yusufizzetmurat/fed-pulse-embedding-caches huggingface dataset:
[2000-01-01] In the absence of such a forward-looking response of long-term rates, short-term interest rates may have to move by more to achieve the same near-term impact on long-term interest rates and economic a
[2000-01-01] recent information continued to indicate that consumer price inflation had picked up, while producer price inflation was essentially unchanged.
[2000-01-01] During the five years before the crisis, core goods made a small negative contribution to inflation.
[2000-01-01] For asset purchases, the Committee declared that tapering would wait "until substantial further progress has been made toward the Committee's maximum employment and price stability goals.
[2000-01-01] more fundamentally, however, the income and wealth effects that were boosting household expenditures generally should help to sustain a perhaps somewhat diminished but still high level of homebuilding
[2000-01-01] at its meeting on august 22, 2000, the committee adopted a directive that called for maintaining conditions in reserve markets consistent with an unchanged federal funds rate of about 6-1/2 percent.
[2000-01-01] The growth of domestic nonfinancial debt slowed in October (latest data), reflecting a larger further paydown of federal debt and a reduced pace of private borrowing.
[2000-01-01] the preliminary survey balance for house prices produced by the royal institute of chartered surveyors (rics) had fallen, on the basis of a 90% sample, from +26 in may to single figures in june, havin
[2000-01-01] market-based measures of inflation compensation over the next five years, as well as over the five-year period beginning five years ahead, moved down further over the intermeeting period.
[2000-01-01] in the committee's discussion of current and prospective economic developments, members commented that recent statistical and anecdotal information provided clear indications of significant slowing in
[2000-01-01] in their discussion of the balance-of-risks sentence in the press statement to be issued shortly after this meeting, all the members agreed that the latter should continue to express, as it had for ev
[2000-01-01] over the medium term, higher oil prices would tend to restrain demand, if it took the oil producers longer to spend their additional revenue than it took those whose real incomes were squeezed to redu
[2000-01-01] but data for august showed a 7.9% increase in exports to the non-eu area.
[2000-01-01] a52 short-term interest rate expectations had fallen further since the previous meeting of the committee.
[2000-01-01] But I continue to believe that the underlying rate inflation in the U.S. economy is hovering close to our 2 percent longer-run objective and, thus, that the unwelcome surge in inflation this year, onc
[2000-01-01] but there had been very little change to the pattern of growth through the unusually large discrepancy between the output and expenditure measures of gdp in q1, seen in the earlier estimate, had been
[2000-01-01] Core inflation was then expected to edge down in 2009 as the impetus from prior increases in the prices of imports, energy, and other commodities abated and the margin of slack in resource use widened
[2000-01-01] at shorter maturities the fall in nominal forward rates had been attributed to a fall in inflation expectations.
[2000-01-01] The hurricanes were also expected to depress payroll employment in September, with a reversal over the next few months.
[2000-01-01] Core consumer price inflation continued to slow, and inflation expectations remained subdued over the closing months of 2003.
[2000-01-01] most other forecasters did not appear to assume a continuation of a downward trend in the stock-output ratio.
[2000-01-01] the rise in oil prices would put some upward pressure on uk inflation in the near term, relative to what had been assumed in preparing the may inflation report projections.
[2000-01-01] For equities, a stock's price-earnings ratio is a standard benchmark for assessing valuation.
[2000-01-01] With about $250 billion of these inflation-protected securities now outstanding, we can get readings along the entire maturity structure of real interest rates.
[2000-01-01] the housing market seemed to have slowed, which appeared consistent with slowing consumption growth.
[2000-01-01] The increase over the last few months in five-year measures of inflation compensation derived from Treasury nominal and inflation-indexed securities might be a warning sign that expectations were not
[2000-01-01] the average earnings index (aei) showed another fall in earnings growth, from 4.6% to 4.1% on the three-month headline basis, and from 4.0% in the year to may to 3.8% in the year to june.
[2000-01-01] overall consumer prices had been pushed up recently by sharp rises in energy prices.
[2000-01-01] this may have partly been explained by the unwinding of the effect on households’ m4 of scottish widows windfall payments.
