yusufizzetmurat/fed-pulse-embedding-caches huggingface dataset:
[2022-07-27] Participants observed that inflation remained unacceptably high and was well above the Committee's longer-run goal of 2 percent. In light of the high CPI reading for June, participants noted that PCE
[2022-07-27] The deputy manager ended with an update on SOMA net income. Staff projections suggested that net income would likely turn negative in coming months. That development would be reflected in a temporary
[2022-07-27] Jon Faust and Joshua Gallin, Senior Special Advisers to the Chair, Division of Board Members, Board
[2022-07-27] Andrew Figura, Associate Director, Division of Research and Statistics, Board; Christopher J. Gust, Associate Director, Division of Monetary Affairs, Board; Jeffrey D. Walker,3 Associate Director, Div
[2022-07-27] Recent indicators of spending and production have softened. Nonetheless, job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated, reflecting
[2022-07-27] Equity and corporate debt prices declined significantly since the last assessment, reflecting concerns over slower growth and lower risk appetite in corporate markets. Declining risk appetite has also
[2022-07-27] In their consideration of the appropriate stance of monetary policy, participants concurred that the labor market was very tight and that inflation was far above the Committee's 2 percent inflation ob
[2022-07-27] In their assessment of the monetary policy stance necessary for achieving the Committee's maximum-employment and price-stability goals, the Committee decided to raise the target range for the federal
[2022-07-27] Shaghil Ahmed, Brian M. Doyle, Joseph W. Gruber, David E. Lebow, Ellis W. Tallman, and William Wascher, Associate Economists
[2022-07-27] Meredith Black, Charles L. Evans, Patrick Harker, Neel Kashkari, and Helen E. Mucciolo,2 Alternate Members of the Committee
[2022-07-27] David Na and Anthony Sarver, Senior Financial Institution and Policy Analysts, Division of Monetary Affairs, Board
[2022-07-27] 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, July 26, 2022, at 10:30 a.m.
[2022-07-27] In their assessment of the policy outlook, market participants expected significant policy tightening in coming meetings as the Committee continued to respond to the current elevated level of inflatio
[2022-07-27] In light of elevated inflation and the upside risks to the outlook for inflation, participants remarked that moving to a restrictive stance of the policy rate in the near term would also be appropriat
[2022-07-27] Participants observed that the labor market remained strong, with the unemployment rate very low, job vacancies and quits close to historically high levels, and an elevated rate of nominal wage growth
[2022-07-27] The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. In support of these goals, the Committee decided to raise the target range for the federal
[2022-07-27] In their discussion of the household sector, participants commented that they were seeing many signs in the data, and hearing reports from business contacts, of slower growth in consumer spending. Alt
[2022-07-27] Minutes of the Federal Open Market Committee July 26-27, 2022 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
[2022-07-27] Participants noted that expectations of inflation were an important influence on the behavior of actual inflation and stressed that moving to an appropriately restrictive stance of policy was essentia
[2022-07-27] The credit quality of nonfinancial corporations remained strong with low volumes of defaults on corporate bonds in May and on leveraged loans in June. The volume of rating downgrades on speculative-gr
[2022-07-27] 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
[2022-07-27] William F. Bassett, Senior Associate Director, Division of Financial Stability, Board
[2022-07-27] In domestic credit markets, longer-term borrowing costs for households and businesses with higher credit ratings declined over the intermeeting period but borrowing costs for lower rated firms were hi
[2022-07-27] Broad equity price indexes were higher over the intermeeting period, amid heightened volatility. Declines in interest rates likely supported stock prices over the period, while some positive earnings
[2022-07-27] It was agreed that the next meeting of the Committee would be held on Tuesday–Wednesday, September 20–21, 2022. The meeting adjourned at 10:35 a.m. on July 27, 2022.
