yusufizzetmurat/fed-pulse-embedding-caches huggingface dataset:
[2019-06-19] It was agreed that the next meeting of the Committee would be held on Tuesday–Wednesday, July 30–31, 2019. The meeting adjourned at 10:05 a.m. on June 19, 2019.
[2019-07-10] FOMC minutes can be viewed on the Board’s website at http://www.federalreserve.gov/monetarypolicy/fomccalendars.htm
[2019-07-10] Minutes of the Federal Open Market Committee June 18-19, 2019: HTML | PDF
[2019-07-10] 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
[2019-07-10] The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on June 18-19, 2019. A summary of economic projections made by
[2019-07-16] The Federal Reserve Board on Tuesday released the minutes of its interest rate meeting on June 19, 2019.
[2019-07-31] "Information received since the Federal Open Market Committee met in June indicates that the labor market remains strong and that economic activity has been rising at a moderate rate. Job gains have b
[2019-07-31] Consistent with the Committee's decision to lower the target range for the federal funds rate to 2 to 2-1/4 percent, the Board of Governors voted unanimously to lower the interest rate paid on require
[2019-07-31] Robert G. Valletta, Group Vice President, Federal Reserve Bank of San Francisco
[2019-07-31] In their discussion of monetary policy decisions at this meeting, those participants who favored a reduction in the target range for the federal funds rate pointed to three broad categories of reasons
[2019-07-31] Participants generally noted that incoming data over the intermeeting period had been largely positive and that the economy had been resilient in the face of ongoing global developments. The economy c
[2019-07-31] Joshua Gallin, Special Adviser to the Chair, Office of Board Members, Board of Governors
[2019-07-31] Vasco Curdia,3 Research Advisor, Federal Reserve Bank of San Francisco
[2019-07-31] Linda Robertson, Assistant to the Board, Office of Board Members, Board of Governors
[2019-07-31] Norman J. Morin, Deputy Associate Director, Division of Research and Statistics, Board of Governors; Andrea Raffo, Deputy Associate Director, Division of International Finance, Board of Governors; Jef
[2019-07-31] In the commercial real estate (CRE) sector, financing conditions remained generally accommodative despite a modest deceleration in bank loan growth. Banks in the July SLOOS reported that standards wer
[2019-07-31] Expectations for near-term domestic policy easing had occurred against the backdrop of a global shift toward more accommodative monetary policy. Several central banks had eased policy over the past mo
[2019-07-31] Participants also discussed the timing of ending the reduction in the Committee's aggregate securities holdings in the SOMA. Ending the reduction of securities holdings in August had the advantage of
[2019-07-31] Participants generally judged that downside risks to the outlook for economic activity had diminished somewhat since their June meeting. The strong June employment report suggested that the weak May p
[2019-07-31] The staff's forecast of total PCE price inflation this year was revised up a touch, reflecting a slightly higher projected path for consumer energy prices, while the forecast for core PCE price inflat
[2019-07-31] Randall A. Williams, Senior Information Manager, Division of Monetary Affairs, Board of Governors
[2019-07-31] Voting for this action: Jerome H. Powell, John C. Williams, Michelle W. Bowman, Lael Brainard, James Bullard, Richard H. Clarida, Charles L. Evans, Randal K. Quarles.
[2019-07-31] The Committee will conclude the reduction of its aggregate securities holdings in the System Open Market Account in August, two months earlier than previously indicated."
