yusufizzetmurat/fed-pulse-embedding-caches huggingface dataset:
[2016-01-01] So for many, many years, we’ve been far from maximum employment and stable prices, and so the need for accommodative policy has been—has been clear.
[2016-01-01] data on investment growth were generally considered to remain weak.
[2016-01-01] however, economic activity continued to be depressed in areas affected by the downturn in the energy sector and falling agricultural commodity prices, al­though several participants noted that the rec
[2016-01-01] members noted the considerable uncertainty about the outcome of the vote and its potential economic and financial market consequences.
[2016-01-01] in making these judgments, most policymakers emphasized the primacy of maintaining monetary control in setting the appropriate capacity of the on rrp facility for the time being; participants indicate
[2016-01-01] a few members pointed out that the in business fixed investment for the january-march quarter of 2016, and that various surveys revealed that firms also planned to steadily increase fixed investment f
[2016-01-01] So it’s a serious economic problem for the United States, but it’s—it’s got underlying causes that are not related to monetary policy or to our response to the pandemic.
[2016-01-01] the temporary effects of exchange-rate pass-through and past declines in consumer energy prices are expected to dissipate in late 2016, and the bank projects that inflation will average close to 2 per
[2016-01-01] non-resource activity is growing solidly, particularly in the services sector.
[2016-01-01] the protracted process of reorientation towards non-resource activity is underway, helped by stronger u.s. demand, the lower canadian dollar, and accommodative monetary and financial conditions.
[2016-01-01] That transition itself could help bring inflation down, because, presumably, people would spend a little less on goods while they start spending more on travel and all sorts of travel services and thi
[2016-01-01] while the fundamental elements of the bank’s projection are similar to those presented in april, the forecast has been revised down in light of a weaker outlook for business investment and a lower pro
[2016-01-01] thereafter, it had depreciated, albeit with fluctuations, partly reflecting speculation about the direction of monetary policy in japan and the united states.
[2016-01-01] real gdp is expected to grow by 1.3 per cent in 2016, 2.2 per cent in 2017, and 2.1 per cent in 2018.
[2016-01-01] Indeed, some expressed the concern that, with the persistence of considerable resource slack, inflation might run below mandate-consistent levels for some time.
[2016-01-01] on this basis, they agreed that japan's economy continued its moderate recovery trend.
[2016-01-01] as for prices, members concurred that the year-on-year rate of change in the cpi (all items less fresh food) had been slightly negative and was likely to remain so or be about with regard to the basel
[2016-01-01] project completions were expected to support further growth in resource exports, particularly iron ore and liquefied natural gas (lng).
[2016-01-01] with regard to the working-style reform, the government would aim to compile a concrete action plan within the fiscal year.
[2016-01-01] money markets had continued to function smoothly, in spite of the increase in uncertainty as a result of the uk referendum.
[2016-01-01] data on global economic activity have generally been in line with the committee’s august inflation report projections, with growth in the united kingdom’s major trading partners expected to continue a
[2016-01-01] the government expected the bank to continue to thoroughly and actively explain the situation of its monetary policy management, including the proposals presented at this meeting.
[2016-01-01] financial conditions have improved, partly in response to expectations of more accommodative monetary policy in some major economies.
[2016-01-01] exports had picked up with the effects of the slowdown in emerging economies diminishing.
[2016-01-01] the decision by the bank of japan on 29 january 2016 to adopt a negative deposit rate structure had reverberated through global financial markets, contributing to a sharp decline in global bank shares
[2016-01-01] the dispersion of lending rates to borrowers domiciled in different jurisdictions had narrowed, remuneration of bank deposits had become much less diverse and, in most countries, nfcs were benefiting
[2016-01-01] indices of broad financial conditions covering movements in euro area government bond, stock and foreign exchange markets had tightened and euro area stock prices, in particular for financial sector e
[2016-01-01] with regard to developments in overseas economies by region, members concurred that the u.s. economy had been recovering, particularly in household spending, amid improvement in the employment and inc
[2016-01-01] this was supported by survey-based evidence on the distribution of inflation expectations.
