yusufizzetmurat/fed-pulse-embedding-caches huggingface dataset:
[2019-10-30] Participants discussed developments in the manufacturing, energy, and agricultural sectors of the U.S. economy. Manufacturing production remained weak, and continuing concerns about global growth and
[2019-10-30] 1. The Federal Open Market Committee is referenced as the "FOMC" and the "Committee" in these minutes. Return to text
[2019-10-30] David H. Small, Project Manager, Division of Monetary Affairs, Board of Governors
[2019-10-30] Participants judged that conditions in the labor market remained strong, with the unemployment rate near historical lows and continued solid job gains, on average. In addition, some participants comme
[2019-10-30] In their consideration of the monetary policy options at this meeting, most participants believed that a reduction of 25 basis points in the target range for the federal funds rate would be appropriat
[2019-10-30] Valerie Hinojosa, Senior Information Manager, Division of Monetary Affairs, Board of Governors
[2019-10-30] Staff Economic Outlook The projection for U.S. real GDP growth prepared by the staff for the October FOMC meeting was revised down a little for the second half of this year relative to the previous pr
[2019-10-30] 3. Attended through the discussion of the review of options for repo operations to support control of the federal funds rate. Return to text
[2019-10-30] Financing conditions in consumer credit markets remained generally supportive of household spending, al­though conditions continued to be tight for credit card borrowers with nonprime credit scores. I
[2019-10-30] Industrial production declined in September and was notably lower than at the beginning of the year. Production in September was held down by the strike at General Motors, and automakers' schedules in
[2019-10-30] Incoming data suggested that growth in the foreign economies remained subpar in the third quarter. In several advanced foreign economies (AFEs), indicators showed continued weakness in the manufacturi
[2019-10-30] Minutes of the Federal Open Market Committee October 29-30, 2019 A joint meeting of the Federal Open Market Committee and the Board of Governors was held in the offices of the Board of Governors of th
[2019-10-30] Developments in Financial Markets and Open Market Operations The manager pro tem first reviewed developments in financial markets over the intermeeting period. Early in the period, market participants
[2019-10-30] Participants discussed longer-term issues that the Committee might want to study once the near-term plan was in place. In particular, many participants mentioned that the Committee may want to continu
[2019-10-30] Eric C. Engstrom, Senior Adviser, Division of Research and Statistics, and Deputy Associate Director, Division of Monetary Affairs, Board of Governors
[2019-10-30] Eric Belsky,2 Director, Division of Consumer and Community Affairs, Board of Governors; Matthew J. Eichner,3 Director, Division of Reserve Bank Operations and Payment Systems, Board of Governors; Andr
[2019-10-30] Financing conditions for nonfinancial businesses remained generally accommodative during the intermeeting period. Gross issuance of corporate bonds, which was strong in September, experienced a typica
[2019-10-30] 5. Attended through the discussion of developments in financial markets and open market operations. Return to text
[2019-10-31] The Federal Reserve Board has approved actions on Thursday by the Boards of Directors of the Federal Reserve Banks of Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis,
[2019-11-20] Minutes of the Federal Open Market Committee October 4 and October 29-30, 2019: HTML | PDF
[2019-11-20] The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on October 29-30, 2019 and of the conference call held on Octob
[2019-11-20] FOMC minutes can be viewed on the Board's website at http://www.federalreserve.gov/monetarypolicy/fomccalendars.htm
[2019-11-20] The minutes for each regularly scheduled meeting of the Committee ordinarily are made available three weeks after the day of the policy decision and subsequently are published in the Board’s Annual Re
[2019-11-26] The Federal Reserve Board on Tuesday released the minutes of its interest rate meetings from October 7 through October 30, 2019.
