yusufizzetmurat/fed-pulse-embedding-caches huggingface dataset:
[2021-07-28] Dina Marchioni,2 Thomas Mertens, Jon Willis, and Mark A. Wynne, Vice Presidents, Federal Reserve Banks of New York, San Francisco, Atlanta, and Dallas, respectively
[2021-07-28] In their consideration of the stance of monetary policy, participants reaffirmed the Federal Reserve's commitment to using its full range of tools to support the U.S. economy during this challenging t
[2021-07-28] Consistent with the Committee's decision to leave the target range for the federal funds rate unchanged, the Board voted unanimously to establish the interest rate paid on reserve balances at 0.15 per
[2021-07-28] Minutes of the Federal Open Market Committee July 27-28, 2021 A joint meeting of the Federal Open Market Committee and the Board of Governors of the Federal Reserve System was held by videoconference
[2021-07-28] Isaiah C. Ahn, Senior Staff Assistant, Division of Monetary Affairs, Board
[2021-07-28] Standing Repurchase Agreement Facility Resolution The Federal Open Market Committee (the "Committee") authorizes and directs the Open Market Desk at the Federal Reserve Bank of New York (the "Selected
[2021-07-28] Alyssa G. Anderson2 and Andrew Meldrum,2 Section Chiefs, Division of Monetary Affairs, Board; Penelope A. Beattie,4 Section Chief, Office of the Secretary, Board
[2021-07-28] Financing conditions facing small businesses remained relatively tight, and their loan demand was generally weak. Although the July SLOOS banks reported, on net, easier lending standards for C&I loans
[2021-07-28] Longer-term yields fell notably over the period, with the declines concentrated in far-forward rates. A significant portion of these movements seemed to reflect changes in term premiums. Market partic
[2021-07-28] Participants discussed the progress toward the Committee's goals since December 2020, when the Committee adopted its guidance for asset purchases. They generally judged that the Committee's standard o
[2021-07-28] The path of the economy continues to depend on the course of the virus. Progress on vaccinations will likely continue to reduce the effects of the public health crisis on the economy, but risks to the
[2021-07-28] Growth in manufacturing output had picked up modestly in the second quarter. Although production in the chemicals industry had rebounded from the weather-related disruptions earlier in the year, the s
[2021-07-28] Discussion of Asset Purchases Participants discussed aspects of the Federal Reserve's asset purchases, including progress made toward the Committee's maximum-employment and price-stability goals since
[2021-07-28] With respect to the path of net asset purchases, respondents to the Open Market Desk's surveys of primary dealers and market participants expected communications on asset purchases to evolve gradually
[2021-07-28] In their discussion of considerations related to asset purchases, various participants noted that these purchases were an important part of the monetary policy toolkit and a critical aspect of the Fed
[2021-07-28] Jennifer Gallagher, Special Assistant to the Board, Division of Board Members, Board
[2021-07-28] Stephanie E. Curcuru2 and Andrea Raffo, Deputy Associate Directors, Division of International Finance, Board; Laura Lipscomb2 and Zeynep Senyuz, Deputy Associate Directors, Division of Monetary Affair
[2021-07-28] The vote also encompassed approval of the statement below for release at 2:00 p.m.:
[2021-07-28] 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
[2021-07-28] Members agreed that the Federal Reserve was 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-stabilit
[2021-07-28] The staff's near-term outlook for inflation was revised up further in response to incoming data, but the staff continued to expect that this year's rise in inflation would prove to be transitory. The
[2021-07-28] Erin E. Ferris2 and Andrei Zlate, Principal Economists, Division of Monetary Affairs, Board
[2021-07-28] Jon Faust3 and Joshua Gallin, Senior Special Advisers to the Chair, Division of Board Members, Board
[2021-07-28] Staff Review of the Economic Situation The information available at the time of the July 27–28 meeting suggested that U.S. real gross domestic product (GDP) had increased in the second quarter at a fa
[2021-07-28] Recent 12-month change measures of inflation, using either PCE prices or the consumer price index (CPI), had been boosted by base effects as the extremely low inflation readings from the spring of 202
[2021-07-28] The Treasury yield curve flattened, on net, with the 2‑year yield about unchanged, the 5-year yield declining a bit, and the 10- and 30-year yields each decreasing about 30 basis points. The decline i
