yusufizzetmurat/fed-pulse-embedding-caches huggingface dataset:
[2015-12-16] Consumer prices, as measured by the PCE index, were little changed, on net, in September and October, held down importantly by declines in energy prices; core PCE prices posted only small increases. O
[2015-12-16] Business activity was solid outside of sectors adversely affected by low energy prices and weak exports. A number of participants commented on the strength in the services sector in their Districts, c
[2015-12-16] James A. Clouse and Stephen A. Meyer, Deputy Directors, Division of Monetary Affairs, Board of Governors
[2015-12-16] Members agreed that a range of recent labor market indicators, including ongoing job gains and declining unemployment, showed further improvement and confirmed that underutilization of labor resources
[2015-12-16] "Effective December 17, 2015, 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 1/4 to 1/2 per
[2015-12-16] Voting for the FOMC monetary policy action were: Janet L. Yellen, Chair; William C. Dudley, Vice Chairman; Lael Brainard; Charles L. Evans; Stanley Fischer; Jeffrey M. Lacker; Dennis P. Lockhart; Jero
[2015-12-16] Most participants expected that the unemployment rate would edge below their estimates of its longer-run level in the coming year and then stabilize for a time, with the further strengthening of the l
[2015-12-16] Mark L. Mullinix, First Vice President, Federal Reserve Bank of Richmond
[2015-12-16] Patrick E. McCabe, Adviser, Division of Research and Statistics, Board of Governors
[2015-12-16] Total U.S. consumer prices, as measured by the PCE price index, rose only 1/4 percent over the 12 months ending in October, held down by large declines in consumer energy prices. Core PCE inflation, w
[2015-12-16] It was agreed that the next meeting of the Committee would be held on Tuesday-Wednesday, January 26-27, 2016. The meeting adjourned at 10:30 a.m. on December 16, 2015.
[2015-12-17] The Federal Reserve Board has approved action on Thursday by the Board of Directors of the Federal Reserve Bank of Minneapolis, increasing the discount rate (the primary credit rate) at the Bank from
[2016-01-01] prices of oil and other commodities are off their earlier lows and slightly above levels assumed by the bank in january, but remain well below historical averages.
[2016-01-01] and the recent firming in oil prices, if sustained, was anticipated to boost domestic energy production.
[2016-01-01] these members continued that, although a central bank consequently would face fluctuations in its profits in the short run, it would bring about seigniorage -- the profit generated by issuing banknote
[2016-01-01] Indeed, some members saw underlying inflation as relatively stable and put low odds on the possibility that prices now were accelerating.
[2016-01-01] the complex nature of the ongoing structural adjustment makes the outlook for demand and potential output highly uncertain.
[2016-01-01] consistent with this environment of heightened uncertainty, market intelligence suggested that some companies had paused or scaled back their investment plans.
[2016-01-01] beyond the near term, real gdp was expected to increase slightly faster than in the previous forecast, largely reflecting a somewhat higher projected trajectory for equity prices and lower assumed pat
[2016-01-01] despite the moderation in major trading partner growth in early 2016, members noted that there had been a further sizeable increase in commodity prices, particularly for iron ore, coking coal and oil.
[2016-01-01] Domestic respondents to the April SLOOS generally reported tightening their lending standards and experiencing weaker loan demand across all major CRE loan categories during the first quarter.
[2016-01-01] most participants were of the view that there was not yet enough evidence to indicate whether the balance of risks to the medium-term outlook had changed materially, but others judged that recent deve
[2016-01-01] Crude oil prices continued to rise, reaching record levels in nominal terms over the intermeeting period.
[2016-01-01] a few members expressed the view that pensioners and low-income households might be taking a cautious stance toward consumption.
[2016-01-01] most measures of core inflation remain close to 2 per cent but would be lower without the impact of past exchange rate depreciation.
[2016-01-01] recent monetary policy decisions by the governing council had improved broad financing conditions, which should support the outlook for consumption and investment.