[2000-01-01] Survey-based measures of longer-term inflation expectations remained stable,
[2000-01-01] With gross retail margins amounting to about 30 percent of sales, a reduction in currently elevated margins could make an important contribution to reduced inflation pressures in consumer goods.
[2000-01-01] And what is the risk that, in taking such steps, a central bank would be seen by investors as taking on partial responsibility for asset prices?
[2000-01-01] However, participants generally saw these downward pressures on inflation starting to abate next year, with widespread distribution of vaccines reducing social-distancing concerns and spurring economi
[2000-01-01] labor markets continued to be very tight, but there were few signs of any acceleration in labor costs.
[2000-01-01] In addition, at every policy meeting, each member of the MPC is operating with the same information from the staff, and before the quarterly meetings that precede an Inflation Report, the members have
[2000-01-01] Under pure monetary targeting, interest rates would fluctuate with shocks in spending.
[2000-01-01] a16 a fall in real forward interest rates derived from the yield curve had accounted for the fall in nominal forward rates at the long end.
[2000-01-01] the staff forecast prepared for this meeting continued to suggest that the expansion would gradually moderate from its currently elevated pace to a rate around, or perhaps a little below, the growth o
[2000-01-01] The gains in employment over July and August were generally seen as larger than anticipated.
[2000-01-01] persisting strength in manufacturing output was accompanied by brisk increases in mining activity and sizable declines in utilities services associated with cooler-than-normal temperatures.
[2000-01-01] Ultimately inflation is determined by the policy actions of the central bank.
[2000-01-01] However, reports from a couple of Districts indicated that the agricultural sector was still weak, with low commodity prices continuing to put financial pressure on farm-related businesses.
[2000-01-01] The slower growth of M2 followed strong expansion in August and September, however, and growth since midyear was at about the same pace as in the first half of the year.
[2000-01-01] Those indicators were mixed regarding the pace of economic activity within the manufacturing sector.
[2000-01-01] Core price inflation was projected to rise a little over the forecast horizon, in part as a result of higher import prices
[2000-01-01] m4 lending (excluding securitisations) had grown by £9.2 billion (0.9%) in december, and the twelve-month rate had risen to 9.0%, its highest since october the rapid growth had been broadly based: hou
[2000-01-01] however, rising german import prices in september and higher euro-area producer price inflation in august and september had pointed to inflationary pressures in the pipeline.
[2000-01-01] Although participants had revised downward their projections for growth since their previous forecasts in June, they continued to anticipate that economic growth would pick up and the unemployment rat
[2000-01-01] The staff also reduced slightly its forecast of growth next year
[2000-01-01] for example, there were tentative signs in some of the housing activity indicators that the market might be turning, although some of the recent weakening might be due to millennium effects.
[2000-01-01] the new statement maintains our definition that the longer-run goal for inflation is 2 percent, it elevates the importanceâ€”and the challengeâ€”of keeping inflation expectations well anchored at 2 pe
[2000-01-01] those participants who expected an increase in official interest rates had attached importance to the robustness of domestic demand and labour market indicators over the period since the mpc last incr
[2000-01-01] little of this strength had reflected borrowing by telecommunications companies, which appeared to have borrowed primarily through issuing securities in the market.
[2000-01-01] But even this relation--between the unemployment rate and the concept of economic slack--is not necessarily constant, and thus a given unemployment rate may not indicate the same level of slack at two
[2000-01-01] the members voted unanimously to adopt on a permanent basis, subject to the annual review required for all the committee's instruments, paragraph 1 (c) of the authorization for domestic open market op
[2000-01-01] It will be a while before we can be sure that a self-sustaining expansion is underway of sufficient strength and persistence to put the economy back on a path toward full employment.
[2000-01-01] in addition, economic activity appeared to have decelerated in many developing countries in the third quarter but remained solid in most of those nations.
[2000-01-01] Business Caution As I discussed earlier, regression analysis suggests that the robust growth in profits and the comparatively modest recovery in capital expenditures leaves a good part of the extraord
[2000-01-01] input prices excluding food, drink, tobacco and petroleum had risen by 0.7% in may, taking the annual rate of inflation to 4.0%, its highest since november 1995.