[2021-07-28] The manager turned next to a discussion of developments in operations and money markets over the period. Following the June meeting, overnight rates rose in line with the technical adjustment in admin
[2021-07-28] Participants' Views on Current Economic Conditions and the Economic Outlook In their discussion of current conditions, participants noted that, with progress on vaccinations and strong policy support,
[2021-07-28] The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. With inflation having run persistently below this longer-run goal, the Committee will aim
[2021-07-28] Participants observed that economic activity continued to expand at a rapid pace through the middle of the year even though capacity constraints were restraining the increase in output in some sectors
[2021-07-28] Isabel Cairó, Senior Economist, Division of Monetary Affairs, Board
[2021-07-28] Participants commented on other factors that were relevant for their consideration of future adjustments to the pace of asset purchases. Many participants noted that, when a reduction in the pace of a
[2021-07-28] Several foreign central banks scaled back their asset purchase programs. The Bank of Canada and the Reserve Bank of Australia reduced the pace of their asset purchases, and the Reserve Bank of New Zea
[2021-07-28] "Effective July 29, 2021, the Federal Open Market Committee directs the Desk to:
[2021-07-28] Total nonfarm payroll employment rose sharply in June, with job gains widespread across industries and especially strong job growth in the leisure and hospitality sector. As of June, total payroll emp
[2021-07-28] Participants exchanged views on what the composition of asset purchases should be during the tapering process. Most participants remarked that they saw benefits in reducing the pace of net purchases o
[2021-07-28] Elizabeth Klee, Senior Associate Director, Division of Financial Stability, Board; David E. Lebow, Michael G. Palumbo, and John J. Stevens, Senior Associate Directors, Division of Research and Statist
[2021-07-28] Commercial and industrial (C&I) loans outstanding at banks continued to decline in June, with forgiveness of Paycheck Protection Program loans more than offsetting the volumes of new loan originations
[2021-07-28] For commercial real estate (CRE) financed through capital markets, financing conditions remained accommodative. Spreads of agency and non-agency commercial mortgage-backed securities (CMBS) were gener
[2021-07-28] Participants who commented on financial stability emphasized the risks associated with elevated valuations across many asset classes. A few participants highlighted scenarios in which a prolonged peri
[2021-07-28] Jerome H. Powell, Chair John C. Williams, Vice Chair Thomas I. Barkin Raphael W. Bostic Michelle W. Bowman Lael Brainard Richard H. Clarida Mary C. Daly Charles L. Evans Randal K. Quarles Christopher
[2021-07-28] Mark A. Carlson, Senior Economic Project Manager, Division of Monetary Affairs, Board
[2021-07-28] Financing conditions in the residential real estate market remained accommodative. This was particularly true for stronger borrowers who met standard conforming loan criteria. In addition, according t
[2021-07-28] The credit quality of large nonfinancial corporations remained stable over the intermeeting period. The volume of credit rating upgrades for nonfinancial corporate bonds and leveraged loans moderately
[2021-07-28] The Committee voted unanimously to approve the establishment of the SRF. All but one member of the Committee voted to approve the FIMA Repo Facility. Governor Bowman abstained from voting on the FIMA
[2021-07-28] Members agreed that the postmeeting statement should acknowledge the economy's continued recovery as well as its progress toward the Committee's maximum-employment and price-stability goals set forth
[2021-07-28] Concerns about the worldwide spread of the Delta variant weighed somewhat on risk sentiment in global financial markets over the intermeeting period. The dollar broadly appreciated, longer-term yields
[2021-07-28] Standing FIMA Repurchase Agreement Resolution The Federal Open Market Committee (the "Committee") authorizes and directs the Open Market Desk at the Federal Reserve Bank of New York (the "Selected Ban
[2021-07-28] 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 Trevor A. Reeve, Econo
[2021-07-28] Real PCE appeared to have risen in the second quarter at a pace similar to that seen in the first quarter, supported by previous rounds of federal stimulus payments and reductions in social distancing
