yusufizzetmurat/fed-pulse-embedding-caches huggingface dataset:
[2021-09-22] The staff continued to judge that the risks to the baseline projection for economic activity were skewed to the downside. In particular, the future course of the pandemic was seen as an important sour
[2021-09-22] Regarding the outlook for monetary policy, market participants noted policymaker communications suggesting that tapering of asset purchases could begin this year and end by mid-2022. Around half of re
[2021-09-22] All members agreed to keep the target range for the federal funds rate at 0 to 1/4 percent, and they expected that it would be appropriate to maintain this target range until labor market conditions h
[2021-09-22] Inflation, as measured by either the PCE price index or the consumer price index (CPI), had been boosted by a surge in demand as the economy reopened further, along with the effects of production bott
[2021-09-22] James Bullard, Esther L. George, Naureen Hassan, Loretta J. Mester, and Eric Rosengren, Alternate Members of the Committee
[2021-09-22] In light of increased usage of the ON RRP facility and the potential for continued downward pressure on short-term interest rates over the near term, the manager next discussed a staff proposal to inc
[2021-09-22] Alex Richter, Economic Policy Advisor and Senior Economist, Federal Reserve Bank of Dallas
[2021-09-22] Members agreed that the Federal Reserve was 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 stabilit
[2021-09-22] Financing conditions for consumer credit remained accommodative for most borrowers, especially those with stronger credit scores. Consumer credit and the credit card market expanded at a strong pace i
[2021-09-22] It was agreed that the next meeting of the Committee would be held on Tuesday–Wednesday, November 2–3, 2021. The meeting adjourned at 10:45 a.m. on September 22, 2021.
[2021-09-22] Don H. Kim, Edward Nelson, and Annette Vissing-Jørgensen, Senior Advisers, Division of Monetary Affairs, Board; Jeremy B. Rudd, Senior Adviser, Division of Research and Statistics, Board
[2021-09-22] Brian J. Bonis and Etienne Gagnon, Assistant Directors, Division of Monetary Affairs, Board
[2021-09-22] Penelope A. Beattie,3 Section Chief, Office of the Secretary, Board; Deepa D. Datta,4 Section Chief, Division of International Finance, Board
[2021-09-22] Keshav Dogra, Senior Economist, Federal Reserve Bank of New York
[2021-09-22] Members agreed that, in assessing the appropriate stance of monetary policy, they would continue to monitor the implications of incoming information for the economic outlook and that they would be pre
[2021-09-22] In the residential mortgage market, financing conditions remained accommodative particularly for borrowers who met standard conforming loan criteria. Mortgage rates increased slightly over the interme
[2021-09-22] William F. Bassett, Antulio N. Bomfim, Burcu Duygan-Bump, Jane E. Ihrig, Kurt F. Lewis, Chiara Scotti, and Nitish R. Sinha, Special Advisers to the Board, Division of Board Members, Board
[2021-09-22] Broad stock market prices were about unchanged, on net, over the intermeeting period. Early in the period, concerns over the Delta variant were a headwind for stock prices. Prices recovered following
[2021-09-22] Voting for the monetary policy action were Jerome H. Powell, Chair; John C. Williams, Vice Chair; Thomas I. Barkin; Raphael W. Bostic; Michelle W. Bowman; Lael Brainard; Richard H. Clarida; Mary C. Da
[2021-09-22] The staff's near-term outlook for inflation was revised up further in response to incoming data, but the staff continued to expect that this year's rise in inflation would prove to be transitory. The
[2021-09-22] Financing conditions in commercial real estate (CRE) improved over the intermeeting period amid increasing CRE property prices. CRE loan growth at banks strengthened and issuance of commercial mortgag
[2021-09-22] Several central banks announced reductions in the pace of their asset purchase programs or eventual plans for their balance sheets once asset purchases had been completed. These announcements were bro
[2021-09-22] In the advanced foreign economies (AFEs), where high vaccination rates had increased resilience to COVID-19 outbreaks, incoming data were consistent with economic growth in the third quarter at a slig