[2016-01-01] but some other participants were uncertain that a period of tight labor utilization would yield lasting labor market benefits or were concerned that it risked a buildup of inflationary pressures.
[2016-01-01] in response to the staff's explanation, members concurred that it was appropriate to change the amount of each etf to be purchased, as proposed by the staff.
[2016-01-01] in both economies, activity in the march quarter had been driven by relatively strong growth in household consumption.
[2016-01-01] commenting further on the global risks discussed during the imf annual meetings in washington, reference was made to: a possibly stronger slowdown in emerging market economies, including china; the po
[2016-01-01] the ratio of net operating surplus to value added had increased further in the fourth quarter of 2015.
[2016-01-01] in most of the major markets, bond yields had remained close to historic lows.
[2016-01-01] the bank’s current base case projection shows the output gap closing later than was anticipated in october, around the end of 2017.
[2016-01-01] it was expected that domestic demand would continue to be the main factor driving growth in the euro area, while exports showed signs of less dynamism.
[2016-01-01] as for the outlook, they shared the view that emerging economies would move out of their deceleration phase, mainly due to the effects of the recovery in advanced economies and economic stimulus measu
[2016-01-01] overall, the risks to the profile for inflation are roughly balanced, although the implications of the brexit vote are highly uncertain and difficult to forecast.
[2016-01-01] Further out, TIPS-based inflation compensation 5 to 10 years ahead edged down slightly on net.
[2016-01-01] in the money market, interest rates on both overnight and term instruments had been decreasing with the negative interest rate coming into effect, and had been at around or slightly below 0 percent.
[2016-01-01] members noted that inflation had picked up in recent months; however, they also noted that inflation had continued to run below the committee's 2 percent longer-run objective, partly reflecting declin
[2016-01-01] as for the outlook, members concurred that overseas economies were likely to remain in a state of slight deceleration for the time being, but to moderately increase their growth rates as advanced econ
[2016-01-01] the 2% fall on the quarter had been largely driven by a sharp drop in extraction investment, a consequence of low oil prices.
[2016-01-01] primary issuance in the asset-backed securities (abs) market had also picked up, although not on the same scale as the cspp market.
[2016-01-01] meanwhile, mining output continued to contract as a result of further declines in drilling activity associated with low crude oil prices.
[2016-01-01] The Committee again anticipated that it likely would be appropriate to maintain the current target range for the federal funds rate for a considerable time after the asset purchase program ends, espec
[2016-01-01] measures of forward inflation compensation based on treasury inflation-protected securities and inflation swaps fell further.
[2016-01-01] conditions in consumer credit markets were little changed and generally remained accommodative.
[2016-01-01] there had been acknowledgement that achieving this target would require some additional support from fiscal and financial policy.
[2016-01-01] the japanese labour market remained very tight and unit labour costs growth had increased relative to long-term averages, yet both headline and core inflation in year-ended terms had fallen over the p
[2016-01-01] the mpc only expected to adjust the terms and length of the scheme should macroeconomic conditions warrant it, and would not make the scheme less generous during the initial 18 month drawdown window.
[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] all members agreed that the likely persistence of the headwinds restraining economic growth following the financial crisis meant that, when bank rate did begin to rise, it was expected to do so only g
[2016-01-01] gdp growth likely stalled in the fourth quarter of 2015, pulled down by temporary softness in the u.s. economy, weaker business investment and several other temporary factors.
[2016-01-01] the risks to the forecast for real gdp were seen as tilted to the downside, reflecting the staff's assessment that neither monetary nor fiscal policy was well positioned to help the economy withstand
[2016-01-01] pricing in domestic financial markets indicated that there was little chance of a reduction in the cash rate at the present meeting.
[2016-01-01] a sizeable expansion in the monthly volume of purchases was seen as substantially strengthening the effectiveness of the asset purchases, mainly by reinforcing the portfolio rebalancing channel.