[2000-01-01] on the board members' return, chairman greenspan announced that the board had approved a ¼ percentage point increase in the discount rate to a level of 5-1/2 percent.
[2000-01-01] Pure bubbles--increases in asset prices that are 100 percent air--are, I suspect, rare.
[2000-01-01] the oil price had risen further since the committee’s previous meeting, and had touched $30 per barrel.
[2000-01-01] Put another way, the FOMC could have "preemptively" tightened monetary policy, based on forecasts, but recognizing the uncertainties about empirical relationships chose not to do so.
[2000-01-01] households’ and professional forecasters’ longer-term inflation expectations edged lower.
[2000-01-01] In addition, any other imbalances are more likely to grow to worrisome proportions during an unsustainable boom and are more likely to unwind in a disruptive manner if confronted by rising inflation,
[2000-01-01] In the modal outlook, monetary policy tightening to temper demand, in combination with improvements in supply, is expected to reduce demandâ€“supply imbalances and reduce inflation over time.10 The re
[2000-01-01] manufacturing, notably in high-tech industries, led the way, but growth in mining and utilities also was sizable.
[2000-01-01] In the absence of such offsetting operations, a decrease in currency demand would raise the amount of reserves and hence lower the federal funds rate.
[2000-01-01] continued to anticipate a moderate strengthening of the expansion in 2011 as well as a further pickup in economic growth in 2012.
[2000-01-01] In addition, coming to grips now with the outsized projected growth in entitlement spending in the early years of the next century could have a profound effect on current expectations of stability.
[2000-01-01] In addition, some of the correlation may reflect the effect of the response of monetary policy to exchange rate developments.
[2000-01-01] However, participants remarked that the actual rise in inflation was larger than anticipated, with the 12-month change in the PCE price index reaching 3.
[2000-01-01] overall, the committee concluded that the most likely outlook for investment was slightly weaker than in november, but with some members seeing upside risks.
[2000-01-01] data from the royal institute of chartered surveyors had shown a fall in the seasonally-adjusted net balance of estate agents reporting price rises in the three months to december.
[2000-01-01] the chartered institute of purchasing and supply’s manufacturing survey showed a rebound in manufacturing activity, with the balances for output, orders and export orders all rising.
[2000-01-01] a7 m3 in the euro area had remained buoyant in april, increasing by 6.5% on the year, while credit to the private sector had increased by 11.4%.
[2000-01-01] the very shortest maturities, and with the additional tightening and deceleration in inflation that is expected over coming quarters, the entire real curve will soon move into positive territory.
[2000-01-01] Though labor markets were expected to remain relatively tight for some time, the members saw little prospect that inflation would gather significant momentum in coming quarters.
[2000-01-01] Between the end of July and the FOMC's September meeting, we will get two employment and CPI reports with data for July and August.
[2000-01-01] a2 us industrial production had grown strongly during april, and consumer confidence in may had been strong.
[2000-01-01] For a variety of reasons, some emerging-market economies have resisted upward pressures on their exchange rates, even if that resistance requires buying large quantities of dollars to keep their curre
[2000-01-01] Prospects for ProductivityLet me close with some comments on the outlook for productivity.
[2000-01-01] a13 there had been little change in rpix inflation expectations derived from surveys for 2000.
[2000-01-01] In the labor market, about half of the 22 million jobs that were lost in the spring have been restored, and the unemployment rate has fallen since April by nearly 7 percentage points to 7.9 percent as
[2000-01-01] largely as a consequence of further increases in nominal labor compensation gains that would not be fully offset by growth in productivity.
[2000-01-01] The staff also reported that in the leveraged loan market risk spreads had narrowed and nonprice terms had loosened further.
[2000-01-01] The household saving rate, which had already risen considerably, would eventually level out and cease to hold back consumption growth.
[2000-01-01] at some point household spending on vehicles would recover, and hence the current growth rate might be erratically low.
[2000-01-01] And, by the end of this year, I support having the policy rate at a level above neutral so that it is reducing demand for products and labor, bringing it more in line with supply and thus helping rein
[2000-01-01] equity prices and bond yields had fallen, perhaps suggesting some faltering in expectations of a recovery in domestic demand.