[2022-07-27] The staff continued to judge that the risks to the baseline projection for real activity were skewed to the downside, noting that supply chain bottlenecks, Russia's war against Ukraine, weak incoming
[2022-07-27] Voting for this action: Jerome H. Powell, John C. Williams, Michael S. Barr, Michelle W. Bowman, Lael Brainard, James Bullard, Susan M. Collins, Lisa D. Cook, Esther L. George, Philip N. Jefferson, Lo
[2022-07-27] Real goods exports edged down in May after growing robustly in March and April. Real goods imports continued to step down from the exceptionally strong March readings, driven by declines in imports of
[2022-07-27] Foreign economic growth slowed notably in the second quarter, as COVID-19-related lockdowns led to a sharp contraction in China and Russia's war against Ukraine took a toll on foreign activity, especi
[2022-07-27] Participants noted that indicators of spending and production pointed to less underlying strength in economic activity than was suggested by indicators of labor market activity. With employment growth
[2022-07-27] Market participants perceived falling commodity prices—particularly for oil—and the FOMC's commitment to bringing inflation down as pointing to lower inflation ahead. Market-based measures of near-dat
[2022-07-27] Brett Takacs, Senior Communications Analyst, Division of Information Technology, Board
[2022-07-27] 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
[2022-07-27] Notation Vote By notation vote completed on July 5, 2022, the Committee unanimously approved the minutes of the Committee meeting held on June 14–15, 2022.
[2022-07-27] Members agreed that, in assessing the appropriate stance of monetary policy, they would continue to monitor the implications of incoming information for the economic outlook and that they would be pre
[2022-07-27] Patrick E. McCabe and Norman J. Morin, Deputy Associate Directors, Division of Research and Statistics, Board
[2022-07-27] Kartik B. Athreya, Michael Dotsey, and Michelle M. Neal, Executive Vice Presidents, Federal Reserve Banks of Richmond, Philadelphia, and New York, respectively
[2022-07-27] Staff Review of the Financial Situation Over the intermeeting period, nominal and real Treasury yields declined significantly, reportedly reflecting increased investor concerns about downside risks to
[2022-07-27] The staff provided an update on its assessment of the stability of the financial system and, on balance, characterized the vulnerabilities of the U.S. financial system as moderate, down from notable i
[2022-07-27] Thomas I. Barkin, Raphael W. Bostic, and Mary C. Daly, Presidents of the Federal Reserve Banks of Richmond, Atlanta, and San Francisco, respectively
[2022-07-27] With regard to current economic activity, participants noted that consumer expenditures, housing activity, business investment, and manufacturing production had all decelerated from the robust rates o
[2022-07-27] Investors' concerns about global economic growth intensified amid weaker-than-expected data on economic activity and uncertainty about the supply of natural gas from Russia to Europe. Sovereign yields
[2022-07-27] 6. In taking this action, the Board approved requests to establish that rate submitted by the boards of directors of the Federal Reserve Banks of Boston, New York, Philadelphia, Cleveland, Richmond, A
[2022-07-27] Fabian Winkler, Principal Economist, Division of Monetary Affairs, Board
[2022-07-27] Becky C. Bareford, First Vice President, Federal Reserve Bank of Richmond
[2022-07-27] Participants concurred that, in expeditiously raising the policy rate, the Committee was acting with resolve to lower inflation to 2 percent and anchor inflation expectations at levels consistent with
[2022-07-27] The staff assessed that households were in a better position than in the mid-2000s to weather a downturn in house prices, noting that mortgage debt growth has significantly lagged growth in house pric
[2022-07-27] Business loans at banks expanded at a rapid pace in May and June, despite higher interest rates and a more uncertain economic outlook. C&I loans on banks' books continued to grow robustly, with the Ju
[2022-07-27] Committee Policy Action In their discussion of monetary policy for this meeting, members agreed that recent indicators of spending and production had softened. Members also concurred that, nonetheless
[2022-07-27] Participants noted that supply bottlenecks were continuing to contribute to price pressures. There were, however, some signs of gradual improvement in the supply situation—including improved availabil
[2022-07-27] On net, financial conditions eased modestly over the period but remained substantially tighter than at the start of the year. Treasury yields fell, reflecting expectations of slower growth as well as
[2022-07-27] In discussing potential policy actions at upcoming meetings, participants continued to anticipate that ongoing increases in the target range for the federal funds rate would be appropriate to achieve
[2022-07-27] Developments in Financial Markets and Open Market Operations The deputy manager turned first to a discussion of financial market developments. Financial markets over the intermeeting period reflected
[2022-07-27] Regarding expectations for the evolution of the Federal Reserve's balance sheet, market participants expected the Committee to increase the monthly caps on System Open Market Account (SOMA) redemption
[2022-07-27] Peter M. Garavuso, Senior Information Manager, Division of Monetary Affairs, Board
[2022-07-27] Consumer price inflation remained elevated. Total PCE price inflation was 6.3 percent over the 12 months ending in May, and core PCE price inflation, which excludes changes in consumer energy prices a
[2022-07-28] For media inquiries, call 202-452-2955 or e-mail [email protected].
