10] A joint meeting of the Federal Open Market Committee and the Board of Governors was held by videoconference on Tuesday, June 9, 2020, at 10:00 a.m. and continued on Wednesday, June 10, 2020, at 9:00 a
[2020-06-10] Rochelle M. Edge, Deputy Director, Division of Monetary Affairs, Board of Governors; Michael T. Kiley, Deputy Director, Division of Financial Stability, Board of Governors
[2020-06-10] The manager turned to a discussion of Federal Reserve operations. Credit facilities, some of which became operational over the period, generally experienced modest activity in light of broad improveme
[2020-06-10] The sharp decline in economic activity had also curtailed the demand for consumer credit. On balance, consumer credit financing conditions did not appear to be a major drag on household spending. Issu
[2020-06-12] Additional information on the Federal Reserve's review of monetary policy strategy, tools, and communication practices and the Fed Listens events is available at https://www.federalreserve.gov/monetar
[2020-06-12] During the events, Federal Reserve officials directly engaged a range of individuals and groups—including unions, small businesses, low- and moderate-income communities, retirees, and others—on issues
[2020-06-12] The Federal Reserve Board on Friday released a report, Fed Listens: Perspectives from the Public, summarizing the 15 Fed Listens events held by the Board and the Federal Reserve Banks since the beginn
[2020-06-15] FAQs: Primary Market Corporate Credit Facility and Secondary Market Corporate Credit Facility
[2020-06-15] The Primary Market and Secondary Market Corporate Credit Facilities were established with the approval of the Treasury Secretary and with $75 billion in equity provided by the Treasury Department from
[2020-06-15] As detailed in a revised term sheet and updated FAQs, the SMCCF will purchase corporate bonds to create a corporate bond portfolio that is based on a broad, diversified market index of U.S. corporate
[2020-06-15] The Federal Reserve Board on Monday announced updates to the Secondary Market Corporate Credit Facility (SMCCF), which will begin buying a broad and diversified portfolio of corporate bonds to support