[2016-01-01] turning to euro area activity, in the second quarter real gdp had increased by 0.3% quarter on quarter.
[2016-01-01] the dynamics of the global economy are broadly as anticipated in the bank’s october monetary policy report (mpr), with diverging economic prospects and shifting terms of trade.
[2016-01-01] on the other hand, services consumption such as dining-out and travel had been increasing firmly recently.
[2016-01-01] The Committee also noted that output had continued to expand at a solid pace, new hiring had appeared to pick up, and although incoming data on inflation showed that it had moved somewhat higher, long
[2016-01-01] global gdp growth is projected to be 2.9 per cent in 2016, 3.3 per cent in 2017, and 3.5 per cent in 2018.
[2016-01-01] real gdp grew by 2.4 per cent in the first quarter but is estimated to have contracted by 1 per cent in the second quarter, pulled down by volatile trade flows, uneven consumer spending, and the alber
[2016-01-01] non-resource exports are expected to strengthen, but their profile is weaker than previously projected, in part because of slower foreign demand growth and the higher canadian dollar.
[2016-01-01] while risks to the world outlook remain and have been reflected in sharp price movements in a range of asset classes, global growth is expected to trend upwards beginning in 2016.
[2016-01-01] meanwhile, the canadian dollar has firmed, reflecting shifting expectations for monetary policy in canada and the united states, as well as recent increases in commodity prices.
[2016-01-01] That sentiment was apparently reinforced over the remainder of the period by the comments of several Federal Reserve officials and the release of the August employment report, which seemed to convey t
[2016-01-01] I would further say that I think it’s important to emphasize that we’re not going to mechanically take the interest rate projections that participants provide and just build policy off of that.
[2016-01-01] in december the governing council would have the benefit of the latest incoming data, the new eurosystem staff macroeconomic projections extending through to 2019 and the results of the work of the eu
[2016-01-01] attention was also drawn to the evolution of inflation expectations, which had declined since the last meeting according to both the survey-based measures from the latest round of the spf and market-b
[2016-01-01] in the month of february, the participation rate had declined a little and the unemployment rate had fallen back to 5.8 per cent.
[2016-01-01] Inflation readings available since the April meeting continued to run below the Committee's longer-run objective, partly reflecting earlier declines in energy prices and continued decreases in prices
[2016-01-01] in the established housing market, the number of auctions had declined and remained lower than a year earlier, even though auction clearance rates had increased of late (particularly in sydney).
[2016-01-01] second, as for the long-term interest rate, it would purchase jgbs so that 10-year jgb yields would remain more or less at the current level of around 0 percent.
[2016-01-01] however, more recent indications pointed to a further decline in all three main revenue pillars, namely interest income, non-interest fee income and trading income.
[2016-01-01] however, because of elevated uncertainty, us business investment is on a lower track than expected.
[2016-01-01] a different member expressed the view that expectations for economic measures to be taken by the new administration had been reflected in, for example, the recent improvement in firms' and households'
[2016-01-01] the u.s. federal reserve has begun to gradually withdraw its exceptional monetary stimulus.
[2016-01-01] Indeed, the proposed reduction in the nominal federal funds rate would about offset the apparent increase in the real federal funds rate stemming from a recent decline in inflation.
[2016-01-01] At the conclusion of the discussion, the Committee voted to authorize and direct the Federal Reserve Bank of New York, until it was instructed otherwise, to execute transactions in the SOMA in accorda
[2016-01-01] in the short term, on the basis of current oil futures prices, headline inflation was expected to remain in negative territory for a number of months, before rising later in the year, linked to strong
[2016-01-01] according to the june eurosystem staff projections, hicp inflation was expected to rebound from 0.2% in 2016 to 1.3% in 2017 and 1.6% in 2018, broadly in line with recent forecasts from other internat
[2016-01-01] this is due in large part to slower near-term housing resale activity and a lower trajectory for exports.
[2016-01-01] one member said that firms' attitude toward fixed investment was likely to improve further as exports would start increasing, and this would enhance monetary easing effects on business fixed investmen
[2016-01-01] the latter confirmed that the moderate recovery in the euro area economy was ongoing, with only small downward revisions to the outlook for 2017 and 2018, which were related to external, rather than d
[2016-01-01] nonetheless, the bank expects deeper cuts to investment in canada’s energy sector than were forecast in january.
[2016-01-01] (1) the budget for fiscal 2017 was planned to be decided at the cabinet meeting to be held on december 22, 2016.
[2016-01-01] auction clearance rates and the number of auctions increased in may, but remained lower than a year earlier.
[2016-01-01] the bank expects canada’s real gdp to grow by 1.1 per cent in 2016 and about 2 per cent in both 2017 and 2018.
[2016-01-01] turning to developments in the household sector, members noted that growth in household consumption had increased in the september quarter to be close to its decade average in year-ended terms.
[2016-01-01] market-based measures of inflation compensation had moved up considerably over the intermeeting period.
[2016-01-01] marginally lower than in the survey for the third quarter, while expectations five years ahead remained unchanged at 1.8%.
[2016-01-01] the unemployment rate declined to 4.9 percent in january and remained at that level in february, while both the labor force participation rate and the employment-to-population ratio increased over the
[2016-01-01] surveys and information gathered from contacts in several districts indicated an improvement in manufacturing activity as well as expectations for further gains in factory production in the near term.
[2016-01-01] staff economic outlook in the economic projection prepared by the staff for the january fomc meeting, real gdp growth in the fourth quarter of last year was estimated to have been markedly slower than
[2016-01-01] The nominal deficit on U. S. trade in goods and services widened substantially in the second quarter.
[2016-01-01] the bank now expects the economy’s return to above-potential growth to be delayed until the second quarter of 2016.
[2016-01-01] activity in the housing market had also picked up: having risen by 18% through the course of 2015, mortgage approvals for house purchase had grown further in january 2016 to around 75,000.
[2016-01-01] remained below the Committee's 2 percent longer-run objective, partly reflecting earlier declines in energy prices and in prices of non-energy imports.
[2016-01-01] moreover, adequate policy action and measures needed to be put in place to address weak profitability and the remaining structural weaknesses in the euro area banking sector.
[2016-01-01] after incorporating these weaker elements, canada’s economy is still expected to grow at a rate above potential starting in the second half of 2016, supported by accommodative monetary and financial c
[2016-01-01] a substantial majority now viewed the near-term risks to the economic outlook as roughly balanced, with several of them indicating the risks from brexit had receded.
[2016-01-01] The nominal deficit on U. S. trade in goods and services narrowed somewhat in August from a high rate in July
[2016-01-01] most participants anticipated that economic growth would move up to a rate somewhat above its longer-run trend during the second half of 2016 and that the labor market would strengthen further.
[2016-01-01] moreover, past cuts in the rate had not only led to lower short-term interest rates, but had compressed interest rates across the spectrum of the yield curve also at the longer end.
[2016-01-01] the canadian economy’s complex structural adjustment to the oil price shock is ongoing and will dampen growth throughout the bank’s projection horizon.
[2016-01-01] the rate of increase for all items less fresh food and energy had registered 0.8 percent year-on-year for june.
[2016-01-01] employment had continued to grow more rapidly than the working-age population, and the unemployment rate was around its long-run average level.
[2016-01-01] That means that we can run at low levels of unemployment and have a historically good—in some dimensions—labor market without having to worry about inflation.
[2016-01-01] simultaneously, to keep the current 20% risk-sharing regime unchanged – in itself a key parameter of the programme – the ecb’s share of monthly pspp purchases would need to be increased from 8% to 10%
[2016-01-01] in particular, leverage and maturity transformation in the financial sector were subdued relative to historical levels, and growth of aggregate private nonfinancial-sector credit was modest.
[2016-01-01] they shared the view that the monetary base had increased significantly, reflecting the progress in asset purchases by the bank, and that firms' funding costs had been hovering at very low levels.
[2016-01-01] annual regular pay growth in the private sector had increased from around 1% in mid-2014 to over 3% in spring 2015, but had moderated to 2.3% in the latest data for the three months to october.
[2016-01-01] yet, underlying price pressures continued to lack a convincing upward trend and remained an ongoing source of concern.
[2016-01-01] in contrast, measures of year-ended headline and core inflation in the united states had picked up in recent months.
[2016-01-01] while the gross indebtedness of non-financial corporations (nfcs) in relation to their gross operating surplus had remained at a relatively high level, firms had increased their retained earnings and
[2016-01-01] they rebounded late in the period in response to the release of firmer economic data and growing concerns regarding the sustainability of current domestic asset prices.
[2016-01-01] Economic data releases were mixed, on balance, over the intermeeting period, but market participants were especially attentive to incoming information on the labor market--most notably, the private pa
[2016-01-01] At longer maturities, yields drifted lower over most of the intermeeting period in response to incoming data that suggested economic growth would remain moderate and inflation subdued,
[2016-01-01] both the bank of england and the european central bank (ecb) were expected to ease monetary policy further in the near future.
[2016-01-01] (2) at the council for the realization of work style reform, the prime minister had asked the industrial sector to (1) conduct wage increases of at least the same extent as those for 2016, (2) impleme
[2016-01-01] in such an environment, it was felt important for monetary policy to counter strongly any emergence of second-round effects in price and wage setting.
[2016-01-01] despite recent volatility, the bank expects the underlying trend of export growth to continue, leading to a pick-up in business investment.
[2016-01-01] Developments in foreign trade were moderating demands on domestic resources
[2016-01-01] committee members attached different weights to these candidate hypotheses, with some noting that it was possible that market participants had reappraised the economic outlook, downside risks and cent
[2016-01-01] That’s not going to happen without, without restoring price stability.
[2016-01-01] total cpi inflation remains near the bottom of the bank’s target range as the disinflationary effects of economic slack and low consumer energy prices are only partially offset by the inflationary imp
[2016-01-01] the committee noted that the estimated drag on average earnings growth from so-called compositional effects had fallen, to around ¼ percentage points in q4 from around ¾ percentage points in q3.
[2016-01-01] liaison suggested that retailers had been more cautious about the outlook of late, although trading conditions had remained generally positive, and surveys suggested that consumers' perceptions of the
[2016-01-01] Data received over the intermeeting period reinforced earlier indications that real GDP growth had turned up after having been slow in the first quarter of this year.
[2016-01-01] The ongoing public health crisis will weigh heavily on economic activity, employment, and inflation in the near term, and poses considerable risks to the economic outlook over the medium term.
[2016-01-01] business fixed investment was projected to continue to see a moderate increase for the time being on the back of the high level of corporate profits.
[2016-01-01] given the downward revision to the growth profile and the later closing of the output gap, the bank considers the risks around its updated inflation outlook to be roughly balanced, albeit in a context
[2016-01-01] So in terms of financial markets and monetary policy, we—as we say in our statement every cycle, we do take financial conditions into consideration because financial—broader financial conditions do af
[2016-01-01] however, the average effective federal funds rate was modestly higher than in the previous intermeeting period.
[2016-01-01] a few members expressed the view that -- although private consumption had been somewhat weak recently, due to the effects of irregularly warm weather -- it was likely to rise moderately, reflecting an
[2016-01-01] brent crude oil prices had risen markedly, to levels around usd 50 per barrel, since the april meeting.
[2016-01-01] Credit conditions in the commercial real estate (CRE) sector continued to ease, and growth in CRE loans at banks stayed solid.