[2019-07-31] Jon Faust, Senior Special Adviser to the Chair, Office of Board Members, Board of Governors
[2019-07-31] Financing conditions for nonfinancial businesses remained accommodative. Gross issuance of corporate bonds remained robust in June, followed by a typical seasonal decline in July. Issuance of institut
[2019-07-31] 4. Attended through the discussion of developments in financial markets and open market operations. Return to text
[2019-07-31] A couple of participants indicated that they would have preferred a 50 basis point cut in the federal funds rate at this meeting rather than a 25 basis point reduction. They favored a stronger action
[2019-07-31] Members agreed that in determining the timing and size of future adjustments to the target range for the federal funds rate, the Committee would assess realized and expected economic conditions relati
[2019-07-31] Terry Fitzgerald, Christopher J. Neely,3 and Patricia Zobel, Vice Presidents, Federal Reserve Banks of Minneapolis, St. Louis, and New York, respectively
[2019-07-31] Ellen J. Bromagen, First Vice President, Federal Reserve Bank of Chicago
[2019-07-31] David H. Small, Project Manager, Division of Monetary Affairs, Board of Governors
[2019-07-31] The staff provided an update on its assessments of potential risks to financial stability. On balance, the staff continued to view vulnerabilities as moderate. The staff judged asset valuation pressur
[2019-07-31] Rochelle M. Edge, Beverly Hirtle, Christopher J. Waller, William Wascher, and Beth Anne Wilson, Associate Economists
[2019-07-31] Ann E. Misback,2 Secretary, Office of the Secretary, Board of Governors
[2019-07-31] Patrick Harker, Robert S. Kaplan, Neel Kashkari, Loretta J. Mester, and Michael Strine, Alternate Members of the Federal Open Market Committee
[2019-07-31] Real nonresidential private fixed investment edged down in the second quarter, as a decline in expenditures on nonresidential structures more than offset an increase in expenditures for business equip
[2019-07-31] Andreas L. Hornstein, Senior Advisor, Federal Reserve Bank of Richmond
[2019-07-31] Margie Shanks,5 Deputy Secretary, Office of the Secretary, Board of Governors
[2019-07-31] Conditions in domestic short-term funding markets remained fairly stable. Overnight interest rates in both unsecured and secured markets were somewhat elevated over the period. In particular, repo rat
[2019-07-31] Notation Vote By notation vote completed on July 9, 2019, the Committee unanimously approved the minutes of the Committee meeting held on June 18–19, 2019.
[2019-07-31] It was agreed that the next meeting of the Committee would be held on Tuesday–Wednesday, September 17–18, 2019. The meeting adjourned at 11:15 a.m. on July 31, 2019.
[2019-07-31] Real residential investment declined again in the second quarter. Al­though starts of new single-family homes rose in June, the average in the second quarter was lower than in the first quarter; start
[2019-07-31] Participants commented on the robust pace of consumer spending. Noting the important role that household spending was currently playing in supporting the expansion, participants judged that household
[2019-07-31] Measures of expectations for near-term domestic monetary policy exhibited notable shifts and reversals over the intermeeting period and ended the period little changed, on net, with market participant
[2019-07-31] Effective August 1, 2019, the Committee directs the Desk to roll over at auction all principal payments from the Federal Reserve's holdings of Treasury securities and to reinvest all principal payment
[2019-07-31] Don Kim, Edward Nelson, and Robert J. Tetlow, Senior Advisers, Division of Monetary Affairs, Board of Governors; S. Wayne Passmore, Senior Adviser, Division of Research and Statistics, Board of Govern
[2019-07-31] Karel Mertens, Senior Economic Policy Advisor, Federal Reserve Bank of Dallas
[2019-07-31] Total consumer prices, as measured by the PCE price index, increased 1.4 percent over the 12 months ending in June. This increase was slower than a year earlier, as core PCE price inflation (which exc
[2019-07-31] With regard to the current monetary policy framework, participants agreed that this framework had served the Committee and the U.S. economy well over the past decade. They judged that forward guidance
[2019-07-31] Regarding inflation developments, some participants stressed that, even with the firming of readings for consumer prices in recent months, both overall and core PCE price inflation rates continued to
[2019-07-31] Participants' Views on Current Conditions and the Economic Outlook Participants agreed that the labor market had remained strong over the intermeeting period and that economic activity had risen at a
[2019-07-31] Incoming data suggested that growth in the foreign economies remained subdued in the second quarter. In several key advanced foreign economies, including the euro area, recent indicators pointed to sl
[2019-07-31] Voting against this action: Esther L. George and Eric Rosengren.