[2016-01-01] in particular, reference was made to the past sequence of over-predictions in the inflation projections, which was seen as a downside risk to the baseline.
[2016-01-01] the global economy is expected to regain momentum in the second half of this year and through 2017 and 2018.
[2016-01-01] while business investment is still shrinking due to sizeable declines in the energy sector, it is expected to turn positive later this year.
[2016-01-01] the swift and effective implementation of structural reforms, in an environment of accommodative monetary policy, would not only lead to higher sustainable economic growth in the euro area but would a
[2016-01-01] nominal wage growth had stabilised at a low level, with compensation per employee standing at 1.3% in both the third and fourth quarters of 2015.
[2016-01-01] as the economy continues to adjust to the oil price shock, investment in the energy sector appears to be bottoming out.
[2016-01-01] there was thus broad agreement among members that a strong policy response was required, which was best achieved by a comprehensive package of measures that exploited the synergies and complementariti
[2016-01-01] summing up, mr praet noted that the information that had become available since the governing council’s meeting on 7-8 september confirmed an ongoing moderate but steady economic recovery in line with
[2016-01-01] as for the outlook, members shared the recognition that, due in part to the effects resulting from the set of economic measures, the tightening of labor market conditions was likely to continue, accom
[2016-01-01] while global economic growth was expected to pick up gradually, risks were assessed to remain on the downside, in part related to geopolitical developments.
[2016-01-01] Crude oil prices, though volatile, had not risen appreciably in recent months on balance, and a flattening in energy prices was beginning to damp headline inflation.
[2016-01-01] real personal consumption expenditures (pce) appeared to have increased at a slower rate in the fourth quarter than in the previous quarter.
[2016-01-01] economic activity in russia remained severe but had generally bottomed out, mainly due to a halt in the decline in commodity prices.
[2016-01-01] in this context, household spending continues to expand moderately.
[2016-01-01] with respect to the economic outlook and its implications for monetary policy, members continued to expect that, with gradual adjustments in the stance of monetary policy, economic activity would expa
[2016-01-01] although corporate bonds were typically issued by larger companies, any shift towards debt issuance would reduce their demand for bank the version of these minutes originally published erroneously sta
[2016-01-01] the incoming information on inflation over the intermeeting period showed that the earlier declines in energy prices and falling prices of non-energy imports were still contributing importantly to low
[2016-01-01] in particular, after a weak start to 2016 the us economy is showing signs of a rebound, with a healthy labour market and solid consumption growth.
[2016-01-01] al­though the unemployment rate was little changed in recent months, job gains had been solid, on average.
[2016-01-01] The Committee, based on its assessment at each meeting, has felt comfortable saying that, based on its assessment of those factors, it considers that it will be likely appropriate to maintain the curr
[2016-01-01] Demand-pull inflation pressures from emerging-market economies abroad appeared to be continuing, and anecdotal reports from business contacts suggested greater willingness domestically to pass rising
[2016-01-01] real personal consumption expenditures (pce) increased at a moderate pace in the third quarter, supported by continued gains in employment, real disposable personal income, and households' net worth.
[2016-01-01] The Committee will continue to pay close attention to the evolution of inflation and inflation expectations.
[2016-01-01] members shared the recognition that global financial markets remained volatile, as uncertainties surrounding overseas economies had increased against the backdrop of the united kingdom's vote to leave
[2016-01-01] a notable exception was japan, where the market was more than 15 per cent lower.
[2016-01-01] while overall conditions had eased relative to 2015, some indicators had strengthened over the previous few months.
[2016-01-01] spreads on yields of both investment-grade and high-yield nonfinancial corporate bonds over those on comparable-maturity treasury securities declined somewhat to levels fairly close to their historica
[2016-01-01] the impact on emerging market economies was evident first in terms of the pressure on their currencies, either prompting a downward trend in the case of floating currencies or creating downward pressu
[2016-01-01] employment had increased by 0.3%, quarter on quarter, in the first quarter of 2016, with positive growth across all major sectors and large euro area countries.