[2021-09-22] Available indicators suggested that growth in business fixed investment was slowing somewhat in the third quarter as supply bottlenecks—particularly for motor vehicles—weighed on business equipment sp
[2021-09-22] The manager turned next to a discussion of money markets and Federal Reserve operations. Domestic funding conditions were stable over the period. The federal funds rate edged lower amid ongoing increa
[2021-09-22] The manager provided a brief update on the new repurchase agreement (repo) facilities that the Committee had announced following its meeting in July. The Desk had been working to onboard depository in
[2021-09-22] In discussing the uncertainty and risks associated with the economic outlook, participants noted that uncertainty remained high. A number of participants judged that the uncertain course of the virus,
[2021-09-22] 4. Attended the discussion of economic developments and the outlook. Return to text
[2021-09-22] In their consideration of the stance of monetary policy, participants reaffirmed the Federal Reserve's commitment to using its full range of tools to support the U.S. economy during this challenging t
[2021-09-22] Developments in Financial Markets and Open Market Operations The manager turned first to a discussion of financial market developments over the period. Domestic financial conditions were little change
[2021-09-22] Minutes of the Federal Open Market Committee September 21â22, 2021 A joint meeting of the Federal Open Market Committee and the Board of Governors of the Federal Reserve System was held by videoconf
[2021-09-22] Following the FOMC policy vote, the Chair emphasized that maintaining the public trust is absolutely essential for the work of the Federal Reserve. In light of recent questions regarding the financial
[2021-09-22] Michael Dotsey and Joseph W. Gruber, Executive Vice Presidents, Federal Reserve Banks of Philadelphia and Kansas City, respectively
[2021-09-22] The path of the economy continues to depend on the course of the virus. Progress on vaccinations will likely continue to reduce the effects of the public health crisis on the economy, but risks to the
[2021-09-22] Participants' Views on Current Economic Conditions and the Economic Outlook In conjunction with this FOMC meeting, participants submitted their projections of the most likely outcomes for real GDP gro
[2021-09-22] David Na, Senior Financial Institution Policy Analyst, Division of Monetary Affairs, Board
[2021-09-22] Sally Davies, Deputy Director, Division of International Finance, Board
[2021-09-22] Manufacturing output rose strongly in July and ticked up further in August. In August, activity in the oil and gas sector and production of petrochemicals had been held down by shutdowns related to Hu
[2021-09-22] "Effective September 23, 2021, the Federal Open Market Committee directs the Desk to:
[2021-09-22] The U.S. international trade deficit remained high in July. After rising in June, real goods imports fell back in July, held down by a sizable decline in consumer goods imports, but the levels of cons
[2021-09-22] Average hourly earnings for all employees rose strongly in July and August, with gains that were widespread across industries. Recent monthly increases in average hourly earnings appeared to reflect a
[2021-09-22] Matthew J. Eichner,2 Director, Division of Reserve Bank Operations and Payment Systems, Board; Michael S. Gibson, Director, Division of Supervision and Regulation, Board; Andreas Lehnert, Director, Di
[2021-10-13] The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on September 21–22, 2021.
[2021-10-13] FOMC minutes can be viewed on the Board’s website at http://www.federalreserve.gov/monetarypolicy/fomccalendars.htm
[2021-10-13] Minutes of the Federal Open Market Committee September 21–22, 2021: HTML | PDF
[2021-10-13] 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
[2021-10-19] The Federal Reserve Board on Tuesday released the minutes of its interest rate meetings from August 23 through September 22, 2021.
[2021-11-03] In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adj
[2021-11-03] Isaiah C. Ahn, Senior Staff Assistant, Division of Monetary Affairs, Board
[2021-11-03] It was agreed that the next meeting of the Committee would be held on Tuesday–Wednesday, December 14–15, 2021. The meeting adjourned at 10:35 a.m. on November 3, 2021.