[2016-01-01] in aggregate, the outlook was for growth in australia's major trading partners to remain a little below average, as previously forecast.
[2016-01-01] as regards prices, there were signs that pressures were beginning to build after a long period of subdued inflation: core inflation on both the cpi and pce measures had picked up quickly in recent mon
[2016-01-01] Inflation rose further in most foreign economies, reflecting a reversal of price declines seen in the spring of 2020, higher energy and commodity prices, and supply bottlenecks.
[2016-01-06] 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
[2016-01-06] Minutes of the Federal Open Market Committee December 15-16, 2015: HTML | PDF
[2016-01-06] 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, 2015. A summary of economic projections made
[2016-01-06] FOMC minutes can be viewed on the Board's website at http://www.federalreserve.gov/monetarypolicy/fomccalendars.htm
[2016-01-12] The Federal Reserve Board on Tuesday released the minutes of its interest rate meetings from November 23 through December 16, 2015.
[2016-01-27] Eric Rosengren, President of the Federal Reserve Bank of Boston, with Patrick Harker, President of the Federal Reserve Bank of Philadelphia, as alternate
[2016-01-27] The Committee then resumed its consideration of matters related to the System's reverse repurchase agreement (RRP) facilities, focusing in particular on the appropriate aggregate capacity of the ON RR
[2016-01-27] By unanimous vote, the following officers of the Committee were selected to serve until the selection of their successors at the first regularly scheduled meeting of the Committee in 2017:
[2016-01-27] A. To purchase and sell the following foreign currencies in the form of cable transfers through spot or forward transactions on the open market at home and abroad, including transactions with the U.S.
[2016-01-27] Total U.S. consumer prices, as measured by the PCE price index, increased about 1/2 percent over the 12 months ending in November, partly restrained by substantial declines in consumer energy prices.
[2016-01-27] iii. Subject to reasonable limitations on the total amount of a specific issue of Eligible Securities that may be auctioned; and
[2016-01-27] Recent information on housing activity was consistent with a continued gradual recovery in this sector. Both starts and building permits for new single-family homes moved higher, on balance, in Novemb
[2016-01-27] B. To allow Eligible Securities in the SOMA to mature without replacement;
[2016-01-27] Downward pressure on domestic energy activity intensified over the intermeeting period as oil prices dropped further. The imbalance of the supply of crude oil relative to demand remained very high and
[2016-01-27] As expected, inflation had continued to run below 2 percent, but the further decline in energy prices and the additional appreciation of the dollar likely implied that inflation would take somewhat lo
[2016-01-27] A. The Selected Bank, for the SOMA, to undertake reverse repo transactions in Eligible Securities held in the SOMA with the Customer Accounts for a term of 65 business days or less; and
[2016-01-27] After assessing the outlook for economic activity, the labor market, and inflation, and after weighing the uncertainties associated with the outlook, members agreed to leave the target range for the f
[2016-01-27] 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
[2016-01-27] 5. Foreign currency holdings shall be invested to ensure that adequate liquidity is maintained to meet anticipated needs and so that each currency portfolio shall generally have an average duration of
[2016-01-27] Michael T. Kiley, Senior Adviser, Division of Research and Statistics, and Senior Associate Director, Office of Financial Stability Policy and Research, Board of Governors
[2016-01-27] Potential Enhancements to the Summary of Economic Projections Next, participants considered a proposal by the subcommittee on communications to add to the SEP several charts that would illustrate the
[2016-01-27] C. In a manner consistent with the obligations of the United States in the International Monetary Fund regarding exchange arrangements under IMF Article IV.
[2016-01-27] A. Drawings must be approved by the Subcommittee (or by the Chairman, if the Chairman believes that consultation with the Subcommittee is not feasible in the time available) if the swap drawing propos
[2016-01-27] 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
[2016-01-27] Notation Vote By notation vote completed on January 5, 2016, the Committee unanimously approved the minutes of the Committee meeting held on December 16-17, 2015.