[2019-07-31] 3. Attended the discussion of the review of monetary policy framework. Return to text
[2019-07-31] Thomas I. Barkin, Raphael W. Bostic, and Mary C. Daly, Presidents of the Federal Reserve Banks of Richmond, Atlanta, and San Francisco, respectively
[2019-07-31] In their discussion of the outlook for monetary policy beyond this meeting, participants generally favored an approach in which policy would be guided by incoming information and its implications for
[2019-07-31] Reinvestment Plans The manager pro tem described the Desk's plans for reinvestments in light of the Committee's decision to conclude the reduction of aggregate securities holdings in the SOMA portfoli
[2019-07-31] Participants looked forward to a detailed discussion over coming meetings of alternative strategies for monetary policy. Some participants offered remarks on general features of some of the monetary p
[2019-07-31] 5. Attended the discussion of economic developments and outlook through discussion of monetary policy. Return to text
[2019-07-31] The nominal U.S. international trade deficit widened in May relative to April, as imports increased more than exports. In June, preliminary data indicated declining nominal goods exports and imports.
[2019-07-31] Isabel Cairó,3 Senior Economist, Division of Research and Statistics, Board of Governors
[2019-07-31] Brent Bundick, Research and Policy Advisor, Federal Reserve Bank of Kansas City
[2019-07-31] Total nonfarm payroll employment expanded at a solid rate, on average, in recent months, supported by a brisk gain in June. The unemployment rate edged up to 3.7 percent in June but was still at a his
[2019-07-31] Voting for the monetary policy action were Jerome H. Powell, Chair; John C. Williams, Vice Chair; Michelle W. Bowman; Lael Brainard; James Bullard; Richard H. Clarida; Charles L. Evans; and Randal K.
[2019-07-31] The nominal U.S. Treasury yield curve was little changed, on net, over the intermeeting period. Both the near-term forward spread and the spread between 10‑year and 3-month Treasury yields are still i
[2019-07-31] Participants also discussed developments across the manufacturing, agriculture, and energy sectors of the U.S. economy. Manufacturing production had declined so far this year, dragged down in part by
[2019-07-31] In their discussion of the business sector, participants generally saw uncertainty surrounding trade policy and concerns about global growth as continuing to weigh on business confidence and firms' ca
[2019-07-31] The vote also encompassed approval of the statement below to be released at 2:00 p.m.:
[2019-07-31] In their discussion of policy tools, participants noted that the experience acquired by the Committee with the use of forward guidance and asset purchases has led to an improved understanding of how t
[2019-07-31] Staff Review of the Economic Situation The information available for the July 30–31 meeting indicated that labor market conditions remained strong and that real gross domestic product (GDP) increased
[2019-07-31] 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
[2019-07-31] 1. The Federal Open Market Committee is referenced as the "FOMC" and the "Committee" in these minutes. Return to text
[2019-07-31] Industrial production (IP) was unchanged in June, as a decrease in the output of utilities offset increases in the output of manufacturers and mines. For the second quarter as a whole, both total IP a
[2019-07-31] Developments in Financial Markets and Open Market Operations The manager pro tem discussed developments in financial markets over the intermeeting period. Regarding market participants' views about th
[2019-07-31] Joseph G. Haubrich, Senior Economic and Policy Advisor, Federal Reserve Bank of Cleveland
[2019-07-31] "Effective August 1, 2019, the Federal Open Market Committee directs the Desk to undertake open market operations as necessary to maintain the federal funds rate in a target range of 2 to 2-1/4 percen
[2019-07-31] The manager pro tem next discussed developments in money markets and open market operations. The spreads of the effective federal funds rate (EFFR) and the median Eurodollar rate relative to the inter
[2019-07-31] 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 maximum emp
[2019-07-31] Among those participants who commented on financial stability, most highlighted recent credit market developments, the elevated valuations in some asset markets, and the high level of nonfinancial cor
[2019-07-31] Real consumer expenditures rose briskly in the second quarter after a sluggish gain in the first quarter, supported in part by a robust pace of light motor vehicle sales in May and June. However, real
[2019-07-31] President Rosengren dissented because he did not see a clear and compelling case for additional accommodation at this time given that the unemployment rate stood near 50-year lows, inflation seemed li
[2019-07-31] 2. Attended through the discussion of economic developments and outlook. Return to text
[2019-07-31] Committee Policy Action In their discussion of monetary policy for this meeting, members noted that while there had been some improvement in economic conditions over the intermeeting period and the ov
