yusufizzetmurat/fed-pulse-embedding-caches huggingface dataset:
[2019-01-30] In their consideration of the economic outlook, members noted that financial conditions had tightened, on net, since September, and that global growth had moderated; members also observed that a numbe
[2019-01-30] Growth in real private expenditures for business equipment and intellectual property looked to have picked up solidly in the fourth quarter. