yusufizzetmurat/fed-pulse-embedding-caches huggingface dataset:
[2021-01-01] In particular, we are closely monitoring the emergence of the coronavirus, which is likely to have a noticeable impact on Chinese growth, at least in the first quarter of this year.
[2021-01-01] cpi inflation has risen to the low end of the bank’s 1-3 percent target range in recent months, while measures of core inflation are still below 2 percent.
[2021-01-01] consumer spending appeared to be increasing in the first quarter at a pace considerably faster, on balance, than in the fourth quarter of last year.
[2021-01-01] housing prices, in particular, had increased strongly in a number of countries in the latter part of 2020 and early 2021.
[2021-01-01] with regard to the second condition outlined by mr lane, the phrase “on a durable basis” was seen to provide flexibility by allowing for small oscillations around the target level.
[2021-01-01] moreover, it was deemed essential that the governing council reaffirm its commitment to achieve its stated inflation aim.
[2021-01-01] as had been the case for some time, the flow of new listings for sale remained similar to pre-pandemic levels but total listings were much lower, implying that dwellings were being sold at a rapid pac
[2021-01-01] In their discussion of monetary policy for the intermeeting period, Committee members agreed that the Federal Reserve's large-scale securities purchases were providing financial stimulus that would co
[2021-01-01] in particular, the preamble limited the validity and scope of the new forward guidance to a situation in which robust convergence was not yet assured.
[2021-01-01] the measured volume of government output in january had been reduced by sharp falls in education output as schools had closed again.
[2021-01-01] the eonia forward curve had also flattened considerably in recent weeks, although this likely mirrored the decline in term premia related to the increased risk from the spreading of the delta variant
[2021-01-01] Nonetheless, the potential for significant further weakening in housing activity and home prices represented a downside risk to the economic outlook.
[2021-01-01] second, risk-free rates and sovereign yields were leading indicators for financing conditions at the later stages of transmission.
[2021-01-01] in euro area bond markets, model-based analysis also suggested that the inflation risk premium had increased significantly since the start of the year, albeit from very depressed levels, implying that
[2021-01-01] both the labor force participation rate and the employment-to-population ratio moved up slightly, and both measures had recovered only partially from their lows during the pandemic.
[2021-01-01] In particular, I will focus on liquidity regulation and supervision as well as interactions with monetary policy tools.
[2021-01-01] one possibility was that the composition of demand would normalise and that any sectoral re-adjustment on the supply side might be relatively quick.
[2021-01-01] the members commented that, since then, the economy had made progress toward these goals and that, if progress continued broadly as expected, a moderation in the pace of asset purchases may soon be wa
[2021-01-01] in this context, the view was also expressed that the baseline projection for inflation in 2023 was too low.
[2021-01-01] this was widely seen as validating the governing council’s march decision to significantly increase the pace of net asset purchases under the pepp, effectively insulating euro area financing condition
[2021-01-01] on the supply side, shortages of manufacturing inputs, transportation bottlenecks, and difficulties in matching jobs to workers are limiting the economy’s productive capacity.
[2021-01-01] the bank projects global gdp will grow by 6½ percent in 2021 – a strong pace but less than projected in the july monetary policy report (mpr) – and by 4¼ percent in 2022 and about 3½ percent in 2023.
[2021-01-01] Now, we’ve long expected, as most analysts have, to see some slowing in Chinese growth over time as they rebalance their economy.
[2021-01-01] The benefits achieved through more-stable prices are substantial.
[2021-01-01] the forward curve had shifted outwards visibly after the strategy announcement, but had retraced its path more recently.
[2021-01-01] members expressed broad agreement with mr lane’s proposal to reconfirm the very accommodative monetary policy stance and to leave the ecb’s monetary policy configuration unchanged, including the propo
[2021-01-01] however, it was also reported that contacts with businesses pointed to a perception of higher inflation in a context of spikes in commodity prices, supply bottlenecks and rising production costs.
[2021-01-01] in addition, participants reported hearing from contacts in a broad range of industries that shortages of materials and labor as well as supply chain challenges were limiting the ability of firms to k
[2021-01-01] In their discussion of developments in asset markets, the participants' comments focused on two related issues: the low level of long-term interest rates and the continued run-up in home prices.