[2019-07-31] Minutes of the Federal Open Market Committee July 30â31, 2019 A joint meeting of the Federal Open Market Committee and the Board of Governors was held in the offices of the Board of Governors of the
[2019-07-31] In consumer credit markets, financing conditions were little changed in recent months and remained generally supportive of consumer spending. Growth in consumer credit in April and May was up a bit fr
[2019-07-31] David Altig, Michael Dotsey, and Jeffrey Fuhrer, Executive Vice Presidents, Federal Reserve Banks of Atlanta, Philadelphia, and Boston, respectively
[2019-07-31] Marc Giannoni,3 Spencer Krane, and Paula Tkac,3 Senior Vice Presidents, Federal Reserve Banks of Dallas, Chicago, and Atlanta, respectively
[2019-07-31] Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In light of the implications of global developments for the economic outlook as well as mut
[2019-07-31] Several participants favored maintaining the same target range at this meeting, judging that the real economy continued to be in a good place, bolstered by confident consumers, a strong job market, an
[2019-07-31] Marnie Gillis DeBoer and Min Wei, Associate Directors, Division of Monetary Affairs, Board of Governors; Elizabeth Klee, Associate Director, Division of Financial Stability, Board of Governors; John J
[2019-07-31] Alyssa G. Anderson, Principal Economist, Division of Monetary Affairs, Board of Governors; Dario Caldara3 and Albert Queralto,3 Principal Economists, Division of International Finance, Board of Govern
[2019-07-31] President George dissented because she believed that an unchanged setting of policy was appropriate based on the incoming data and the outlook for economic activity over the medium term. Recognizing r
[2019-07-31] Staff Review of the Financial Situation Over the intermeeting period, financial market developments reflected noticeable shifts in expectations for monetary policy in response to Federal Reserve commu
[2019-07-31] Most sovereign long-term bond yields edged lower, on net, reflecting firming expectations for further policy accommodation amid growing concerns about the global economic outlook. Italian yields decli
[2019-07-31] Participants also discussed the Committee's Statement on Longer-Run Goals and Monetary Policy Strategy. Participants noted that this statement had been helpful in articulating and clarifying the Feder
[2019-07-31] With this adjustment to policy, those members who voted for the policy action sought to better position the overall stance of policy to help counter the effects on the outlook of weak global growth an
[2019-07-31] Staff Economic Outlook The projection for U.S. economic activity prepared by the staff for the July FOMC meeting was revised up somewhat in the near term, as an upward revision to households' real dis
[2019-07-31] Participants continued to view a sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee's symmetric 2 percent objective as the most likely outcomes.
[2019-07-31] The Committee also directs the Desk to engage in dollar roll and coupon swap transactions as necessary to facilitate settlement of the Federal Reserve's agency mortgage-backed securities transactions.
[2019-07-31] Somewhat reduced concern among market participants about important risks to the global outlook also appeared to support risk asset prices. Following the G-20 (Group of Twenty) meeting in late June, fe
[2019-07-31] Total real government purchases rose solidly in the second quarter. Federal defense spending increased, and nondefense purchases returned to more typical levels after the partial federal government sh
[2019-07-31] Review of Monetary Policy Strategy, Tools, and Communication Practices Committee participants began their discussions related to the ongoing review of the Federal Reserve's monetary policy strategy, t
[2019-07-31] Jerome H. Powell, Chair John C. Williams, Vice Chair Michelle W. Bowman Lael Brainard James Bullard Richard H. Clarida Charles L. Evans Esther L. George Randal K. Quarles Eric Rosengren
[2019-07-31] Penelope A. Beattie,3 Assistant to the Secretary, Office of the Secretary, Board of Governors
[2019-07-31] A joint meeting of the Federal Open Market Committee and the Board of Governors was held in the offices of the Board of Governors of the Federal Reserve System in Washington, D.C., on Tuesday, July 30
[2019-07-31] In their discussion of financial market developments, participants observed that financial conditions remained supportive of economic growth, with borrowing rates low and stock prices near all-time hi
[2019-07-31] Financing conditions in the residential mortgage market remained accommodative over the intermeeting period. Mortgage rates were little changed since the June FOMC meeting but remained about 1 percent
[2019-07-31] With regard to the postmeeting statement, the Committee implemented several adjustments in the description of the economic situation, including a revision to recognize that market-based measures of in
[2019-07-31] James A. Clouse, Secretary Matthew M. Luecke, Deputy Secretary David W. Skidmore, Assistant Secretary Michelle A. Smith, Assistant Secretary Mark E. Van Der Weide, General Counsel Michael Held, Deputy
[2019-07-31] In their discussion of the outlook for inflation, participants generally anticipated that with appropriate policy, inflation would move up to the Committee's 2 percent objective over the medium term.
