yusufizzetmurat/fed-pulse-embedding-caches huggingface dataset:
[2016-12-14] Total U.S. consumer prices, as measured by the PCE price index, increased almost 1-1/2 percent over the 12 months ending in October, partly restrained by recent decreases in consumer food prices and e
[2016-12-14] 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 objectives
[2016-12-14] 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
[2016-12-14] The U.S. international trade deficit widened in October after narrowing in September. After increasing in September, exports fell substantially in October, reflecting declines in exports of agricultur
[2016-12-14] In their discussion of their economic forecasts, participants emphasized their considerable uncertainty about the timing, size, and composition of any future fiscal and other economic policy initiativ
[2016-12-14] Edward Herbst and Lubomir Petrasek, Principal Economists, Division of Monetary Affairs, Board of Governors
[2016-12-14] David Altig, Executive Vice President, Federal Reserve Bank of Atlanta
[2016-12-14] Real government purchases looked to be rising modestly in the fourth quarter. Nominal federal government spending in October and November pointed to increases in real defense purchases in the fourth q
[2016-12-14] Matthew J. Eichner,2 Director, Division of Reserve Bank Operations and Payment Systems, Board of Governors; Michael S. Gibson, Director, Division of Banking Supervision and Regulation, Board of Govern
[2016-12-14] Money market flows continued to stabilize over the intermeeting period following outsized movements in the period before implementation of MMF reforms in mid-October. Assets under management at govern
[2016-12-14] The vote also encompassed approval of the statement below to be released at 2:00 p.m.:
[2016-12-14] Real personal consumption expenditures (PCE) appeared to be rising at a moderate pace in the fourth quarter. Consumer expenditures increased modestly in October but were restrained by a decline in spe
[2016-12-14] Most participants attributed the substantial changes in financial market conditions over the intermeeting period--including the increase in longer-term interest rates, the strengthening of the dollar,
[2016-12-14] After assessing the outlook for economic activity, the labor market, and inflation, members agreed to raise the target range for the federal funds rate to 1/2 to 3/4 percent. This increase in the targ
[2016-12-14] Penelope A. Beattie,4 Assistant to the Secretary, Office of the Secretary, Board of Governors
[2016-12-14] Staff Economic Outlook In the U.S. economic projection prepared by the staff for the December FOMC meeting, the near-term forecast was little changed from the projection prepared for the November meet
[2016-12-14] Real private expenditures for business equipment and intellectual property seemed to be soft early in the fourth quarter. Nominal shipments of nondefense capital goods excluding aircraft edged down in
[2016-12-14] Terry Fitzgerald, Giovanni Olivei, Argia M. Sbordone, Mark Spiegel, and Alexander L. Wolman, Vice Presidents, Federal Reserve Banks of Minneapolis, Boston, New York, San Francisco, and Richmond, respe
[2016-12-14] Brian M. Doyle, Associate Director, Division of International Finance, Board of Governors; Stacey Tevlin, Associate Director, Division of Research and Statistics, Board of Governors
[2016-12-14] Consumer credit continued to be readily available for most borrowers, and overall loan balances increased about 6 percent over the 12 months ending in September. In the subprime sector, credit card le
[2016-12-14] Staff Review of the Financial Situation Over the intermeeting period, incoming U.S. economic data and Federal Reserve communications reinforced market participants' expectations for an increase in the
[2016-12-14] David H. Small, Project Manager, Division of Monetary Affairs, Board of Governors
[2016-12-14] With respect to the economic outlook and its implications for monetary policy, members continued to expect that, with gradual adjustments in the stance of monetary policy, economic activity would expa
[2016-12-14] Jeffrey M. Lacker, Dennis P. Lockhart, and John C. Williams, Presidents of the Federal Reserve Banks of Richmond, Atlanta, and San Francisco, respectively
[2016-12-14] 7. In taking this action, the Board approved requests submitted by the boards of directors of the Federal Reserve Banks of Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Lo