[2016-01-01] a snap survey by the institute of directors immediately following the referendum had found that a third of firms expected to cut investment, with half of these expecting the reductions to be “signific
[2016-01-01] I would say, in the area of commercial real estate, while valuations are high, we are seeing some tightening of lending standards and less debt growth associated with that rise in commercial real esta
[2016-01-01] the bank of japan's latest policy announcement included a facility to enhance access to us dollar swap lines, which reduced the cost of borrowing us dollars in exchange for yen.
[2016-01-01] members noted that these indicators were consistent with data and evidence from liaison suggesting that non-mining business investment had been growing in some parts of the economy that were less expo
[2016-01-01] an international comparison of uncertainty measures showed the united kingdom to be an outlier.
[2016-01-01] it was therefore seen as important to confirm the governing council’s commitment to the monthly asset purchases of €80 billion, which were intended to run until the end of march 2017, or beyond, if ne
[2016-01-01] although the recovery of the euro area economy was holding up well and financing conditions remained favourable overall, the external environment was characterised by heightened uncertainty about the
[2016-01-01] the bank projects above-potential growth from the second half of 2016, lifted by rising us demand and supported by accommodative monetary and financial conditions.
[2016-01-01] the april 2016 bank lending survey for the euro area pointed to improving loan supply conditions for enterprises and improving loan demand across all loan categories.
[2016-01-01] it was also argued that at the current juncture the risk of policy inaction clearly outweighed the risk of action.
[2016-01-01] first-quarter gdp growth appears to have been unexpectedly strong, but some of that strength is due to temporary factors and is likely to reverse in the second quarter.
[2016-01-01] these would moderate the extent to which annual cpi inflation was likely to rise over the coming months as a result of the earlier large declines in energy prices – in late-2014 and early-2015 – dropp
[2016-01-01] on january 22, the budget for fiscal 2016 had been submitted to the diet.
[2016-01-01] domestic cost pressures, including wage growth, had remained low and were expected to remain so for some time.
[2016-01-01] If inflation remains higher during the course of 2022, then we may already have met that test by the time we reach liftoff.
[2016-01-01] as for housing investment, the pick-up had paused since the middle of 2015 but resumed recently, underpinned by accommodative financial conditions.
[2016-01-01] household spending continues to rise, along with employment and incomes outside of energy-intensive regions.
[2016-01-01] however, given the potential costs to the economy of reversing the programme underway, they would not vote against the continuation of the programme.
[2016-01-01] announcements by foreign central banks garnered investor attention and contributed to somewhat higher asset price volatility later in the period.
[2016-01-01] with regard to the economic analysis, there was broad agreement among the members with the assessment of the outlook and risks for economic activity in the euro area, as provided by mr praet in his in
[2016-01-01] the rates of private-sector job openings and of hires increased over june and july, and the rate of quits was unchanged.
[2016-01-01] a recent increase in oil drilling rigs in operation was seen as a positive sign for business investment, al­though the continued low level of oil prices was still weighing on capital investment in the
[2016-01-01] however, for the two months combined, the deficit was considerably wider than its average rate for the second quarter.
[2016-01-01] however, the wpi measure including bonuses implied that private-sector wage growth had been little changed for the past two years.
[2016-01-01] the economy continues to create net new employment, especially in services, despite job losses in resource-intensive regions.
[2016-01-01] this member continued that negative wealth effects stemming from these developments could bring about a further decline in household consumption.
[2016-01-01] over the period ahead, new information should allow the board to assess whether the improvement in labour market conditions was continuing and whether the recent financial turbulence presaged weaker g
[2016-01-01] against this background, there was no need to change the monetary policy stance decided at the last monetary policy meeting, while it was important to focus on the implementation of policy measures.