[2021-07-28] 5. As announced on June 2, 2021, the Board approved a final rule, effective July 29, amending Regulation D to eliminate references to an interest on required reserves (IORR) rate and to an interest on
[2021-07-28] Available indicators suggested that growth in business fixed investment had slowed sharply in the second quarter, reflecting disruptions to motor vehicle production and aircraft deliveries and a faste
[2021-07-28] Participants commented on the continued improvement in labor market conditions in recent months driven by strong demand for workers. The monthly pace of job gains had picked up, with employment expand
[2021-07-28] William F. Bassett, Antulio N. Bomfim, Burcu Duygan-Bump, Jane E. Ihrig, Kurt F. Lewis, Chiara Scotti, and Nitish R. Sinha, Special Advisers to the Board, Division of Board Members, Board
[2021-07-28] 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
[2021-07-28] Developments in Financial Markets and Open Market Operations The manager turned first to a discussion of developments in financial markets. Although there were notable moves in some asset prices over
[2021-07-28] Randall A. Williams, Lead Information Manager, Division of Monetary Affairs, Board
[2021-07-28] In their discussion of the household sector, participants remarked that consumer spending had continued to increase at a very rapid pace, supported by the ongoing reopening of the economy along with t
[2021-07-28] Patrick Harker, Robert S. Kaplan, and Neel Kashkari, Presidents of the Federal Reserve Banks of Philadelphia, Dallas, and Minneapolis, respectively
[2021-07-28] Brett Berger,2 Senior Adviser, Division of International Finance, Board; Ellen E. Meade and Edward Nelson, Senior Advisers, Division of Monetary Affairs, Board
[2021-07-28] Kathleen O. Paese, First Vice President, Federal Reserve Bank of St. Louis
[2021-07-28] In discussing the uncertainty and risks associated with the economic outlook, many participants remarked that uncertainty was quite high, with slowing in progress on vaccinations and developments surr
[2021-07-28] Looking ahead, market participants were beginning to focus on the potential effects of changes in the Treasury General Account at the Federal Reserve and Treasury bill issuance over coming months in c
[2021-08-18] Minutes of the Federal Open Market Committee July 27-28, 2021: HTML | PDF
[2021-08-18] FOMC minutes can be viewed on the Board's website at http://www.federalreserve.gov/monetarypolicy/fomccalendars.htm
[2021-08-18] 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
[2021-08-18] The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on July 27–28, 2021.
[2021-08-24] Note: On September 23, 2021, the June 16 and July 28, 2021, minutes were updated to add references to the associated Federal Register documents.
[2021-08-24] The Federal Reserve Board on Tuesday released the minutes of its interest rate meetings on July 19 and July 28, 2021.
[2021-09-22] Members agreed that the postmeeting statement should acknowledge the slowing of the economic recovery, as indicated in data received since the July meeting, as well as ongoing elevated inflation readi
[2021-09-22] No decision to proceed with a moderation of asset purchases was made at the meeting, but participants generally assessed that, provided that the economic recovery remained broadly on track, a gradual
[2021-09-22] In domestic credit markets, large nonfinancial firms had ample access to market-based financing as market participants appeared confident in the domestic corporate credit outlook. After accounting for
[2021-09-22] 2. Attended through the discussion of developments in financial markets and open market operations. (This footnote was corrected on November 26, 2021, to replace an erroneous reference to a "discussio
[2021-09-22] A joint meeting of the Federal Open Market Committee and the Board of Governors of the Federal Reserve System was held by videoconference on Tuesday, September 21, 2021, at 1:00 p.m. and continued on
[2021-09-22] In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adj
[2021-09-22] Michele Cavallo, Camelia Minoiu, and Anna Orlik, Principal Economists, Division of Monetary Affairs, Board
[2021-09-22] Eric C. Engstrom, Deputy Associate Director, Division of Monetary Affairs, Board; Patrick E. McCabe, Deputy Associate Director, Division of Research and Statistics, Board; Skander Van den Heuvel, Depu
[2021-09-22] Andreas L. Hornstein, Senior Advisor, Federal Reserve Bank of Richmond
[2021-09-22] Notation Vote By notation vote completed on August 17, 2021, the Committee unanimously approved the minutes of the Committee meeting held on July 27–28, 2021.
