yusufizzetmurat/fed-pulse-embedding-caches huggingface dataset:
[2020-06-29] By standing ready to provide credit to qualifying issuers of corporate bonds in periods of stress, the PMCCF serves as a funding backstop, supporting market liquidity and the availability of credit fo
[2020-06-29] FAQs: Primary Market Corporate Credit Facility and Secondary Market Corporate Credit Facility
[2020-06-29] The Federal Reserve Board on Monday released a new term sheet for the Primary Market Corporate Credit Facility, adding pricing and other information. As detailed in an FAQ released today, pricing will
[2020-07-01] 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
[2020-07-01] Minutes of the Federal Open Market Committee June 9-10, 2020: HTML | PDF
[2020-07-01] FOMC minutes can be viewed on the Board's website at http://www.federalreserve.gov/monetarypolicy/fomccalendars.htm
[2020-07-01] The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on June 9–10, 2020. A summary of economic projections made by F
[2020-07-02] The Federal Open Market Committee on Thursday announced its tentative meeting schedule for 2021:
[2020-07-07] The Federal Reserve Board on Tuesday released the minutes of its interest rate meetings from May 18 through June 10, 2020.
[2020-07-17] The Main Street nonprofit loan terms generally mirror those for Main Street for-profit business loans, including the interest rate, principal and interest payment deferral, five-year term, and minimum
[2020-07-17] "Nonprofits provide vital services across the country and employ millions of Americans," Federal Reserve Chair Jerome H. Powell said. "We have listened carefully and adapted our approach so that we ca
[2020-07-17] Updated Term Sheet: Nonprofit Organization Expanded Loan Facility
[2020-07-17] Based on public feedback to proposals released for comment on June 15, the minimum employment threshold for nonprofits was lowered from 50 employees to 10, the limit on donation-based funding was ease
[2020-07-17] The Federal Reserve Board on Friday modified the Main Street Lending Program to provide greater access to credit for nonprofit organizations such as educational institutions, hospitals, and social ser
[2020-07-17] The Main Street Lending Program was established with the approval of the Treasury Secretary and with $75 billion in equity provided by the Treasury Department from the CARES Act.
[2020-07-23] The Federal Reserve Board on Thursday broadened the set of firms eligible to transact with and provide services in three emergency lending facilities. Encouraging a broader range of agents for the Ter
[2020-07-23] The TALF, CPFF, and SMCCF are facilities created under section 13(3) of the Federal Reserve Act, established with the approval of the Treasury Secretary and with equity investments provided by the Tre
[2020-07-28] Updated Term Sheet: Paycheck Protection Program Liquidity Facility
[2020-07-28] The Board's lending facilities have provided a critical backstop, stabilizing and substantially improving market functioning and enhancing the flow of credit to households, businesses, and state and l
[2020-07-28] The extensions apply to the Primary Dealer Credit Facility, the Money Market Mutual Fund Liquidity Facility, the Primary Market Corporate Credit Facility, the Secondary Market Corporate Credit Facilit
[2020-07-28] The Federal Reserve Board on Tuesday announced an extension through December 31 of its lending facilities that were scheduled to expire on or around September 30. The three-month extension will facili
[2020-07-28] Updated Term Sheet: Nonprofit Organization Expanded Loan Facility
[2020-07-29] Jon Faust, Senior Special Adviser to the Chair, Division of Board Members, Board of Governors
[2020-07-29] Linda Robertson, Assistant to the Board, Division of Board Members, Board of Governors
[2020-07-29] Eric M. Engen and David E. Lebow, Senior Associate Directors, Division of Research and Statistics, Board of Governors; Gretchen C. Weinbach, Senior Associate Director, Division of Monetary Affairs, Bo
[2020-07-29] Staff Review of the Financial Situation Amid sizable fluctuations, changes in asset prices over the intermeeting period were mixed on net. Financial market sentiment was boosted by better-than-expecte
[2020-07-29] The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. The coronavi
[2020-07-29] David Altig, Kartik B. Athreya, Joseph W. Gruber, Daleep Singh, and Christopher J. Waller, Executive Vice Presidents, Federal Reserve Banks of Atlanta, Richmond, Kansas City, New York, and St. Louis,
[2020-07-29] In contrast to the sizable rebound in consumer spending, participants saw less improvement in the business sector in recent months, and they noted that their District business contacts continued to re
[2020-07-29] Staff Economic Outlook In the U.S. economic projection prepared by the staff for the July FOMC meeting, the estimated level of real GDP in the second quarter was marked up compared with the June meeti
[2020-07-29] 5. Attended the discussion of economic developments and the outlook. Return to text
[2020-07-29] By unanimous vote, the Committee voted to approve a resolution that extended through March 31, 2021, the expiration of a temporary repo facility for foreign and international monetary authorities (FIM
[2020-07-29] Participants' Views on Current Conditions and the Economic Outlook Participants noted that the coronavirus pandemic was causing tremendous human and economic hardship across the United States and arou
[2020-07-29] Over the intermeeting period, yields on nominal Treasury securities fell and the yield curve flattened on net. Yields declined somewhat at the start of the intermeeting period following the more-accom
[2020-07-29] Thomas I. Barkin, Raphael W. Bostic, Mary C. Daly, Charles L. Evans, and Michael Strine, Alternate Members of the Federal Open Market Committee
[2020-07-29] Review of Monetary Policy Strategy, Tools, and Communication Practices Participants continued their discussion related to the ongoing review of the Federal Reserve's monetary policy strategy, tools, a
[2020-07-29] The staff provided an update on its assessment of the stability of the financial system, and, on balance, characterized the financial vulnerabilities of the U.S. financial system as notable, while not
[2020-07-29] Credit quality of nonfinancial corporations deteriorated further over the intermeeting period, with a sizable volume of speculative-grade debt downgraded in June. Defaults in May reached their highest
[2020-07-29] In their consideration of monetary policy at this meeting, participants reaffirmed their commitment to using the Federal Reserve's full range of tools to support the U.S. economy during this challengi
[2020-07-29] A number of participants commented on various potential risks to financial stability. Banks and other financial institutions could come under significant stress, particularly if one of the more advers
[2020-07-29] 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
[2020-07-29] The effective federal funds rate (EFFR) and Secured Overnight Financing Rate (SOFR) increased, on average, 4 basis points and 5 basis points, respectively, from the previous intermeeting period. The E
[2020-07-29] Shaghil Ahmed,2 Michael Dotsey, Beverly Hirtle, Trevor A. Reeve, Ellis W. Tallman, William Wascher, and Mark L.J. Wright, Associate Economists
[2020-07-29] Participants discussed the current stance of monetary policy and the circumstances under which they might increase monetary policy accommodation or clarify their intentions regarding policy. Participa
[2020-07-29] Members stated that the path of the economy would depend significantly on the course of the virus. In addition, members agreed that the ongoing public health crisis would weigh heavily on economic act
[2020-07-29] 1. The Federal Open Market Committee is referenced as the "FOMC" and the "Committee" in these minutes. Return to text
[2020-07-29] "The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals.
[2020-07-29] David H. Small, Project Manager, Division of Monetary Affairs, Board of Governors
[2020-07-29] Capital market financing conditions for nonfinancial firms eased somewhat further over the intermeeting period, with yields on corporate bonds remaining near historical lows. Investment-grade corporat
[2020-07-29] In light of improved conditions across these markets, the Federal Reserve's balance sheet declined over the intermeeting period from $7.2 trillion to $7.0 trillion. The decline was driven by the reduc
[2020-07-29] Brett Berger,6 Adviser, Division of International Finance, Board of Governors
[2020-07-29] David López-Salido,3 Associate Director, Division of Monetary Affairs, Board of Governors; Paul R. Wood, Associate Director, Division of International Finance, Board of Governors
[2020-07-29] Several participants also commented on ongoing challenges facing the energy or farm sector despite recent improvements. In the energy sector, these challenges included still-low oil demand, excess inv
[2020-07-29] The market-implied path of the federal funds rate shifted down modestly over the intermeeting period. The corresponding path implied by responses to the Open Market Desk's Survey of Primary Dealers an
[2020-07-29] Real PCE rebounded robustly in May, with particularly strong growth in spending for consumer goods but more moderate gains in expenditures for consumer services. In June, the components of retail sale
[2020-07-29] Michael Schetzel,6 Senior Vice President, Federal Reserve Bank of New York
[2020-07-29] Total real government purchases appeared to have increased moderately, on balance, in the second quarter. Federal defense spending continued to rise through June, and nondefense purchases were likely
[2020-07-29] 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
[2020-07-29] The staff continued to observe that the uncertainty related to the economic effects of the pandemic was extremely elevated and that the unusual nature of the pandemic-related shock made assessments ab
[2020-07-29] Participants observed that uncertainty surrounding the economic outlook remained very elevated, with the path of the economy highly dependent on the course of the virus and the public sector's respons
[2020-07-29] Conditions in short-term funding markets were generally stable over the intermeeting period. Spreads for negotiable certificates of deposit and most types of commercial paper were little changed, on n
[2020-07-29] The manager discussed a proposal to extend the temporary U.S. dollar liquidity swap arrangements as well as the temporary FIMA (Foreign and International Monetary Authorities) Repo Facility through Ma
[2020-07-29] Broad stock price indexes fluctuated substantially, largely in reaction to news about the pandemic and economic activity, and ended the intermeeting period roughly unchanged. Technology stocks continu
[2020-07-29] Eric C. Engstrom and Christopher J. Gust,3 Deputy Associate Directors, Division of Monetary Affairs, Board of Governors; Luca Guerrieri, Deputy Associate Director, Division of Financial Stability, Boa
[2020-07-29] 4. Attended through the discussion of developments in financial markets and open market operations. Return to text
[2020-07-29] The Committee will continue to monitor the implications of incoming information for the economic outlook, including information related to public health, as well as global developments and muted infla
[2020-07-29] Minutes of the Federal Open Market Committee July 28-29, 2020 A joint meeting of the Federal Open Market Committee and the Board of Governors was held by videoconference on Tuesday, July 28, 2020, at
[2020-07-29] Incoming data suggested that foreign economic activity plunged in the second quarter as a result of the coronavirus pandemic and the measures undertaken to contain it. There were also signs that many
[2020-07-29] Robert Lerman,6 Assistant Vice President, Federal Reserve Bank of New York
[2020-07-29] Randall A. Williams, Senior Information Manager, Division of Monetary Affairs, Board of Governors
[2020-07-29] William F. Bassett, Antulio N. Bomfim, Wendy E. Dunn, Ellen E. Meade, Chiara Scotti, and Ivan Vidangos, Special Advisers to the Board, Division of Board Members, Board of Governors
[2020-07-29] Indicators of business fixed investment suggested that investment had generally not begun to recover but that the pace of declines had moderated, on balance, in recent months. Nominal new orders and s
[2020-07-29] Financing conditions for consumer credit tightened a bit further during the intermeeting period. In the credit card market, lending standards at commercial banks tightened further according to the Jul
[2020-07-29] Housing-sector activity bounced back strongly in recent months, likely boosted in part by the effects of low interest rates. Starts and building permit issuance for single-family homes, along with sta
[2020-07-29] 2. Attended through the discussion of economic developments and the outlook, and all of Wednesday's session. Return to text
[2020-07-29] The nominal U.S. international trade deficit widened in May relative to April, as exports decreased more than imports. The fall in exports was broad based across goods categories, while lower imports
[2020-07-29] The vote also encompassed approval of the statement below for release at 2:00 p.m.:
[2020-07-29] To support the flow of credit to households and businesses, over coming months the Federal Reserve will increase its holdings of Treasury securities and agency residential and commercial mortgage-back
[2020-07-29] Ann E. Misback, Secretary, Office of the Secretary, Board of Governors
[2020-07-29] Mark Spiegel, Senior Policy Advisor, Federal Reserve Bank of San Francisco
[2020-07-29] Marcelo Ochoa, Senior Economist, Division of Monetary Affairs, Board of Governors
[2020-07-29] Karel Mertens, Senior Economic Policy Advisor, Federal Reserve Bank of Dallas
[2020-07-29] While the S&P 500 index was little changed, the effect of renewed outbreaks was evident in the differentiated performance across S&P industry sectors. Virus-sensitive sectors and firms with weaker fun
[2020-07-29] Developments in Financial Markets and Open Market Operations The System Open Market Account (SOMA) manager turned first to a review of U.S. financial market developments. Over the intermeeting period,
[2020-07-29] Regarding the labor market, many participants commented that the pace of employment gains, which was quite strong in May and June, had likely slowed. The increasing number of virus cases in many parts
[2020-07-29] The path of the economy will depend significantly on the course of the virus. The ongoing public health crisis will weigh heavily on economic activity, employment, and inflation in the near term, and
[2020-07-29] With regard to the outlook for monetary policy beyond this meeting, a number of participants noted that providing greater clarity regarding the likely path of the target range for the federal funds ra
[2020-07-29] Conditions in short-term dollar funding markets were also stable, with overnight rates close to the interest on excess reserves (IOER) rate. In broader dollar funding markets, term unsecured rates and
[2020-07-29] "Effective July 30, 2020, the Federal Open Market Committee directs the Desk to:
[2020-07-29] Voting for this action: Jerome H. Powell, John C. Williams, Michelle W. Bowman, Lael Brainard, Richard H. Clarida, Patrick Harker, Robert S. Kaplan, Neel Kashkari, Loretta J. Mester, and Randal K. Qua
[2020-07-29] Industrial production expanded briskly in May and June, as many factories reopened or ramped up production. The surge in manufacturing production was led by appreciable gains in the output of motor ve
[2020-07-29] In their comments about inflation, participants generally judged that the negative effect of the pandemic on aggregate demand was more than offsetting upward pressures on some prices stemming from sup
[2020-07-29] In the July Senior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS), banks reported a notable tightening of lending standards on commercial and industrial (C&I) loans to firms of all size
[2020-07-29] Participants noted that the rebound in consumer spending from its trough in April had been particularly strong. Resumption in economic activity, as well as payments to households under the Coronavirus
[2020-07-29] 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
[2020-07-29] Financing conditions for small businesses remained tight. Banks reported in the July SLOOS that the level of standards for small businesses was at the tighter end of the range since 2005. At the same
[2020-07-29] It was agreed that the next meeting of the Committee would be held on Tuesday–Wednesday, September 15–‍16, 2020. The meeting adjourned at 10:55 a.m. on July 29, 2020.
[2020-07-29] To support the flow of credit to households and businesses, members agreed that over coming months it would be appropriate for the Federal Reserve to increase its holdings of Treasury securities and a
[2020-07-29] James A. Clouse, Secretary Matthew M. Luecke, Deputy Secretary Michelle A. Smith, Assistant Secretary Mark E. Van Der Weide, General Counsel Michael Held, Deputy General Counsel Stacey Tevlin, Economi
[2020-07-29] James Bullard, Esther L. George, and Eric Rosengren, Presidents of the Federal Reserve Banks of St. Louis, Kansas City, and Boston, respectively
[2020-07-29] Participants observed that many measures of financial market functioning were indicating that improvements achieved since the extreme turbulence in March had been sustained. Actions by the Federal Res
[2020-07-29] Financing conditions for commercial real estate (CRE), particularly those in capital markets, recovered further over the intermeeting period. Spreads on non-agency commercial mortgage-backed securitie
[2020-07-29] Risk sentiment abroad fluctuated over the intermeeting period as market participants weighed increasing coronavirus cases in a number of countries against improving economic data releases and ongoing
[2020-07-29] Daniel M. Covitz, Deputy Director, Division of Research and Statistics, Board of Governors; Brian M. Doyle, Deputy Director, Division of International Finance, Board of Governors; Rochelle M. Edge, De
[2020-07-29] Eugene Amromin, Kathryn B. Chen,6 Matthew Nemeth,6 Joe Peek, and Patricia Zobel, Vice Presidents, Federal Reserve Banks of Chicago, New York, New York, Boston, and New York, respectively
[2020-07-29] Joshua Gallin, Special Adviser to the Chair, Division of Board Members, Board of Governors
[2020-07-29] Notation Vote By notation vote completed on June 30, 2020, the Committee unanimously approved the minutes of the Committee meeting held on June 9-10, 2020.
[2020-07-29] Committee Policy Action In their discussion of monetary policy for this meeting, members agreed that the coronavirus outbreak was causing tremendous human and economic hardship across the United State
[2020-07-29] Total nonfarm payroll employment expanded robustly in June, as it did in May, but the gains in those two months offset only about one-third of the jobs lost in March and April. The unemployment rate m
[2020-07-29] Brian J. Bonis and Etienne Gagnon,3 Assistant Directors, Division of Monetary Affairs, Board of Governors; Viktors Stebunovs,5 Assistant Director, Division of International Finance, Board of Governors
[2020-07-29] Secretary's note: The Chair subsequently provided approval to the Desk, following the procedures in the Authorization for Foreign Currency Operations, to extend the expiration of the temporary U.S. do
[2020-07-29] The SOMA manager reported that market functioning across a number of market segments remained stable at significantly improved levels. In Treasury and agency mortgage-backed securities (MBS) markets,
[2020-07-29] Total PCE price inflation was 0.5 percent over the 12 months ending in May, reflecting both weak aggregate demand and a considerable drop in consumer energy prices. Core PCE price inflation, which exc
[2020-07-29] 3. Attended through the discussion of the review of monetary policy strategy, tools, and communication practices. Return to text
[2020-07-29] Financing conditions in the residential mortgage market were generally unchanged over the intermeeting period. The spread between the primary mortgage rate and MBS yields remained wide, reflecting cap
[2020-07-29] A majority of participants commented on yield caps and targets—approaches that cap or target interest rates along the yield curve—as a monetary policy tool. Of those participants who discussed this op
[2020-07-29] Penelope A. Beattie,7 Section Chief, Office of the Secretary, Board of Governors; Dana L. Burnett, Section Chief, Division of Monetary Affairs, Board of Governors
[2020-07-29] July 28-29, 2020 A joint meeting of the Federal Open Market Committee and the Board of Governors was held by videoconference on Tuesday, July 28, 2020, at 10:00 a.m. and continued on Wednesday, July 2
[2020-07-29] Members agreed that they would continue to monitor the implications of incoming information for the economic outlook—including information related to public health—as well as global developments and m
[2020-07-29] Voting for the monetary policy action were Jerome H. Powell, Chair; John C. Williams, Vice Chair; Michelle W. Bowman; Lael Brainard; Richard H. Clarida; Patrick Harker; Robert S. Kaplan; Neel Kashkari
[2020-07-29] James Narron, First Vice President, Federal Reserve Bank of Philadelphia
[2020-07-29] PRESENT: Jerome H. Powell, Chair John C. Williams, Vice Chair Michelle W. Bowman Lael Brainard Richard H. Clarida Patrick Harker Robert S. Kaplan Neel Kashkari Loretta J. Mester Randal K. Quarles
[2020-07-29] 8. The approved FIMA Desk Resolution, which updates the March 2020 resolution with a new expiration date, is available with other Committee organizational documents at https://www.federalreserve.gov/m
[2020-07-29] 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
[2020-07-29] The staff's broad dollar index declined slightly, on net, with moderate depreciation against AFE currencies. The EU Recovery Fund agreement supported the euro, which appreciated about 3 percent agains
[2020-07-29] The coronavirus outbreak is causing tremendous human and economic hardship across the United States and around the world. Following sharp declines, economic activity and employment have picked up some
[2020-07-29] 6. Attended the discussion of developments in financial markets and open market operations. Return to text
[2020-07-29] Edward Nelson and Robert J. Tetlow, Senior Advisers, Division of Monetary Affairs, Board of Governors
[2020-07-29] Michele Cavallo and Kurt F. Lewis, Principal Economists, Division of Monetary Affairs, Board of Governors
[2020-07-29] Participants also discussed the nature of the current situation in the labor market. They noted that the downturn in employment was concentrated among lower-wage and service-sector workers, many of wh
[2020-07-29] Participants also judged that, in order to continue to support the flow of credit to households and businesses, it would be appropriate over coming months for the Federal Reserve to increase its holdi
[2020-07-29] Staff Review of the Economic Situation The coronavirus outbreak and the measures undertaken to contain its spread continued to have substantial effects on economic activity in the United States and ab