[2019-12-11] Elizabeth K. Kiser, Associate Director, Division of Research and Statistics, Board of Governors; Elizabeth Klee, Associate Director, Division of Financial Stability, Board of Governors; David López-Sa
[2019-12-11] Industrial production decreased in October and remained notably lower than at the beginning of the year. Production in October continued to be held down by the strike at General Motors, al­though the
[2019-12-11] The manager discussed two operational considerations around policy implementation. The first involved the risk that future Treasury bill purchases could have a larger effect on liquidity in the Treasu
[2019-12-11] Total nonfarm payroll employment surged in November, boosted in part by the return of auto workers who had previously been on strike in October. The average pace of job gains over the three months end
[2019-12-11] With regard to the postmeeting statement, members agreed to state that they judged that "the current stance of monetary policy is appropriate" to support the achievement of the Committee's policy obje
[2019-12-11] Information received since the Federal Open Market Committee met in October indicates that the labor market remains strong and that economic activity has been rising at a moderate rate. Job gains have
[2019-12-11] Participants judged that conditions in the labor market remained strong, with the unemployment rate at a 50-year low, job gains remaining solid, and some measures of labor force participation increasi
[2019-12-11] Regarding inflation, participants recognized that segments of the public generally do not regard the fact that aggregate inflation is running modestly below the Committee's 2 percent goal as a problem
[2019-12-11] PRESENT: Jerome H. Powell, Chair John C. Williams, Vice Chair Michelle W. Bowman Lael Brainard James Bullard Richard H. Clarida Charles L. Evans Esther L. George Randal K. Quarles Eric Rosengren
[2019-12-11] Real residential investment appeared to be increasing further after rising solidly in the third quarter. Both starts and building permit issuance for single-family homes increased in October, and star
[2019-12-11] At the conclusion of the discussion, the Committee voted to authorize and direct the Federal Reserve Bank of New York, until instructed otherwise, to execute transactions in the SOMA in accordance wit
[2019-12-11] Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee decided to maintain the target range for the federal funds rate at 1‑1/2 to 1
[2019-12-11] Voting for this action: Jerome H. Powell, John C. Williams, Michelle W. Bowman, Lael Brainard, James Bullard, Richard H. Clarida, Charles L. Evans, Esther L. George, Randal K. Quarles, and Eric S. Ros
[2019-12-11] Total real government purchases were increasing slowly in the fourth quarter. Nominal defense spending in October pointed to only a modest rise in real federal government purchases. Real purchases by
[2019-12-11] Financing conditions for nonfinancial businesses remained accommodative. Gross issuance of corporate bonds was robust, on average, in October and November. Gross issuance of institutional leveraged lo
[2019-12-11] Notation Vote By notation vote completed on November 19, 2019, the Committee unanimously approved the minutes of the Committee meeting held on October 29–30, 2019.
[2019-12-11] David H. Small, Project Manager, Division of Monetary Affairs, Board of Governors
[2019-12-11] The vote also encompassed approval of the statement below to be released at 2:00 p.m.:
[2019-12-11] Minutes of the Federal Open Market Committee December 10â11, 2019 A joint meeting of the Federal Open Market Committee and the Board of Governors was held in the offices of the Board of Governors of
[2019-12-11] By unanimous vote, the Committee ratified the Desk's domestic transactions over the intermeeting period. There were no intervention operations in foreign currencies for the System's account during the
[2019-12-11] Organizational Matters By unanimous vote, Lorie K. Logan was selected to serve at the pleasure of the Committee as manager, System Open Market Account, on the understanding that her selection was subj
[2019-12-11] Donielle A. Winford, Information Management Analyst, Division of Monetary Affairs, Board of Governors
[2019-12-11] Etienne Gagnon, Assistant Director, Division of Monetary Affairs, Board of Governors; Paul Lengermann, Assistant Director, Division of Research and Statistics, Board of Governors
[2019-12-11] In their discussion of inflation developments, participants noted that recent readings on overall and core PCE inflation, measured on a 12-month change basis, had continued to run below 2 percent. Sur
[2019-12-11] Jon Faust, Senior Special Adviser to the Chair, Office of Board Members, Board of Governors
[2019-12-11] David Altig, Michael Dotsey, Jeffrey Fuhrer,3 and Sylvain Leduc, Executive Vice Presidents, Federal Reserve Banks of Atlanta, Philadelphia, Boston, and San Francisco, respectively
[2019-12-11] Participants also discussed risks regarding the outlook for economic activity. While many saw the risks as tilted somewhat to the downside, some risks were seen to have eased over recent months. In pa
[2019-12-11] Secretary's note: Advice subsequently was received that the selection of Ms. Logan as manager was satisfactory to the Federal Reserve Bank of New York.
[2019-12-11] The Committee also directs the Desk to engage in dollar roll and coupon swap transactions as necessary to facilitate settlement of the Federal Reserve's agency mortgage-backed securities transactions.
[2019-12-11] With respect to the business sector, participants saw trade developments and concerns about the global economic growth outlook as the main factors contributing to weak business investment and exports.
[2019-12-11] Total consumer prices, as measured by the PCE price index, increased 1.3 percent over the 12 months ending in October. Core PCE price inflation (which excludes changes in consumer food and energy pric
[2019-12-11] The Committee directs the Desk to continue rolling over at auction all principal payments from the Federal Reserve's holdings of Treasury securities and to continue reinvesting all principal payments
[2019-12-11] 7. Attended the discussion of economic developments and the outlook. Return to text
[2019-12-11] As in U.S. markets, sentiment in foreign financial markets fluctuated in response to news on U.S.–China trade negotiations. Most foreign equity price indexes and long-term sovereign yields in Germany,
[2019-12-11] Antulio N. Bomfim and Robert J. Tetlow, Senior Advisers, Division of Monetary Affairs, Board of Governors
[2019-12-11] 2. The Committee appointed Lorie K. Logan to serve as the manager of the System Open Market Account at the conclusion of the meeting. Return to text
[2019-12-11] Karel Mertens,3 Senior Economic Policy Advisor, Federal Reserve Bank of Dallas
[2019-12-11] In determining the timing and size of future adjustments to the target range for the federal funds rate, the Committee will assess realized and expected economic conditions relative to its maximum emp
[2019-12-11] Brian M. Doyle, Wendy E. Dunn, Joseph W. Gruber, Ellen E. Meade, and Ivan Vidangos, Special Advisers to the Board, Office of Board Members, Board of Governors
[2019-12-11] The staff's forecast for total PCE price inflation in 2019 was revised down a bit, as a downward revision to core PCE prices in response to recent data was partly offset by an upward revision to consu
[2019-12-11] Nominal Treasury yields fluctuated over the intermeeting period but, on net, the Treasury curve was little changed. Measures of inflation compensation over the next 5 years and 5 to 10 years ahead bas
[2019-12-11] With respect to conditions around year-end, the manager noted that forward measures of market pricing continued to indicate expectations of temporary upward pressures on some secured rates. Money mark
[2019-12-11] Rochelle M. Edge, Eric M. Engen, Christopher J. Waller, William Wascher, Jonathan L. Willis, and Beth Anne Wilson, Associate Economists
[2019-12-11] With respect to the role of distributional considerations in the pursuit of the dual-mandate objectives, several participants noted that it was important for policymakers to be cognizant of how moneta
[2019-12-11] Patrick Harker, Robert S. Kaplan, Neel Kashkari, Loretta J. Mester, and Michael Strine, Alternate Members of the Federal Open Market Committee
[2019-12-11] The manager turned next to a review of money market developments since the October meeting, starting with an update on the implementation of the Committee's strategy to ensure ample reserves. Reserve
[2019-12-11] 6. Attended through the discussion of developments in financial markets and open market operations, and from the discussion of current monetary policy through the end of the meeting. Return to text
[2019-12-11] "Effective December 12, 2019, the Federal Open Market Committee directs the Desk to undertake open market operations as necessary to maintain the federal funds rate in a target range of 1-1/2 to 1-3/4
[2019-12-11] Financing conditions in consumer credit markets remained generally supportive of growth in consumer spending, al­though conditions continued to be tight for nonprime borrowers. Auto loans increased, c
[2019-12-11] Daniel Cooper, Senior Economist and Policy Advisor, Federal Reserve Bank of Boston
[2019-12-11] Thomas D. Tallarini, Jr., Assistant Vice President, Federal Reserve Bank of Minneapolis
[2019-12-11] In their consideration of monetary policy at this meeting, participants judged that it would be appropriate to maintain the target range for the federal funds rate at 1-1/2 to 1-3/4 percent to support
[2019-12-11] Participants' Views on Current Conditions and the Economic Outlook In conjunction with this FOMC meeting, members of the Board of Governors and Federal Reserve Bank presidents submitted their projecti
[2019-12-11] Review of Monetary Policy Strategy, Tools, and Communication Practices Participants continued to discuss issues related to the ongoing review of the Federal Reserve's monetary policy strategy, tools,
[2019-12-11] Federal Reserve communications over the intermeeting period were viewed as suggesting that additional near-term changes to the target range for the federal funds rate were less likely than had previou
[2019-12-11] Nils Goernemann,3 Senior Economist, Division of International Finance, Board of Governors
[2019-12-11] Participants generally saw the feedback from Fed Listens events as reinforcing the importance of sustaining the economic expansion so that the effects of a persistently strong job market reach more of
[2019-12-11] A number of participants agreed that maintaining the current stance of monetary policy would give the Committee some time to assess the full effects on the economy of its policy decisions and communic
[2019-12-11] Becky C. Bareford, First Vice President, Federal Reserve Bank of Richmond
[2019-12-11] The manager also noted that the Federal Reserve Bank of New York communicated to its customers that the remuneration rate on the foreign repo pool will be revised to be generally equivalent to the ove
[2019-12-11] Committee Policy Action In their discussion of monetary policy for this meeting, members noted that information received since the FOMC met in October indicated that the labor market remained strong a
[2019-12-11] Voting for the monetary policy action were Jerome H. Powell, Chair; John C. Williams, Vice Chair; Michelle W. Bowman; Lael Brainard; James Bullard; Richard H. Clarida; Charles L. Evans; Esther L. Geor
[2019-12-11] As reserves remain ample, the manager noted that it may become appropriate at some point to implement a technical adjustment to the IOER rate and the offered rate on overnight reverse repurchase (ON R
[2019-12-11] Todd E. Clark, Marc Giannoni,3 and Spencer Krane, Senior Vice Presidents, Federal Reserve Banks of Cleveland, Dallas, and Chicago, respectively
[2019-12-11] Glenn Follette, Patrick E. McCabe,5 and John M. Roberts, Deputy Associate Directors, Division of Research and Statistics, Board of Governors; Matteo Iacoviello and Andrea Raffo,6 Deputy Associate Dire
[2019-12-11] Trevor A. Reeve, Deputy Director, Division of Monetary Affairs, Board of Governors
[2019-12-11] Jonathan P. McCarthy, Alexander L. Wolman, and Patricia Zobel, Vice Presidents, Federal Reserve Banks of New York, Richmond, and New York, respectively
[2019-12-11] Staff Review of the Economic Situation The information available for the December 10–11 meeting indicated that labor market conditions remained strong and that real gross domestic product (GDP) was in
[2019-12-11] Real nonresidential private fixed investment remained weak overall after declining in the second and third quarters. Nominal shipments and new orders of nondefense capital goods excluding aircraft inc
[2019-12-11] Linda Robertson, Assistant to the Board, Office of Board Members, Board of Governors
[2019-12-11] Broad stock price indexes increased moderately over the intermeeting period amid movements largely attributed to trade-related developments and stronger-than-expected U.S. employment reports. Option-i
[2019-12-11] Julie Hotchkiss,3 Research Economist and Senior Advisor, Federal Reserve Bank of Atlanta
[2019-12-11] Members agreed to maintain the target range for the federal funds rate at 1-1/2 to 1-3/4 percent. Members judged that the current stance of monetary policy is appropriate to support sustained expansio
[2019-12-11] Michele Cavallo and Kurt F. Lewis, Principal Economists, Division of Monetary Affairs, Board of Governors; Laura J. Feiveson,3 Principal Economist, Division of Research and Statistics, Board of Govern
[2019-12-11] Real PCE continued to expand in October following a strong gain in the third quarter. Sales of light motor vehicles rose markedly in November. Key factors that influence consumer spending—including th
[2019-12-11] Members also agreed that, in determining the timing and size of future adjustments to the target range for the federal funds rate, the Committee would assess realized and expected economic conditions
[2019-12-11] The nominal U.S. international trade deficit narrowed in October. Exports fell a little, with declines in all export categories except for services and industrial supplies. Imports fell much more, and
[2019-12-11] The staff briefing also included an analysis of distributional considerations for monetary policy. Consistent with the feedback received at the Fed Listens events, the evidence reviewed by the staff s
[2019-12-11] 3. Attended through the discussion of the review of the monetary policy framework. Return to text
[2019-12-11] Participants agreed that the labor market had remained strong over the intermeeting period and that economic activity had risen at a moderate rate. Job gains had been solid, on average, in recent mont
[2019-12-11] As reserve levels increased, the distribution of reserves across bank types became comparable with where it was in early September. The federal funds rate and other overnight money market rates fell m
[2019-12-11] 4. Attended through the discussion of developments in financial markets and open market operations. Return to text
[2019-12-11] Consistent with the Committee's decision to leave the target range for the federal funds rate unchanged, the Board of Governors voted unanimously to leave the interest rates on required and excess res
[2019-12-11] Joshua Gallin, Special Adviser to the Chair, Office of Board Members, Board of Governors
[2019-12-11] In the commercial real estate (CRE) sector, financing conditions also remained generally accommodative. Commercial mortgage-backed securities (CMBS) spreads widened slightly over the intermeeting peri
[2019-12-11] Foreign economic growth slowed further in the third quarter amid continued weakness in the global manufacturing sector. Recent monthly indicators pointed to a stabilization in the pace of economic gro
[2019-12-11] The staff continued to view the uncertainty around its projections for real GDP growth, the unemployment rate, and inflation as generally similar to the average of the past 20 years. The staff viewed
[2019-12-11] It was agreed that the next meeting of the Committee would be held on Tuesday–Wednesday, January 28–29, 2020. The meeting adjourned at 10:00 a.m. on December 11, 2019.
[2019-12-11] Eric Belsky,3 Director, Division of Consumer and Community Affairs, Board of Governors; Matthew J. Eichner,4 Director, Division of Reserve Bank Operations and Payment Systems, Board of Governors; Mich
[2019-12-11] Ann E. Misback, Secretary, Office of the Secretary, Board of Governors
[2019-12-11] Regarding expectations for U.S. monetary policy, the Open Market Trading Desk's surveys and market-based indicators pointed to a very high perceived likelihood of no change in the target range for the
[2019-12-11] Developments in Financial Markets and Open Market Operations The System Open Market Account manager first reviewed developments in financial markets over the intermeeting period. Market prices appeare
[2019-12-11] Some participants spoke to some of the challenges associated with assessing the maximum level of employment. A few participants noted that aggregate statistics mask significant heterogeneity in labor
[2019-12-11] Eric C. Engstrom, Senior Adviser, Division of Research and Statistics, and Deputy Associate Director, Division of Monetary Affairs, Board of Governors
[2019-12-11] A joint meeting of the Federal Open Market Committee and the Board of Governors was held in the offices of the Board of Governors of the Federal Reserve System in Washington, D.C., on Tuesday, Decembe
[2019-12-11] Participants generally expected sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee's symmetric 2 percent objective as the most likely outcomes.
[2019-12-11] Scott Davis, Senior Research Economist and Advisor, Federal Reserve Bank of Dallas
[2019-12-11] Staff Review of the Financial Situation Investor sentiment fluctuated over the intermeeting period largely in response to ongoing trade negotiations between the United States and China. On net, equity
[2019-12-11] Thomas I. Barkin, Raphael W. Bostic, and Mary C. Daly, Presidents of the Federal Reserve Banks of Richmond, Atlanta, and San Francisco, respectively
[2019-12-11] A few participants raised the concern that keeping interest rates low over a long period might encourage excessive risk-taking, which could exacerbate imbalances in the financial sector. These partici
[2019-12-11] Various participants remarked on issues related to the implementation of monetary policy, highlighting topics for further discussion at future meetings. Among the topics mentioned were the potential r
[2019-12-11] Participants agreed that the Fed Listens outreach efforts had informed their understanding of the goals and tradeoffs associated with monetary policy and had provided highly useful input into their de
[2019-12-11] Participants agreed that their review of monetary policy strategy, tools, and communication practices would continue at future meetings and, as a result, that the Committee would not reaffirm its exis
[2019-12-11] James A. Clouse, Secretary Matthew M. Luecke, Deputy Secretary David W. Skidmore, Assistant Secretary Michelle A. Smith, Assistant Secretary Mark E. Van Der Weide, General Counsel Michael Held, Deputy
[2019-12-11] Financing conditions in the residential mortgage market remained accommodative over the intermeeting period. Mortgage rates were little changed since the October FOMC meeting. Consistent with this yea
[2019-12-11] In their discussion of the household sector, participants agreed that spending had increased at a strong pace. They generally expected that consumption spending would likely remain on a firm footing,