[2016-12-14] 5. The approved Rules Regarding Availability of Information are available at www.federalreserve.gov/monetarypolicy/rules_authorizations.htm. Return to text
[2016-12-14] Participants generally viewed the information on inflation received over the intermeeting period as reinforcing their expectation that inflation would rise to the Committee's 2 percent objective over
[2016-12-14] Thomas A. Connors, David E. Lebow, Stephen A. Meyer, Christopher J. Waller, and William Wascher, Associate Economists
[2016-12-14] 6. One participant did not submit longer-run projections for real output growth, the unemployment rate, or the federal funds rate. Return to text
[2016-12-14] Mark L. Mullinix, First Vice President, Federal Reserve Bank of Richmond
[2016-12-14] In the euro area, investors were attentive to the constitutional referendum in Italy and the December meeting of the European Central Bank (ECB). In Italy, the "No" vote on constitutional reform and t
[2016-12-14] Margie Shanks,3 Deputy Secretary, Office of the Secretary, Board of Governors
[2016-12-14] The near-term forecast for consumer price inflation was somewhat higher than in the previous projection, reflecting recent increases in energy prices. Beyond the near term, the inflation forecast was
[2016-12-14] The staff viewed the uncertainty around its projections for real GDP growth, the unemployment rate, and inflation as similar to the average of the past 20 years. The risks to the forecast for real GDP
[2016-12-14] Brian F. Madigan, Secretary Matthew M. Luecke, Deputy Secretary David W. Skidmore, Assistant Secretary Michelle A. Smith, Assistant Secretary Scott G. Alvarez, General Counsel Michael Held, Deputy Gen
[2016-12-14] Committee Policy Action In their discussion of monetary policy for the period ahead, members judged that the information received since the Committee met in November indicated that the labor market ha
[2016-12-14] Foreign financial markets responded primarily to U.S. developments over the intermeeting period, as market participants assessed the effects of potential policy changes resulting from the U.S. electio
[2016-12-14] PRESENT: Janet L. Yellen, Chair William C. Dudley, Vice Chairman Lael Brainard James Bullard Stanley Fischer Esther L. George Loretta J. Mester Jerome H. Powell Eric Rosengren Daniel K. Tarullo
[2016-12-14] While viewing a gradual approach to policy firming as likely to be appropriate, participants emphasized the need to adjust the policy path as economic conditions evolved. They pointed to a number of r
[2016-12-14] 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
[2016-12-15] The Federal Reserve Board has approved action on Thursday by the Board of Directors of the Federal Reserve Bank of Minneapolis, increasing the discount rate (the primary credit rate) at the Bank from
[2017-01-01] exports would likely continue their increasing trend for the time being, as those of it-related goods and capital goods were likely to be firm, and thereafter were expected to continue their moderate
[2017-01-01] commenting on this outlook, it was pointed out that higher headline inflation reflected the fact that energy prices were 9.2% higher in february 2017 than one year ago, but that base effects were expe
[2017-01-01] however, projected export growth is slightly slower than before, in part because of a stronger canadian dollar than assumed in july.
[2017-01-01] staff economic outlook in the u.s. economic projection prepared by the staff for the march fomc meeting, the near-term forecast for real gdp growth was a little weaker, on net, than in the previous pr
[2017-01-01] it was noted that recent increases in consumer energy prices could cause inflation to temporarily reach or even rise a bit above 2 percent in the near term.
[2017-01-01] recent regulatory statements and actions by the pra, fpc and fca might also have led to a tightening of credit conditions for some borrowers, although it was too early to judge how pronounced this wou
[2017-01-01] one member, noting that exports for the april-june quarter of 2017 had decreased slightly on a quarter-on-quarter basis but had increased firmly again for the july-september quarter, expressed the vie
[2017-01-01] as a result, spare capacity in the labour markets of these economies was likely to continue to decline.
[2017-01-01] members also noted that chinese steel production per capita was likely to be close to its peak and that growth in chinese steel production would not add much to global demand for iron ore in the futur
[2017-01-01] participants also cited other indicators suggesting that labor market conditions continued to strengthen, including increases in the labor force participation rates of both prime-age and all individua
[2017-01-01] on the whole, the committee judged that, if the economy followed a path broadly consistent with the may central projection, then monetary policy could need to be tightened by a somewhat greater extent
[2017-01-01] When we reach maximum employment, when we reach a state where labor market conditions are at maximum employment in the Committee’s judgment, it’s very possible that the inflation test will already be
[2017-01-01] in the coming months headline inflation was expected to remain at levels close to 2%, mainly as a result of movements in the annual rate of change of energy prices.
[2017-01-01] accordingly, it needed to be highlighted that progress towards the governing council’s inflation aim still required an ample degree of monetary stimulus, which supported the governing council’s recali
[2017-01-01] And those don’t—those, frankly, don’t carry significant implications in the long run for the—for inflation or for the American economy.
[2017-01-01] volatility in equity markets had spiked both in the united states and in the euro area at the end of march and in early april, and was now back to low levels, suggesting that investors’ risk appetite
[2017-01-01] against this background, the recent improvement in labour market data had been a positive development.
[2017-01-01] the value of retail sales had fallen slightly in february, following average growth in january, and households' perceptions of their personal finances had declined to below-average levels.
[2017-01-01] against this background, members generally agreed that, from the present point of view, the evidence available continued to indicate that convincing progress towards a durable and self-sustaining conv
[2017-01-01] moreover, while patience was still required for inflation to return to levels consistent with the governing council’s medium-term inflation aim, more solid and broad-based economic growth prospects su
[2017-01-01] inflation in canada has been lower than anticipated since october, mainly because of declines in food prices.
[2017-01-01] the banks had also increased their liquid asset holdings and their liquidity coverage ratios were well above the 100 per cent minimum requirement.
[2017-01-01] one member expressed the view that the economy would likely be able to maintain its growth rate of about 6.5 percent on the back of an upturn in the rate of increase in fixed asset investment -- refle
[2017-01-01] On this path, unemployment would decline modestly below current estimates of the natural rate and remain there for some time.
[2017-01-01] M3 growth slowed less than that of M2 in November, in part because of stepped-up issuance of large time deposits as banks reduced their reliance on funding from overseas offices.
[2017-01-01] in particular, wage growth has been notably weaker than expected.
[2017-01-01] in considering the stance of monetary policy, members noted that recent data had provided more confidence that global growth was rising and that the pick-up was broadly based across both developed and
[2017-01-01] Core inflation, which excludes energy and food prices, has been running close to 1½ percent.
[2017-01-01] overall, the global economy is strengthening largely as expected and prices of some commodities, including oil, have risen.
[2017-01-01] with respect to overseas financial markets, u.s. and european long-term interest rates had risen, mainly due to speculation about a reduction in monetary accommodation by the ecb.
[2017-01-01] members recognised that the calibration of this guidance was not precise or straightforward.
[2017-01-01] commenting in more detail on the outlook and risks for the external environment, members agreed that global economic activity was improving, with the upswing showing further signs of synchronisation.
[2017-01-01] it was meaningful that an agreement had been reached on the framework to hold full and constructive discussions led by the deputy prime minister and the vice president, both of whom were in responsibl
[2017-01-01] adverse downside scenarios were thus judged to have become less likely.
[2017-01-01] accommodative policy settings had helped sustain growth above estimates of potential for several years.
[2017-01-01] several of them noted that interpreting the next few inflation reports would likely be complicated by the temporary run-up in energy costs and in the prices of other items affected by storm-related di
[2017-01-01] Although the unemployment rate has declined somewhat since the summer, it remains elevated.
[2017-01-01] in addition, the firming and broadening of the economic expansion across countries and sectors should make the euro area economy more robust to any negative shocks.
[2017-01-01] second, as for cp and corporate bonds, it would maintain their amounts outstanding at about 2.2 trillion yen and about 3.2 trillion yen, respectively.