[2021-01-01] some surveyed firms were reporting a lack of available labour as a constraint on output.
[2021-01-01] Nonetheless, the reported rise in employment of temporary workers in recent months could presage a broader increase in job growth and thus was a welcome development.
[2021-01-06] Minutes of the Federal Open Market Committee December 15-16, 2020: HTML | PDF
[2021-01-06] FOMC minutes can be viewed on the Board's website at http://www.federalreserve.gov/monetarypolicy/fomccalendars.htm.
[2021-01-06] 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
[2021-01-06] The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on December 15–16, 2020.
[2021-01-12] The Federal Reserve Board on Tuesday released the minutes of its interest rate meetings from November 16 through December 16, 2020.
[2021-01-27] Transactions undertaken with Customer Accounts under the provisions of this paragraph 4 may provide for a service fee when appropriate. Transactions undertaken with Customer Accounts are also subject
[2021-01-27] Financing conditions in capital markets remained broadly accommodative, supported by low interest rates and high equity valuations. Gross corporate bond issuance was fairly strong in November and Dece
[2021-01-27] Staff Economic Outlook The U.S. economic projection prepared by the staff for the January FOMC meeting implied a considerably stronger outlook for activity in 2021 relative to the December forecast. A
[2021-01-27] C. The Subcommittee, in consultation with the Committee, may provide additional instructions to the Selected Bank regarding holdings of foreign currencies.
[2021-01-27] A. All transactions authorized in this paragraph 3 shall be conducted with prior notice to the Committee;
[2021-01-27] B. For standing and temporary dollar liquidity swap arrangements all drawings must be approved in advance by the Chair. The Chair may approve a schedule of potential drawings, and may delegate to the
[2021-01-27] Broad stock price indexes increased, on net, over the intermeeting period, boosted by gains in the share prices of banks and companies in more cyclically sensitive sectors, reportedly reflecting, in p
[2021-01-27] 10. All Federal Reserve banks shall participate in the foreign currency operations for System Open Market Account in accordance with paragraph 3G(1) of the Board of Governors' Statement of Procedure w
[2021-01-27] Patrick Harker, Robert S. Kaplan, and Neel Kashkari, Presidents of the Federal Reserve Banks of Philadelphia, Dallas, and Minneapolis, respectively
[2021-01-27] Notation Vote By notation vote completed on January 5, 2021, the Committee unanimously approved the minutes of the Committee meeting held on December 15–16, 2020.
[2021-01-27] i. As an outright operation with securities dealers and foreign and international accounts maintained at the Selected Bank: on a same-day or deferred delivery basis (including such transactions as are
[2021-01-27] i. Primarily, to ensure sufficient liquidity to enable the Selected Bank to conduct foreign currency operations as directed by the Committee;
[2021-01-27] 1. The Federal Open Market Committee (the "Committee") authorizes the Federal Reserve Bank selected by the Committee (the "Selected Bank") to execute open market transactions for the System Open Marke
[2021-01-27] 1. The Federal Open Market Committee (the "Committee") authorizes and directs the Federal Reserve Bank selected by the Committee to execute open market transactions (the "Selected Bank"), to the exten
[2021-01-27] Eric C. Engstrom, Deputy Associate Director, Division of Monetary Affairs, Board of Governors; Jeffrey D. Walker,2 Deputy Associate Director, Division of Reserve Bank Operations and Payment Systems, B
[2021-01-27] The staff provided an update on its assessments of the stability of the financial system and, on balance, characterized the financial vulnerabilities of the U.S. financial system as notable. The staff
[2021-01-27] 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
[2021-01-27] The 12‑month changes in total and core PCE prices in coming months were projected to briefly move above 2 percent in the second quarter of 2021 as the unusually low observations from the spring of 202
[2021-01-27] 5. The Committee directs the Selected Bank to report to the Committee, at each regular meeting of the Committee, on transactions undertaken pursuant to paragraphs 1 and 6 of the Authorization. The Sel
[2021-01-27] The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. The COVID-19
[2021-01-27] Shaghil Ahmed, David Altig, Kartik B. Athreya, Brian M. Doyle, Rochelle M. Edge, Eric M. Engen, Beverly Hirtle, and William Wascher, Associate Economists
[2021-01-27] Industrial production advanced further in the fourth quarter, led by a solid gain in manufacturing output, but had not yet overtaken its pre‑pandemic level. The low level of export demand since the on
[2021-01-27] Commercial and industrial (C&I) loan balances at banks continued to decline in December, albeit at a slower pace than in the fall. C&I loans declined in the fourth quarter because of weak origination
[2021-01-27] Participants noted that the increase in the Federal Reserve's balance sheet since last March had materially eased financial conditions and was providing substantial support to the economy. The Committ
[2021-01-27] "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.