[2000-01-01] Surveys indicated that households’ expectations of inflation over the next year were little changed in February
[2000-01-01] real consumption had risen by 0.2% in the month to may, but nominal retail sales had fallen by 0.3% – the second consecutive monthly fall.
[2000-01-01] The slowdown would reflect factors that were expected to damp the growth of overall business investment spending and a greater saturation of potential computer markets that might lead to more emphasis
[2000-01-01] Econometric methods were also refined to improve estimation and to accommodate more-complex dynamics in money demand equations.
[2000-01-01] manufacturing output growth had been 0.6% in q3, up from 0.4% in q2, while service sector growth had slowed to 0.7% from 0.9%.
[2000-01-01] inflation expectations derived from index-linked gilts had fallen slightly.
[2000-01-01] japanese workers’ household expenditure had increased by 3.9% in the year to february, boosted by the extra day in february 2000, but nonetheless pointed to higher private consumption in q1.
[2000-01-01] And the growth of telegraphy enabled railroads to better coordinate the movement of trains over a wider area.
[2000-01-01] Those participants saw substantial slack in resource utilization and hence continued to judge that inflation was likely to remain subdued over the medium term as the economy continued to recover.
[2000-01-01] headline public sector earnings growth had risen by 0.1 percentage points to 4.3%.
[2000-01-01] it was unclear how quickly, and to what extent, departmental underspends from earlier years would be reversed, which would slightly change the path of total spending within the budget envelope.
[2000-01-01] In the current decade, however, the standard deviation of inflation has been relatively stable in Brazil, at around 5 percent, and it has been declining in Mexico, where it is now around 2 percent.
[2000-01-01] the information reviewed at this meeting suggested that economic activity was expanding at a more moderate pace than in the first half of the year.
[2000-01-01] It was not only capital spending and equity prices that seemed to overshoot in the late 1990s; credit was provided with undue optimism about prospects for repayment.
[2000-01-01] But in our new century, the simple notion of price has turned decidedly ambiguous.
[2000-01-01] higher oil prices might depress consumer and investment spending.
[2000-01-01] but there were signs of improvement in corporate profitability, which could support investment.
[2000-01-01] Survey-based measures of longer-run inflation expectations were little changed, on balance, in recent months,
[2000-01-01] Although real growth was likely to be moderate in coming quarters, in his view it was unlikely to be slow enough to bring core inflation down.
[2000-01-01] german data had also shown strong industrial orders growth in recent months, especially in the external sector.
[2000-01-01] For all these conceptual uncertainties and measurement problems, a specific numerical inflation target would represent an unhelpful and false precision.
[2000-01-01] During the period examined, the rate of overall consumer inflation was 2.78 percent, as measured by the regular CPI-U for All Items.
[2000-01-01] Business spending on equipment and structures was anticipated to continue to outpace the overall expansion of the economy, though the differential would tend to narrow over time in association with th
[2000-02-02] The Federal Open Market Committee voted today to raise its target for the federal funds rate by 25 basis points to 5-3/4 percent. In a related action, the Board of Governors approved a 25 basis point
[2000-02-02] That's an income side thing and the simulations, I believe, are basically done on the product side.
[2000-02-02] Minutes of the Federal Open Market Committee February 1-2, 2000 A meeting of the Federal Open Market Committee was held in the offices of the Board of Governors of the Federal Reserve System in Washin
[2000-02-02] GSS factor decomposition for 2000-02-02: target=-2.00 bp, path=+9.00 bp
[2000-02-02] So a move of 25 basis points seems to me moderate and appropriate.
[2000-02-02] I don't know whether we are going to talk about that some more this morning or not.
[2000-02-02] If you do that in circumstances when you are uncertain about the supply side of the economy and you're experiencing favorable supply shocks, the outcomes are not bad.