[2017-01-01] as for housing investment, members shared the recognition that it continued picking up on the back of accommodative financial conditions.
[2017-01-01] in the united states, some temporary factors weighed on economic activity in the first quarter but the drivers of growth remain solid.
[2017-01-01] rents had continued to fall in perth and had been slightly lower in brisbane, where valuations for some new inner-city apartments had declined below their purchase prices.
[2017-01-01] since the governing council’s monetary policy meeting on 6-7 september 2017 a positive underlying tone had persisted in financial markets.
[2017-01-01] financial market participants' expectations were that the federal funds rate would be increased by more than previously thought, but a slower pace of increase was expected than indicated by the fomc.
[2017-01-01] this assessment was broadly reflected in the june 2017 eurosystem staff projections, which saw annual hicp inflation at 1.5% in 2017, 1.3% in 2018 and 1.6% in 2019, implying a downward revision from t
[2017-01-01] members then concurred that a positive output gap had taken hold, given the recent tightening of labor market conditions and the increase in capacity utilization rates, with the latter reflecting a ri
[2017-01-01] in some large euro area economies, recent data had surprised on the upside.
[2017-01-01] investment in nonresidential structures appeared to have risen at a markedly slower pace in the second quarter than in the first.
[2017-01-01] while participants generally saw the risks to the economic outlook as roughly balanced, they agreed that inflation developments should be monitored closely.
[2017-01-01] Several participants noted the increase in agricultural crop prices over 2020 and the associated improvement in farm revenues.
[2017-01-01] members agreed that many indicators suggested improvement in private consumption, amid steady improvement in the employment and income situation, and that it was appropriate to revise the bank's asses
[2017-01-01] growth is broadening across industries and regions and therefore becoming more sustainable.
[2017-01-01] many members expressed the view that due attention should be paid to downside risks to the global economy, in the case where growing tides of protectionism were observed.
[2017-01-01] Some participants suggested that the persistently high level of unemployment reflected the impact of structural factors, including mismatches between the skills of the unemployed and the skills demand
[2017-01-01] May 26, 2021 The Economic Outlook and Monetary Policy Vice Chair for Supervision Randal K. Quarles At the Hutchins Center on Fiscal and Monetary Policy, The Brookings Institution, Washington, D.C. (vi
[2017-01-01] members noted that conditions in established housing markets had continued to vary considerably.
[2017-01-01] risks to the growth outlook could now be considered to be broadly balanced, supporting confidence that the economic expansion was on a stronger footing.
[2017-01-01] annual growth in compensation per employee had stood at 1.2% in the first quarter of 2017, down from 1.4% in the final quarter of 2016.
[2017-01-01] Domestic demand growth has slumped in many foreign economies because of varying combinations of an increase in saving rates and a decline in investment.
[2017-01-01] a few members then referred to the fact that the government recently had laid out measures such as tax cuts for firms that raised wages proactively.
[2017-01-01] the eurosystem cash collateral facility had been instrumental in mitigating pressures in the repo market.
[2017-01-01] one member expressed the view that consumers' acceptance of a rise in prices would gradually increase with the improvement in the employment and income situation.
[2017-01-01] An anticipated sharp slowdown in the pace of inventory accumulation also would damp domestic production as the growth of stocks was brought into balance with the expected more moderate trajectory of f
[2017-01-01] Major equity indexes appeared to be supported by lower interest rates and posted modest gains despite the increases in energy prices.
[2017-01-01] the improving external environment was expected to provide additional support to euro area economic activity.
[2017-01-01] in july, the bank of canada raised its policy rate for the first time in seven years and financial market participants expected further increases.
[2017-01-01] with respect to overseas economies, members agreed that advanced economies continued to recover, mainly in household spending, and that the spread of the effects of such recovery to the corporate sect
[2017-01-01] turning to the immediate decision regarding the level of the cash rate, members noted that gdp growth had been stronger than expected in a number of major economies in the september quarter and that t
[2017-01-01] The shifting balance of domestic demand and potential supply in each country means that policies affecting domestic demand will need to be re-calibrated to preserve price stability and keep economies
[2017-01-01] At the time of our FOMC meeting in January, prospects for continued economic growth remained favorable, and we judged that monetary policy was well positioned to support that outlook.