[2016-01-01] however, the fiscal measures announced in the march federal budget will have a notable positive impact on gdp.
[2016-01-01] it was pointed out that, while output growth in some countries had exceeded expectations, the level of gdp in other countries was still very low relative to pre-crisis levels.
[2016-01-01] recent indicators suggested that dwelling investment had continued to grow strongly, particularly for higher-density dwellings.
[2016-01-01] in the light of the prevailing uncertainties, it was also seen as important to reiterate that the governing council was monitoring economic and financial market developments very closely and that it w
[2016-01-01] with regard to risks for the global economy, there was agreement among members that the impact of the outcome of the uk referendum on global financial markets had been contained following an initial b
[2016-01-01] as for interest rates on term instruments, yields on three-month treasury discount bills (t-bills) had moved further into negative territory and had been at around minus 0.4 percent recently.
[2016-01-01] while the unemployment rate had edged down a little further in previous months, broader measures of labour underutilisation had not declined.
[2016-01-01] Economic activity expanded in the second quarter, partly reflecting growth in consumer spending and exports.
[2016-01-01] the members said that it was exceptional for a central bank to commit itself to continuing with monetary easing until the year-on-year rate of increase in the observed cpi exceeded 2 percent, consider
[2016-01-01] members discussed the draft of the bank's view in the october 2016 outlook report (consisting of the bank's view and the background) and formed a majority view.
[2016-01-01] the same survey had revealed little expectation of any further extension to the other elements of the mpc’s august package over the next twelve months.
[2016-01-01] Foreign economic growth remained sluggish, restrained by weak activity in Europe and the associated spillovers--including through trade--to the rest of the world.
[2016-01-01] this was a precautionary step to provide additional flexibility in the bank’s provision of liquidity insurance, complementing banks’ ability to draw on their own liquidity buffers.
[2016-01-01] australian share prices declined in october to be little changed from the beginning of 2016.
[2016-01-01] nominal shipments of nondefense capital goods excluding aircraft decreased, on net, in february and march.
[2016-01-01] in the wake of brexit, global markets have materially re-priced a number of asset classes.
[2016-01-01] it was agreed that the next meeting of the committee would be held on tuesday-wednesday, april 26-27, 2016.
[2016-01-01] as all of these factors dissipate, the bank expects inflation will rise to about 2 per cent by early 2017.
[2016-01-01] The Committee also anticipates that inflation will settle, over coming quarters, at levels at or below those consistent with the Committee's dual mandate.
[2016-01-01] it was underlined that the projections were based on exceptionally supportive financing conditions, which to a large extent reflected the ecb’s accommodative monetary policy.
[2016-01-01] consumer spending will also get a boost from the canada child benefit.
[2016-01-01] these measures were projected to result in an expansion of the boe's balance sheet over 2017, although the boe's asset holdings as a share of gdp were projected to remain lower than those of the europ
[2016-01-01] concerns were nevertheless expressed that some of the downside risks to growth, as identified in the previous monetary policy meeting, in particular related to emerging market economies, had already p
[2016-01-01] the output of the mining sector increased since april after having trended down from late 2014.
[2016-01-01] with domestic spending strong, members were becoming more concerned that those developments might not exert enough restraint on aggregate demand to slow the expansion to a sustainable pace in line wit
[2016-01-01] some participants noted the importance of clearly communicating to the public the conditions that would warrant an increase in the policy rate.
[2016-01-01] the experience so far with the negative interest rate policy shows that a combination of the negative interest rate on current account balances at the bank and jgb purchases is effective for yield cur
[2016-01-01] higher global oil prices are helping to stabilize canada’s energy sector and household spending is expected to increase moderately.
[2016-01-01] a different member expressed the view that the main aim of the bank's policy already had shifted from the quantitative to the interest rate aspect, and thus it was important for the bank to conduct as
[2016-01-01] That’s probably related to gas prices and also just stock prices to some extent for other people.