[2022-07-28] The Federal Reserve Board approved action on Thursday by the Boards of Directors of the Federal Reserve Banks of St. Louis and Minneapolis increasing the discount rate, specifically the primary credit
[2022-08-17] 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
[2022-08-17] For media inquiries, e-mail [email protected] or call 202-452-2955
[2022-08-17] The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on July 26–27, 2022.
[2022-08-17] Minutes of the Federal Open Market Committee July 26-27, 2022: HTML | PDF
[2022-08-17] FOMC minutes can be viewed on the Board’s website at http://www.federalreserve.gov/monetarypolicy/fomccalendars.htm
[2022-08-23] The Federal Reserve Board on Tuesday released the minutes of its interest rate meetings on July 18 and July 27, 2022.
[2022-08-23] For media inquiries, please email [email protected] or call 202-452-2955.
[2022-09-21] Penelope A. Beattie,3 Section Chief, Office of the Secretary, Board
[2022-09-21] Conditions in short-term funding markets remained stable over the intermeeting period, with the July increase in the Federal Reserve's administered interest rates passing through quickly to other mone
[2022-09-21] Matthew J. Eichner,4 Director, Division of Reserve Bank Operations and Payment Systems, Board
[2022-09-21] Samuel Schulhofer-Wohl, Senior Vice President, Federal Reserve Bank of Dallas
[2022-09-21] With regard to the business sector, participants observed that growth in investment spending appeared modest. Several participants mentioned that manufacturing activity had slowed. A couple of partici
[2022-09-21] Broad equity price indexes decreased slightly, on net, as substantial early gains arising from investors' improved perceptions about the inflation outlook and better-than-feared second-quarter earning
[2022-09-21] The staff continued to judge that the risks to the baseline projection for real activity were skewed to the downside. In addition to Russia's war in Ukraine, weakening activity abroad, and ongoing sup
[2022-09-21] Andrea Raffo, Senior Vice President, Federal Reserve Bank of Minneapolis
[2022-09-21] The manager pro tem concluded with an update on operational matters. As expected, Federal Reserve net income turned negative in September. The staff expected that the size of the associated deferred a
[2022-09-21] The expected path of the federal funds rate—implied by a straight read of financial market quotes—rose in the period since the July FOMC meeting, largely reflecting more-restrictive-than-expected mone
[2022-09-21] Michele Cavallo, Principal Economist, Division of Monetary Affairs, Board
[2022-09-21] Burcu Duygan-Bump, Special Adviser to the Board, Division of Board Members, Board
[2022-09-21] 5. Attended from the discussion of the economic and financial situation through the end of Wednesday's session. Return to text
[2022-09-21] Nathaniel Wuerffel, Head of Domestic Markets, Federal Reserve Bank of New York
[2022-09-21] Household credit quality stayed broadly solid but continued to worsen for some types of credit owed by borrowers with low credit scores. Mortgage delinquencies trended down in recent months, and the s
[2022-09-21] Notation Vote By notation vote completed on August 16, 2022, the Committee unanimously approved the minutes of the Committee meeting held on July 26–27, 2022.