[2017-01-01] over the previous five years, most of the growth in business investment had occurred in victoria and new south wales.
[2017-01-01] this lessened the trade-off that the mpc was required to balance and, all else equal, reduced the mpc’s tolerance of above-target inflation.
[2017-01-01] therefore, preserving a very substantial degree of monetary accommodation beyond march 2017 was seen as necessary to secure the sustained return of inflation towards levels consistent with the governi
[2017-01-01] at the same time, it was also argued that downside risks related to the euro area domestic economy and political risks had diminished markedly.
[2017-01-01] recent readings on survey-based measures of longer-run inflation expectations--including those from the michigan survey, the survey of professional forecasters, and the desk's survey of primary dealer
[2017-01-01] the risks to the forecast for real gdp were seen as tilted to the downside, primarily reflecting the staff's assessment that monetary policy appeared to be better positioned to respond to large positi
[2017-01-01] as regards communication, there was wide agreement among members with the proposals put forward by mr praet in his introduction.
[2017-01-01] nationwide measures of housing prices had increased by around 9 per cent over the year to september.
[2017-01-01] governing council will continue to assess the impact of ongoing developments, mindful of the significant uncertainties weighing on the outlook.
[2017-01-01] meanwhile, world oil prices have softened as markets work toward a new supply/demand balance.
[2017-01-01] some members pointed out that private consumption in china remained firm except for that of automobiles, which saw a subsequent decline from the past increase in response to the reduction in the relat
[2017-01-01] the european economy continued to recover steadily, albeit at a moderate pace, mainly in the household sector.
[2017-01-01] during the rest of this year and into 2018 and 2019, growth in canada is expected to moderate but remain above potential.
[2017-01-01] for example, the five-year forward inflation-linked swap rate five years ahead had been broadly stable around 1.7% since the governing council’s january monetary policy meeting, following an earlier u
[2017-01-01] with regard to the monetary policy stance, members widely shared the assessment provided by mr praet in his introduction that the continued solid and broad-based expansion of the euro area economy, am
[2017-01-01] consumption is expected to remain solid, while residential investment will be tempered by previously announced changes to housing finance rules and by mortgage rates that have risen in response to hig
[2017-01-01] And we were actually quite concerned that growth was not sufficient to continue to bring the unemployment rate down.
[2017-01-01] measures of core inflation are below 2 per cent, reflecting material excess capacity in the economy.
[2017-01-01] in the september 2017 ecb staff macroeconomic projections, euro area real gdp growth had been revised up for 2017, to 2.2%, while remaining unchanged at 1.8% for 2018 and at 1.7% for 2019, compared wi
[2017-01-01] members shared the recognition that business fixed investment had been on a moderate increasing trend with corporate profits and business sentiment improving in a wider range of industries.
[2017-01-01] while market commentary suggested that a number of factors contributed to the decline, a clear catalyst was difficult to identify.
[2017-01-01] as emphasised in previous governing council communication, it needed to be reiterated that, given prevailing uncertainties, the governing council would continue to monitor closely the evolution of the
[2017-01-01] the very strong growth of the first quarter is expected to moderate over the balance of the year, but remain above potential.
[2017-01-01] based on this outlook and the risks and uncertainties identified in today’s mpr, governing council judges that the current stance of monetary policy is appropriate.
[2017-01-01] the near-term forecast for core pce price inflation was essentially unrevised.
[2017-01-01] The simplest answer is that interest rates should vary to imitate qualitatively the way they would behave if the Fed were implementing a money supply target.
[2017-01-01] members shared the recognition that exports had been on an increasing trend on the back of the growth in overseas economies.
[2017-01-01] staff review of the economic situation the information reviewed for the may 2-3 meeting indicated that the labor market strengthened further in march but that growth of real gross domestic product (gd