[2000-03-21] Minutes of the Federal Open Market Committee March 21, 2000 A meeting of the Federal Open Market Committee was held in the offices of the Board of Governors of the Federal Reserve System in Washington
[2000-03-21] We have long-term rates going up more than before in the corporate market, in part because my sense was that we really had too much yield curve flattening before and more tightening will be needed in
[2000-03-21] The Federal Open Market Committee voted today to raise its target for the federal funds rate by 25 basis points to 6 percent. In a related action, the Board of Governors approved a 25 basis point incr
[2000-03-21] GSS factor decomposition for 2000-03-21: target=+2.50 bp, path=+2.30 bp
[2000-03-21] Slowing the economy to trend may, therefore, be just the first step.
[2000-03-21] In my view, what might be the decisive factor here is financial conditions and how accommodative or restrictive they turn out to be.
[2000-05-16] The Federal Open Market Committee voted today to raise its target for the federal funds rate by 50 basis points to 6-1/2 percent. In a related action, the Board of Governors approved a 50 basis point
[2000-05-16] My point has been that if we let our share of the primary market expand, we would be collapsing the market for the on-the-run issues in nominal terms.
[2000-05-16] So, we believe that we need to move rates up still further for a period in order to rein in this expansion somewhat and restore a balance between aggregate supply and demand.
[2000-05-16] GSS factor decomposition for 2000-05-16: target=+7.40 bp, path=+4.90 bp
[2000-05-16] Minutes of the Federal Open Market Committee May 16, 2000 A meeting of the Federal Open Market Committee was held in the offices of the Board of Governors of the Federal Reserve System in Washington,
[2000-06-28] The Federal Open Market Committee at its meeting today decided to maintain the existing stance of monetary policy, keeping its target for the federal funds rate at 6-1/2 percent. Recent data suggest t
[2000-06-28] GSS factor decomposition for 2000-06-28: target=-0.20 bp, path=-2.10 bp
[2000-06-28] Like our colleagues in Minneapolis, and I believe some from other Reserve Banks, we have been using a VAR model to try to gauge different inflation paths given different fed funds assumptions.
[2000-06-28] Minutes of the Federal Open Market Committee June 27-28, 2000 A meeting of the Federal Open Market Committee was held in the offices of the Board of Governors of the Federal Reserve System in Washingt
[2000-06-28] They need to know how much labor to supply to the markets and how to mix capital and labor in the production process in order to end up on the production possibility frontier.
[2000-08-22] GSS factor decomposition for 2000-08-22: target=+0.80 bp, path=+8.10 bp
[2000-08-22] The Federal Open Market Committee at its meeting today decided to maintain the existing stance of monetary policy, keeping its target for the federal funds rate at 6-1/2 percent. Recent data have indi
[2000-08-22] Minutes of the Federal Open Market Committee August 22, 2000 A meeting of the Federal Open Market Committee was held in the offices of the Board of Governors of the Federal Reserve System in Washingto
[2000-10-03] I will be referring to the package of charts with a peach cover.1 On the first page, as usual, is a chart depicting the forward rates.
[2000-10-03] GSS factor decomposition for 2000-10-03: target=+1.40 bp, path=+12.70 bp
[2000-10-03] The Federal Open Market Committee at its meeting today decided to maintain the existing stance of monetary policy, keeping its target for the federal funds rate at 6-1/2 percent. Recent data have indi
[2000-10-03] Minutes of the Federal Open Market Committee October 3, 2000 A meeting of the Federal Open Market Committee was held in the offices of the Board of Governors of the Federal Reserve System in Washingto
[2000-11-15] GSS factor decomposition for 2000-11-15: target=+2.70 bp, path=+2.20 bp
[2000-11-15] Minutes of the Federal Open Market Committee November 15, 2000 A meeting of the Federal Open Market Committee was held in the offices of the Board of Governors of the Federal Reserve System in Washing
[2000-11-15] The Federal Open Market Committee at its meeting today decided to maintain the existing stance of monetary policy, keeping its target for the federal funds rate at 6-1/2 percent. The utilization of th
[2000-12-19] GSS factor decomposition for 2000-12-19: target=+7.50 bp, path=-3.90 bp
[2000-12-19] Back in May when we raised it to 6-1/2 percent, some rates were above and some rates were below.
[2000-12-19] The Federal Open Market Committee at its meeting today decided to maintain the existing stance of monetary policy, keeping its target for the federal funds rate at 6-1/2 percent. The drag on demand an