[2021-11-03] Total real government purchases posted a small increase in the third quarter after having declined in the second quarter. Al­though real state and local purchases increased, the gain was largely offse
[2021-11-03] Karel Mertens, Senior Economic Policy Advisor, Federal Reserve Bank of Dallas
[2021-11-03] Voting for this action: Jerome H. Powell, John C. Williams, Thomas I. Barkin, Raphael W. Bostic, Michelle W. Bowman, Lael Brainard, Richard H. Clarida, Mary C. Daly, Charles L. Evans, Randal K. Quarle
[2021-11-03] Growth in total nonfarm payroll employment slowed further in September, held down by a decline in state and local government employment. As of September, total payroll employment had retraced three-fo
[2021-11-03] Brent Meyer, Policy Advisor and Economist, Federal Reserve Bank of Atlanta
[2021-11-03] Regarding the debt ceiling, the short-term resolution reached in October increased the debt limit by $480 billion. Market participants' estimates of the new date when the Treasury would exhaust its ex
[2021-11-03] Foreign GDP growth slowed modestly in the third quarter, as supply chain disruptions and the resurgence of COVID-19 weighed on production, particularly in China and other emerging market economies (EM
[2021-11-03] Participants observed that growth in economic activity had slowed in the third quarter to a rate significantly below the robust pace seen in the first half of the year. The spread of the Delta variant
[2021-11-03] 1. The Federal Open Market Committee is referenced as the "FOMC" and the "Committee" in these minutes; the Board of Governors of the Federal Reserve System is referenced as the "Board" in these minute
[2021-11-03] 2. Attended through the discussion of developments in financial markets and open market operations. Return to text
[2021-11-03] James Bullard, Esther L. George, Naureen Hassan, Loretta J. Mester, and Kenneth C. Montgomery, Alternate Members of the Committee
[2021-11-03] Randall A. Williams, Group Manager, Division of Monetary Affairs, Board
[2021-11-03] Penelope A. Beattie,3 Section Chief, Office of the Secretary, Board
[2021-11-03] 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. With progres
[2021-11-03] Participants generally saw the current elevated level of inflation as largely reflecting factors that were likely to be transitory but judged that inflation pressures could take longer to subside than
[2021-11-03] In domestic credit markets, financing conditions faced by nonfinancial firms in capital markets remained highly accommodative over the intermeeting period. Gross corporate bond issuance stayed strong
[2021-11-03] Patrick Harker and Neel Kashkari, Presidents of the Federal Reserve Banks of Philadelphia, and Minneapolis, respectively
[2021-11-03] The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. With inflation having run persistently below this longer-run goal, the Committee will aim
[2021-11-03] Mark Spiegel, Senior Policy Advisor, Federal Reserve Bank of San Francisco
[2021-11-03] Linda Robertson, Assistant to the Board, Division of Board Members, Board
[2021-11-03] 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
[2021-11-03] In their consideration of the stance of monetary policy, participants agreed that the economy had made substantial further progress toward the Committee's goals since December 2020, when the Committee
[2021-11-03] The credit quality of large nonfinancial corporations remained strong. The volume of credit rating upgrades for speculative-grade nonfinancial corporate bonds outpaced downgrades in September and Octo
[2021-11-03] Staff Economic Outlook The projection for U.S. economic activity prepared by the staff for the November FOMC meeting was slightly weaker than the September projection. Incoming data suggested that the
[2021-11-03] Turning to money market developments, the manager noted that the transition away from LIBOR (London Interbank Offered Rate) had gained momentum with a pick-up in the interdealer trading volume of Secu
[2021-11-03] In their discussion of monetary policy in the period ahead, members agreed that, in light of the substantial further progress the economy had made toward the Committee's goals since last December, the
[2021-11-03] If similar reductions in the net purchase pace were implemented in subsequent months, the System Open Market Account (SOMA) portfolio would peak around next June at about $8.5 trillion. In terms of co
[2021-11-03] David López-Salido, Senior Associate Director, Division of Monetary Affairs, Board
[2021-11-03] While recognizing that labor market conditions varied significantly across the country, some participants cited a number of signs that the U.S. labor market was very tight: These included data on quit
[2021-11-03] The staff continued to judge that the risks to the baseline projection for economic activity were skewed to the downside and that the risks around the inflation projection were skewed to the upside. I
[2021-11-03] Notation Vote By notation vote completed on October 12, 2021, the Committee unanimously approved the minutes of the Committee meeting held on September 21–22, 2021.