[2022-09-21] In their assessment of the monetary policy stance necessary for achieving the Committee's maximum-employment and price-stability goals, the Committee decided to raise the target range for the federal
[2022-09-21] 1. The Federal Open Market Committee is referenced as the "FOMC" and the "Committee" in these minutes; the Board of Governors of the Federal Reserve System is referenced as the "Board" in these minute
[2022-09-21] Participants discussed how they perceived challenging supply conditions to be evolving. Many participants remarked that their business contacts were reporting signs of relief in supply bottlenecks, su
[2022-09-21] Sovereign yields in most AFEs rose notably over the intermeeting period as major central banks raised their policy rates and communicated a tighter stance of future policy in the face of persistent in
[2022-09-21] Recent indicators point to modest growth in spending and production. Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated, reflecting sup
[2022-09-21] Andrei Zlate, Group Manager, Division of Monetary Affairs, Board
[2022-09-21] Jose Acosta, Senior Communications Analyst, Division of Information Technology, Board
[2022-09-21] Total nonfarm payroll employment posted robust gains in July and August at an average pace that was only slightly below what was seen over the first half of the year. The unemployment rate edged up, o
[2022-09-21] Real goods exports stepped up in June and then rose further in July, led by increases in exports of industrial supplies. By contrast, real goods imports stepped down in June and then fell sharply in J
[2022-09-21] Rochelle M. Edge, Deputy Director, Division of Monetary Affairs, Board
[2022-09-21] Participants observed that inflation remained unacceptably high and well above the Committee's longer-run goal of 2 percent. Participants commented that recent inflation data generally had come in abo
[2022-09-21] Achilles Sangster II, Senior Information Manager, Division of Monetary Affairs, Board
[2022-09-21] David López-Salido, Senior Associate Director, Division of Monetary Affairs, Board
[2022-09-21] Glenn Follette, Associate Director, Division of Research and Statistics, Board
[2022-09-21] 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
[2022-09-21] Jonathan P. McCarthy, Economic Research Advisor, Federal Reserve Bank of New York
[2022-09-21] In domestic credit markets, borrowing costs continued to rise over the intermeeting period. Yields on both corporate bonds and institutional leveraged loans increased. Bank interest rates for commerci
[2022-09-21] To support the Committee's decision to raise the target range for the federal funds rate, the Board of Governors of the Federal Reserve System voted unanimously to raise the interest rate paid on rese
[2022-09-21] Charles L. Evans, Patrick Harker, Neel Kashkari, Lorie K. Logan, and Helen E. Mucciolo, Alternate Members of the Committee
[2022-09-21] On a 12-month change basis, total PCE price inflation was expected to be 5.1 percent in 2022, and core inflation was expected to be 4.3 percent. Although the staff continued to project that core infla
[2022-09-21] Credit remained generally available to businesses and households, but high borrowing costs appeared to reduce the demand for credit, resulting in lower financing volumes in some markets. Issuance of n
[2022-09-21] Valerie S. Hinojosa, Section Chief, Division of Monetary Affairs, Board
[2022-09-21] In assessing inflation expectations, participants noted that longer-term expectations appeared to remain well anchored, as reflected in a broad range of surveys of households, businesses, and forecast
[2022-09-21] Edward S. Knotek II, Senior Vice President, Federal Reserve Bank of Cleveland
[2022-09-21] Kartik B. Athreya, Executive Vice President, Federal Reserve Bank of Richmond
[2022-09-21] The manager pro tem turned next to a discussion of policy implementation. Balance sheet runoff had continued to proceed smoothly over the intermeeting period. With caps on redemptions of Treasury secu
[2022-09-21] "Effective September 22, 2022, the Federal Open Market Committee directs the Desk to:
[2022-09-21] Voting for this action: Jerome H. Powell, John C. Williams, Michael S. Barr, Michelle W. Bowman, Lael Brainard, James Bullard, Susan M. Collins, Lisa D. Cook, Esther L. George, Philip N. Jefferson, Lo
[2022-09-21] James P. Bergin, Deputy General Counsel, Federal Reserve Bank of New York
[2022-09-21] John W. Schindler, Special Adviser to the Board, Division of Board Members, Board
[2022-09-21] Karen M. Pence,5 Deputy Associate Director, Division of Research and Statistics, Board
[2022-09-21] Jon Faust, Senior Special Adviser to the Chair, Division of Board Members, Board
[2022-09-21] The vote also encompassed approval of the statement below for release at 2:00 p.m.:
[2022-09-21] The credit quality of nonfinancial corporations remained generally strong, with low default rates for both corporate bonds and leveraged loans. The volume of rating upgrades in the corporate bond mark
[2022-09-21] Laura Lipscomb, Special Adviser to the Board, Division of Board Members, Board
[2022-09-21] Thomas I. Barkin, Raphael W. Bostic, and Mary C. Daly, Presidents of the Federal Reserve Banks of Richmond, Atlanta, and San Francisco, respectively
[2022-09-21] Committee Policy Action In their discussion of monetary policy for this meeting, members agreed that recent indicators had pointed to modest growth in spending and production. Members also concurred t
[2022-09-21] With regard to the economic outlook, participants noted that recent data pointed to modest growth in economic activity over the second half of this year. Participants observed that recent indicators o
[2022-09-21] The staff continued to anticipate that ON RRP take-up would decline in coming quarters from its currently elevated levels as money market participants responded to shifting conditions. Issuance of sho
[2022-09-21] Staff Economic Outlook The projection for U.S. economic activity prepared by the staff for the September FOMC meeting was slightly weaker than the July forecast. However, the staff's estimate of poten
[2022-09-21] The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. In support of these goals, the Committee decided to raise the target range for the federal
[2022-09-21] It was agreed that the next meeting of the Committee would be held on Tuesday–Wednesday, November 1–2, 2022. The meeting adjourned at 10:20 a.m. on September 21, 2022.
[2022-09-21] Callum Jones, Senior Economist, Division of Monetary Affairs, Board
[2022-09-21] Developments in Financial Markets and Open Market Operations The manager pro tem turned first to a discussion of financial market developments over the intermeeting period. U.S. financial conditions t
[2022-09-21] In their discussion of current economic conditions, participants noted that recent indicators had pointed to modest growth in spending and production. Job gains had been robust in recent months, and t
[2022-09-21] John J. Stevens, Senior Associate Director, Division of Research and Statistics, Board
[2022-09-21] With respect to the medium term, participants judged that inflation pressures would gradually recede in coming years. Various factors were cited as likely to contribute to this outcome, including the
[2022-09-21] Paul R. Wood, Special Adviser to the Board, Division of Board Members, Board
[2022-09-21] Michael S. Gibson, Director, Division of Supervision and Regulation, Board
[2022-09-21] Joshua Gallin, Senior Special Adviser to the Chair, Division of Board Members, Board
[2022-09-21] 2. In the absence of the manager, the Committee's Rules of Organization provide that the deputy manager acts as manager pro tem. Return to text
[2022-09-21] Jeremy B. Rudd, Senior Adviser, Division of Research and Statistics, Board
[2022-09-21] Russia's war against Ukraine is causing tremendous human and economic hardship. The war and related events are creating additional upward pressure on inflation and are weighing on global economic acti
[2022-09-21] In light of the broad-based and unacceptably high level of inflation, the intermeeting news of higher-than-expected inflation, and upside risks to the inflation outlook, participants remarked that pur
[2022-09-21] Participants anticipated that the supply and demand imbalances in the labor market would gradually diminish and the unemployment rate would likely rise somewhat, importantly reflecting the effects of
[2022-09-21] Rebecca Zarutskie, Special Adviser to the Board, Division of Board Members, Board
[2022-09-21] James A. Clouse, Secretary Matthew M. Luecke, Deputy Secretary Brian J. Bonis, Assistant Secretary Michelle A. Smith, Assistant Secretary Mark E. Van Der Weide, General Counsel Trevor A. Reeve, Econom
[2022-09-21] Attendance Jerome H. Powell, Chair John C. Williams, Vice Chair Michael S. Barr Michelle W. Bowman Lael Brainard James Bullard Susan M. Collins Lisa D. Cook Esther L. George Philip N. Jefferson Lorett
[2022-09-21] Data pointed to weak foreign growth in recent months, weighed down by the global reverberations from Russia's war against Ukraine and a loss of momentum in the Chinese economy. In Europe, further disr
[2022-09-21] In discussing potential policy actions at upcoming meetings, participants continued to anticipate that ongoing increases in the target range for the federal funds rate would be appropriate to achieve
[2022-09-21] 6. In taking this action, the Board approved requests to establish that rate submitted by the boards of directors of the Federal Reserve Banks of Boston, Philadelphia, Cleveland, Richmond, Atlanta, Ch
[2022-09-21] Michelle M. Neal, Head of Markets, Federal Reserve Bank of New York