[2021-09-22] Participants also expressed their views on how slowing in the pace of purchases might proceed. In particular, participants commented on an illustrative path, developed by the staff and reflecting part
[2021-09-22] Foreign asset prices fluctuated moderately over the intermeeting period as market participants continued to assess the effect of the Delta variant on global growth and inflation. Concerns about a pote
[2021-09-22] Matthew D. Raskin,2 Vice President, Federal Reserve Bank of New York
[2021-09-22] With regard to the directive to the Desk, members agreed that the directive should incorporate the proposed increase in the per-counterparty limit for the ON RRP facility to $160 billion.
[2021-09-22] With progress on vaccinations and strong policy support, indicators of economic activity and employment have continued to strengthen. The sectors most adversely affected by the pandemic have improved
[2021-09-22] In their discussion of the household sector, participants noted that consumer spending had decelerated in recent months after expanding at a very rapid pace in the first half of the year. The spread o
[2021-09-22] Participants noted that labor market conditions had continued to improve in recent months. The unemployment rate declined further to 5.2 percent in August, and a few participants noted a further picku
[2021-09-22] Linda Robertson, Assistant to the Board, Division of Board Members, Board
[2021-09-22] The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. With inflation having run persistently below this longer-run goal, the Committee will aim
[2021-09-22] 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
[2021-09-22] Participants noted that their District contacts had broadly reported having difficulty hiring workers. The labor shortages were causing firms to reduce hours and scale back production while also leadi
[2021-09-22] "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.
[2021-09-22] Survey-based indicators suggest small business owners, especially from COVID-sensitive sectors that include lodging and food services, arts, entertainment and recreation, and educational services, bec
[2021-09-22] Voting for this action: Jerome H. Powell, John C. Williams, Thomas I. Barkin, Raphael W. Bostic, Michelle W. Bowman, Lael Brainard, Richard H. Clarida, Mary C. Daly, Charles L. Evans, Randal K. Quarle
[2021-09-22] David Altig, Brian M. Doyle, Rochelle M. Edge, Sylvain Leduc, Anna Paulson, and William Wascher, Associate Economists
[2021-09-22] Jon Faust and Joshua Gallin, Senior Special Advisers to the Chair, Division of Board Members, Board
[2021-09-22] 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
[2021-09-22] Participants reaffirmed that the Committee's "substantial further progress" standard regarding its asset purchases was distinct from the criteria given in its forward guidance on the federal funds rat
[2021-09-22] Staff Review of the Financial Situation Financial market prices were little changed over the intermeeting period. Concerns over the period about the effects of COVID-19 developments on economic perfor
[2021-09-22] Marnie Gillis DeBoer, Senior Associate Director, Division of Monetary Affairs, Board; Susan V. Foley,2 Senior Associate Director, Division of Reserve Bank Operations and Payment Systems, Board; Diana
[2021-09-22] The credit quality of large nonfinancial corporations remained strong with a positive outlook. The volume of credit rating upgrades for nonfinancial bonds outpaced downgrades noticeably in July and Au
[2021-09-22] Randall A. Williams, Lead Information Manager, Division of Monetary Affairs, Board
[2021-09-22] Yields on intermediate-maturity Treasury securities increased modestly, on net, amid mixed news on economic activity and the pandemic, and slightly less-accommodative-than-expected July FOMC communica
[2021-09-22] Although real PCE declined in July, the components of retail sales used to estimate PCE rose strongly in August, returning to levels seen in the spring. However, concerns about the course of the pande
[2021-09-22] Staff Economic Outlook The projection for U.S. economic activity prepared by the staff for the September FOMC meeting was broadly similar to the July projection. In the second half of 2021, supply con
[2021-09-22] In the municipal bond market, financing conditions remained accommodative. Issuance of municipal debt was strong in July and August and indicators of credit quality of municipal debt remained healthy,
[2021-09-22] Anne Baum, Carlos Garriga, Edward S. Knotek II, Giovanni Olivei, and Mark L.J. Wright, Senior Vice Presidents, Federal Reserve Banks of New York, St. Louis, Cleveland, Boston, and Minneapolis, respect
[2021-09-22] Andrew Figura and Elizabeth K. Kiser, Associate Directors, Division of Research and Statistics, Board; Paul R. Wood, Associate Director, Division of International Finance, Board
[2021-09-22] The vote also encompassed approval of the statement below for release at 2:00 p.m.:
[2021-09-22] Staff Review of the Economic Situation The information available at the time of the September 21–22 meeting suggested that U.S. real GDP was increasing in the third quarter at a slower pace than in th
[2021-09-22] Committee Policy Action In their discussion of monetary policy for this meeting, members agreed that with progress on vaccinations and strong policy support, indicators of economic activity and employ
[2021-09-22] Patrick Harker, Robert S. Kaplan, and Neel Kashkari, Presidents of the Federal Reserve Banks of Philadelphia, Dallas, and Minneapolis, respectively
[2021-09-22] 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 Trevor A. Reeve, Econo
[2021-09-22] Meredith Black, First Vice President, Federal Reserve Bank of Dallas
[2021-09-22] In their discussion of current conditions, participants noted that, with progress on vaccinations and strong policy support, indicators of economic activity and employment had continued to strengthen.
[2021-09-22] 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
[2021-09-22] Total nonfarm payroll employment increased sharply in July but rose much less rapidly in August, with job gains in the leisure and hospitality sector slowing to zero. In addition, state and local gove
[2021-09-22] In their comments on inflation expectations, several participants observed that measures of longer-term inflation expectations, including TIPS- and survey-based measures, had remained in ranges that w
[2021-09-22] PRESENT: Jerome H. Powell, Chair John C. Williams, Vice Chair Thomas I. Barkin Raphael W. Bostic Michelle W. Bowman Lael Brainard Richard H. Clarida Mary C. Daly Charles L. Evans Randal K. Quarles Chr
[2021-09-22] Total real government purchases appeared to be increasing in the third quarter after having moved lower in the second quarter. Available data suggested that federal nondefense purchases were declining
[2021-09-22] With respect to the business sector, participants observed that firms in a number of industries were facing challenges keeping up with strong demand due to widespread supply chain bottlenecks as well
[2021-09-22] 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
[2021-09-22] 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. With progres
[2021-09-22] Consistent with the Committee's decision to leave the target range for the federal funds rate unchanged, the Board voted unanimously to maintain the interest rate paid on reserve balances at 0.15 perc
[2021-09-22] In their discussion of inflation, participants observed that the inflation rate was elevated, and they expected that it would likely remain so in coming months before moderating. Participants marked u
[2021-09-22] Participants observed that economic activity had continued to expand in recent months, though at a less rapid pace than in the first half of the year. They marked down their projections of real GDP gr
[2021-09-22] Short-term funding markets were stable over the intermeeting period. The effective federal funds rate declined slightly, from 10 basis points at the beginning of the period to 8 basis points at the en
[2021-09-22] Participants resumed their discussions on the progress made toward the Committee's goals since December 2020, when the Committee adopted its guidance regarding asset purchases and indicated that purch
[2021-09-22] Many participants remarked upon risk-management considerations and the way in which these figured into their thinking on asset purchases and the appropriate policy stance. A number of downside risks t