[2021-11-03] With progress on vaccinations and strong policy support, indicators of economic activity and employment have continued to strengthen. The sectors most adversely affected by the pandemic have improved
[2021-11-03] Daniel M. Covitz, Deputy Director, Division of Research and Statistics, Board; Sally Davies, Deputy Director, Division of International Finance, Board
[2021-11-03] Michele Cavallo, Principal Economist, Division of Monetary Affairs, Board
[2021-11-03] Short-term funding markets were stable over the intermeeting period. The effective federal funds rate remained at 8 basis points throughout the period except on month-ends, while the SOFR averaged 5 b
[2021-11-03] Skander Van den Heuvel, Deputy Associate Director, Division of Financial Stability, Board
[2021-11-03] Broad equity indexes increased, on net, over the intermeeting period. Perceptions of increased risks related to inflation were more than offset by a short-term resolution of the debt ceiling, a decrea
[2021-11-03] A number of participants commented on issues related to financial stability. A couple of participants noted factors supporting the strength and resilience of the U.S. financial system, including the s
[2021-11-03] 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.
[2021-11-03] Jose Acosta, Senior Communications Analyst, Division of Information Technology, Board
[2021-11-03] Members agreed that the Federal Reserve was 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 stabilit
[2021-11-03] Members decided the postmeeting statement should state that the Committee judged that similar reductions in the pace of net asset purchases would likely be appropriate in subsequent months, implying t
[2021-11-03] Matthew J. Eichner,2 Director, Division of Reserve Bank Operations and Payment Systems, Board; Michael S. Gibson, Director, Division of Supervision and Regulation, Board; Andreas Lehnert, Director, Di
[2021-11-03] In their comments on inflation expectations, a number of participants discussed the risk that, in light of recent elevated levels of inflation, the public's longer-term expectations of inflation might
[2021-11-03] Market participants' views on the expected path for the federal funds rate over the next few years—implied by a straight read of overnight index swap quotes—rose substantially since the September FOMC
[2021-11-03] 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 Trevor A. Reeve, Econo
[2021-11-03] Staff Review of the Financial Situation Over the intermeeting period, an increase in perceived inflation risks and an associated upward revision in the market-implied path of the federal funds rate co
[2021-11-03] Commercial real estate loan balances on banks' books strengthened, and, in the October SLOOS, banks reported an easing of standards on such loans over the third quarter. Issuance of commercial mortgag
[2021-11-03] Minutes of the Federal Open Market Committee November 2-3, 2021 A joint meeting of the Federal Open Market Committee and the Board of Governors of the Federal Reserve System was held in the offices of
[2021-11-03] Participants' Views on Current Economic Conditions and the Economic Outlook In their discussion of current conditions, participants noted that, with progress on vaccinations and strong policy support,
[2021-11-03] Commercial and industrial (C&I) loans declined notably in the third quarter amid ongoing forgiveness of Paycheck Protection Program loans. In the October Senior Loan Officer Opinion Survey on Bank Len
[2021-11-03] Edward S. Prescott, Senior Economic and Policy Advisor, Federal Reserve Bank of Cleveland
[2021-11-03] Participants noted that data received over the intermeeting period indicated that labor market conditions had continued to improve. Al­though the September increase in payrolls had been moderate compa
[2021-11-03] The U.S. international trade deficit widened in August, reflecting a moderate pace of import growth against a subdued pace of export growth. Real import growth was driven by increases in consumer good
[2021-11-03] The path of the economy continues to depend on the course of the virus. Progress on vaccinations and an easing of supply constraints are expected to support continued gains in economic activity and em
[2021-11-03] Over the intermeeting period, U.S. equity indexes rose and the one-month option-implied volatility on the S&P 500—the VIX—fell to post-pandemic lows. Continued strong earnings underpinned the rise in
[2021-11-03] Following these actions, the Chair commented on the critical importance of maintaining the public's trust and confidence in the Federal Reserve as an institution. In this regard, the Chair noted the r
[2021-11-03] 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
[2021-11-03] Edward Nelson and Annette Vissing-Jørgensen, Senior Advisers, Division of Monetary Affairs, Board; Jeremy B. Rudd, Senior Adviser, Division of Research and Statistics, Board
[2021-11-03] Attendance Jerome H. Powell, Chair John C. Williams, Vice Chair Thomas I. Barkin Raphael W. Bostic Michelle W. Bowman Lael Brainard Richard H. Clarida Mary C. Daly Charles L. Evans Randal K. Quarles C
[2021-11-03] "Effective November 4, 2021, the Federal Open Market Committee directs the Desk to:
[2021-11-03] A joint meeting of the Federal Open Market Committee and the Board of Governors of the Federal Reserve System was held in the offices of the Board of Governors on Tuesday, November 2, 2021, at 1:00 p.