[2021-01-27] C. In consultation, as appropriate, with foreign monetary authorities, foreign central banks, and international monetary institutions.
[2021-01-27] B. Undertake transactions with respect to Eligible Securities in order to appropriately address temporary disruptions of an operational or highly unusual nature in U.S. dollar funding markets.
[2021-01-27] By unanimous vote, the Committee voted to reaffirm without revision the Authorization for Domestic Open Market Operations, the Authorization for Foreign Currency Operations, and the Foreign Currency D
[2021-01-27] 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
[2021-01-27] AUTHORIZATION FOR FOREIGN CURRENCY OPERATIONS (As reaffirmed effective January 26, 2021)
[2021-01-27] Ellen E. Meade and Robert J. Tetlow, Senior Advisers, Division of Monetary Affairs, Board of Governors; Steven A. Sharpe, Senior Adviser, Division of Research and Statistics, Board of Governors
[2021-01-27] A straight read of overnight index swap (OIS) quotes suggested that the expected path of the federal funds rate beyond mid-2023 rose moderately over the intermeeting period, with the increases reporte
[2021-01-27] Expectations for the path of the target federal funds rate over the next several years, as implied by interest rate futures and by the Desk Survey of Primary Dealers and Survey of Market Participants,
[2021-01-27] Total PCE price inflation was 1.1 percent over the 12 months ending in November and continued to be held down by relatively weak aggregate demand and the declines in consumer energy prices seen over t
[2021-01-27] B. To allow Eligible Securities in the SOMA to mature without replacement;
[2021-01-27] Michele Cavallo, Olesya Grishchenko, Horacio Sapriza, and Fabian Winkler, Principal Economists, Division of Monetary Affairs, Board of Governors; Pablo Cuba-Borda, Principal Economist, Division of Int
[2021-01-27] RECIPROCAL CURRENCY ARRANGEMENTS, AND STANDING DOLLAR AND FOREIGN CURRENCY LIQUIDITY SWAPS
[2021-01-27] It was agreed that the next meeting of the Committee would be held on Tuesday–Wednesday, March 16–17, 2021. The meeting adjourned at 10:25 a.m. on January 27, 2021.
[2021-01-27] Thomas I. Barkin, President of the Federal Reserve Bank of Richmond, with Eric Rosengren, President of the Federal Reserve Bank of Boston, as alternate
[2021-01-27] John J. Stevens, Senior Associate Director, Division of Research and Statistics, Board of Governors; Gretchen C. Weinbach, Senior Associate Director, Division of Monetary Affairs, Board of Governors
[2021-01-27] iii. Subject to paragraphs 7.A.i and 7.A.ii, to provide the highest rate of return possible in each currency; and
[2021-01-27] Mary C. Daly, President of the Federal Reserve Bank of San Francisco, with Esther L. George, President of the Federal Reserve Bank of Kansas City, as alternate
[2021-01-27] Members agreed that the pandemic continued to pose considerable risks to the outlook. Nonetheless, in light of the expected progress on vaccinations and the change in the outlook for fiscal policy, th
[2021-01-27] Available indicators pointed to a strong increase in investment in equipment and intangibles in the fourth quarter of 2020, as this component of capital spending recovered from its sharp decline over
[2021-01-27] 3. Committee organizational documents are available at www.federalreserve.gov/monetarypolicy/rules_authorizations.htm. Return to text
[2021-01-27] B. The Selected Bank may manage such foreign currency holdings by:
[2021-01-27] The yield on 2-year nominal Treasury securities was little changed over the intermeeting period, while the 10-year yield rose notably. Most of the steepening of the Treasury yield curve occurred follo
[2021-01-27] As with overall economic activity, the pace of improvement in the labor market had slowed in recent months. Payroll employment fell in December, as continued job gains in many industries were outweigh
[2021-01-27] Randall A. Williams, Lead Information Manager, Division of Monetary Affairs, Board of Governors
[2021-01-27] Penelope A. Beattie, Section Chief, Office of the Secretary, Board of Governors
[2021-01-27] i. Generally directed at countering disorderly market conditions; or
[2021-01-27] C. The outstanding amount of the transactions described in paragraphs 1.A.ii and 2 shall not exceed $5 billion at any given time.
[2021-01-27] While generally acknowledging that the medium-term outlook for real GDP growth and employment had improved, participants continued to see the uncertainty surrounding that outlook as elevated. Particip
[2021-01-27] C. For standing foreign currency liquidity swap arrangements all drawings must be approved in advance by the Committee (or by the Subcommittee, if the Subcommittee believes that consultation with the
[2021-01-27] FOREIGN CURRENCY DIRECTIVE (As reaffirmed effective January 26, 2021)
[2021-01-27] "Effective January 28, 2021, the Federal Open Market Committee directs the Desk to:
[2021-01-27] 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
[2021-01-27] Bank of Canada Bank of England Bank of Japan European Central Bank Swiss National Bank
[2021-01-27] In their consideration of monetary policy at this meeting, participants reaffirmed the Federal Reserve's commitment to using its full range of tools to support the U.S. economy during this challenging
[2021-01-27] 12. The Committee authorizes the Chair, in exceptional circumstances where it would not be feasible to convene the Committee, to foster the Committee's objectives by instructing the Selected Bank to e
[2021-01-27] 6. Any other operations in foreign currencies for which governance is not otherwise specified in this Authorization (such as foreign exchange swap transactions with private‑sector counterparties) must
[2021-01-27] 7. The Committee authorizes the Selected Bank to hold foreign currencies for the System Open Market Account in accounts maintained at foreign central banks, the Bank for International Settlements, and
[2021-01-27] 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
[2021-01-27] 1. The Committee directs the Federal Reserve Bank selected by the Committee (the "Selected Bank") to execute open market transactions, for the System Open Market Account, in accordance with the provis
[2021-01-27] i. All arrangements are subject to annual review and approval by the Committee;
[2021-01-27] Matthew J. Eichner,2 Director, Division of Reserve Bank Operations and Payment Systems, Board of Governors; Michael S. Gibson, Director, Division of Supervision and Regulation, Board of Governors; And
[2021-01-27] A. To purchase and sell foreign currencies (also known as cable transfers) at home and abroad in the open market, including with the United States Treasury, with foreign monetary authorities, with the
[2021-01-27] Financing conditions in the residential mortgage market were little changed over the intermeeting period. Mortgage rates ticked up slightly but stayed near historically low levels, supporting strong l
[2021-01-27] The vote also encompassed approval of the statement below for release at 2:00 p.m.:
[2021-01-27] Minutes of the Federal Open Market Committee January 26-27, 2021 A joint meeting of the Federal Open Market Committee and the Board of Governors was held by videoconference on Tuesday, January 26, 202
[2021-01-27] The credit quality of nonfinancial corporations remained stable in recent months after deteriorating substantially for several months following the onset of the pandemic. The volume of nonfinancial co
[2021-01-27] Staff Review of the Financial Situation Investor sentiment improved and risk asset prices moved higher over the intermeeting period on greater prospects for additional fiscal stimulus. Domestic and fo
[2021-01-27] 4. The Committee authorizes the Selected Bank, with the prior approval of the Subcommittee and at the request of the United States Treasury, to conduct swap transactions with the United States Exchang
[2021-01-27] A. With the prior approval of the Committee, to enter into any needed agreement or understanding with the Secretary of the United States Treasury about the division of responsibility for foreign curre
[2021-01-27] The Federal Open Market Committee (FOMC) is firmly committed to fulfilling its statutory mandate from the Congress of promoting maximum employment, stable prices, and moderate long-term interest rates
[2021-01-27] A. The Selected Bank shall manage all holdings of foreign currencies for the System Open Market Account:
[2021-01-27] 9. The Committee authorizes the Selected Bank to undertake transactions of the type described in this Authorization, and foreign exchange and investment transactions that it may be otherwise authorize
[2021-01-27] Joshua Gallin, Special Adviser to the Chair, Division of Board Members, Board of Governors
[2021-01-27] 5. The Committee authorizes the Chair of the Committee, in fostering the Committee's objectives during any period between meetings of the Committee, to instruct the Selected Bank to act on behalf of t
[2021-01-27] The nominal U.S. international trade deficit widened further in November. Both imports and exports continued to rebound from their collapse in the first half of the year. Goods imports rose in Novembe
[2021-01-27] Annual Organizational Matters3 The agenda for this meeting reported that advices of the election of the following members and alternate members of the Federal Open Market Committee for a term beginnin
[2021-01-27] Ann E. Misback, Secretary, Office of the Secretary, Board of Governors
[2021-01-27] D. To exchange, at market prices, maturing Eligible Securities in the SOMA with an agency of the United States, in the case of Eligible Securities that are direct obligations of that agency or that ar
[2021-01-27] C. For purposes of this Authorization, the overall volume of standalone spot and forward transactions in foreign currencies is defined as the sum (disregarding signs) of the dollar values of individua
[2021-01-27] Against this backdrop, longer-term Treasury yields rose notably over the period. Longer-dated real yields were lifted by expectations for improved growth and increased Treasury issuance, but remained
[2021-01-27] Secretary's note: The Federal Reserve Bank of New York subsequently sent advice that the manager and deputy manager selections indicated previously were satisfactory.
[2021-01-27] ii. The Committee authorizes the Subcommittee to direct the Selected Bank in advance to execute the operation if it would result in the overall volume of standalone spot and forward transactions in fo
[2021-01-27] 1. The Federal Open Market Committee is referenced as the "FOMC" and the "Committee" in these minutes. Return to text
[2021-01-27] A. To buy or sell in the open market securities that are direct obligations of, or fully guaranteed as to principal and interest by, the United States, and securities that are direct obligations of, o
[2021-01-27] Brian J. Bonis, Assistant Director, Division of Monetary Affairs, Board of Governors
[2021-01-27] 3. The Committee directs the Selected Bank to maintain, for the System Open Market Account:
[2021-01-27] 3. For any operation that involves standalone spot or forward transactions in foreign currencies:
[2021-01-27] B. Any Federal Reserve Bank that maintains Customer Accounts, for any such Customer Account, when appropriate and subject to all other necessary authorization and approvals, to:
[2021-01-27] The path of the economy will depend significantly on the course of the virus, including progress on vaccinations. The ongoing public health crisis continues to weigh on economic activity, employment,
[2021-01-27] The COVID-19 pandemic is causing tremendous human and economic hardship across the United States and around the world. The pace of the recovery in economic activity and employment has moderated in rec
[2021-01-27] James Dolmas, Economic Policy Advisor and Senior Research Economist, Federal Reserve Bank of Dallas
[2021-01-27] Jennifer Gallagher, Special Assistant to the Board, Division of Board Members, Board of Governors
[2021-01-27] ii. As a temporary operation: on a same-day or deferred delivery basis, to purchase such Eligible Securities subject to an agreement to resell ("repo transactions") or to sell such Eligible Securities
[2021-01-27] i. The Committee must direct the Selected Bank in advance to execute the operation if it would result in the overall volume of standalone spot and forward transactions in foreign currencies, as define
[2021-01-27] Monetary policy actions tend to influence economic activity, employment, and prices with a lag. In setting monetary policy, the Committee seeks over time to mitigate shortfalls of employment from the