[2019-07-31] Brian M. Doyle,6 Wendy E. Dunn, Joseph W. Gruber, Ellen E. Meade, and John M. Roberts, Special Advisers to the Board, Office of Board Members, Board of Governors
[2019-07-31] The staff continued to view the uncertainty around its projections for real GDP growth, the unemployment rate, and inflation as generally similar to the average of the past 20 years. Moreover, the sta
[2019-07-31] Broad stock price indexes increased, on net, over the intermeeting period, with notable increases following the June FOMC communications, the Chair's July Monetary Policy Report testimony, and announc
[2019-07-31] Accommodative central bank communications, both in the United States and abroad, and some easing of trade tensions generally supported foreign risky assets over the intermeeting period. Global equity
[2019-07-31] The manager pro tem updated the Committee on Desk plans to resume CUSIP (Committee on Uniform Securities Identification Procedures) aggregation of SOMA holdings of Fannie Mae and Freddie Mac agency mo
[2019-07-31] In their discussion of the labor market, participants judged that conditions remained strong, with the unemployment rate near historical lows and continued solid job gains, on average, in recent month
[2019-07-31] Etienne Gagnon, Section Chief, Division of Monetary Affairs, Board of Governors
[2019-07-31] In their discussion, participants welcomed the review of the monetary policy framework. They noted that the inclusion of feedback from the public as part of the review, via the Fed Listens events, had
[2019-07-31] Shaghil Ahmed, Senior Associate Director, Division of International Finance, Board of Governors; David E. Lebow and Michael G. Palumbo, Senior Associate Directors, Division of Research and Statistics,
[2019-07-31] 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
[2019-07-31] Information received since the Federal Open Market Committee met in June indicates that the labor market remains strong and that economic activity has been rising at a moderate rate. Job gains have be
[2019-07-31] Eric Belsky,3 Director, Division of Consumer and Community Affairs, Board of Governors; Matthew J. Eichner,4 Director, Division of Reserve Bank Operations and Payment Systems, Board of Governors; Andr
[2019-07-31] Participants expected that, at upcoming meetings, they would continue their deliberations on the review of the Federal Reserve's monetary policy strategy, tools, and communication practices. These add
[2019-07-31] Arthur Lindo, Deputy Director, Division of Supervision and Regulation, Board of Governors; Trevor A. Reeve, Deputy Director, Division of Monetary Affairs, Board of Governors
[2019-07-31] 7. In taking this action, the Board approved requests to establish that rate submitted by the boards of directors of the Federal Reserve Banks of Philadelphia, Chicago, St. Louis, Dallas, and San Fran
[2019-08-01] The Federal Reserve Board has approved actions on Thursday by the Boards of Directors of the Federal Reserve Banks of Boston, New York, Cleveland, Richmond, Atlanta, Minneapolis, and Kansas City, decr
[2019-08-15] All tenders that are complete and compliant with the operation parameters listed above will be automatically awarded in full.
[2019-08-15] Summary operation results will be published on the Board of Governors' website (http://www.federalreserve.gov/monetarypolicy/tdf.htm) at approximately 3:30 p.m. EDT on the notification date.
[2019-08-15] Notification Participants will be able to view their awards by accessing the Term Deposit Facility application.
[2019-08-15] Submission of Tender Participants must submit tenders by accessing the Term Deposit Facility application (https://www.frbservices.org/sign-in/term-deposit-facility.html) between the opening time and t
[2019-08-15] Early Withdrawal The penalty for obtaining a return of funds prior to the maturity date includes the forfeiture of all interest on the term deposit plus an additional fee of 0.75000 percent at an annu
[2019-08-15] On August 22, 2019, the Federal Reserve will conduct a floating-rate offering of term deposits with an early withdrawal feature through its TDF. The Federal Reserve will offer seven-day term deposits