[2021-11-03] The staff's near-term outlook for inflation was revised up, as consumer food and energy prices had risen faster than expected and production bottlenecks and recent wage gains were seen as putting some
[2021-11-03] Members agreed that the postmeeting statement should acknowledge that the sectors of the economy most adversely affected by the pandemic had improved in recent months, but that the summer's rise in CO
[2021-11-03] Voting for the monetary policy action were Jerome H. Powell, Chair; John C. Williams, Vice Chair; Thomas I. Barkin; Raphael W. Bostic; Michelle W. Bowman; Lael Brainard; Richard H. Clarida; Mary C. Da
[2021-11-03] Meredith Black, Interim President of the Federal Reserve Bank of Dallas
[2021-11-03] ï»¿ The Fed - Monetary Policy: Skip to main content An official website of the United States Government Here's how you know Official websites use .gov A .gov website belongs to an official government
[2021-11-03] Growth in business fixed investment slowed sharply in the third quarter, as supply bottlenecks—particularly for motor vehicles—weighed on business equipment spending and a limited availability of cons
[2021-11-03] Callum Jones and Arsenios Skaperdas, Senior Economists, Division of Monetary Affairs, Board
[2021-11-03] Participants stressed that maintaining flexibility to implement appropriate policy adjustments on the basis of risk-management considerations should be a guiding principle in conducting policy in the
[2021-11-03] Consistent with the Committee's decision to leave the target range for the federal funds rate unchanged, the Board voted unanimously to maintain the interest rate paid on reserve balances at 0.15 perc
[2021-11-03] Anne Baum, Carlos Garriga, Paolo A. Pesenti, and Mark L.J. Wright, Senior Vice Presidents, Federal Reserve Banks of New York, St. Louis, New York, and Minneapolis, respectively
[2021-11-03] Ron Feldman, First Vice President, Federal Reserve Bank of Minneapolis
[2021-11-03] Because the Open Market Desk would be releasing two monthly purchase schedules between the November and December FOMC meetings, the Committee further decided to add to the postmeeting statement an ind
[2021-11-03] Manufacturing output declined in September. Motor vehicle output stepped down further as semiconductor shortages continued to restrain production; in addition, Hurricane Ida resulted in prolonged plan
[2021-11-03] In major foreign markets, sovereign yields rose notably over the intermeeting period, as did inflation compensation and market-implied measures of expected policy rates, amid sharp further increases i
[2021-11-03] Jon Faust and Joshua Gallin, Senior Special Advisers to the Chair, Division of Board Members, Board
[2021-11-03] Discussion of Financial Markets and Open Market Operations The manager turned first to a discussion of global financial markets. Sovereign yields rose sharply across many advanced economies with much
[2021-11-03] Staff Review of the Economic Situation The information available at the time of the November 2–3 meeting suggested that U.S. real GDP growth had slowed markedly in the third quarter after the first ha
[2021-11-03] The staff provided an update on indicators related to the stability of the financial system. The staff noted that asset valuations remained generally high relative to historical norms. In particular,
[2021-11-03] Committee Policy Action In their discussion of monetary policy for this meeting, members agreed that with progress on vaccinations and strong policy support, indicators of economic activity and employ
[2021-11-03] Satyajit Chatterjee and Alexander L. Wolman, Vice Presidents, Federal Reserve Banks of Philadelphia and Richmond, respectively
[2021-11-03] The vote also encompassed approval of the statement below for release at 2:00 p.m.: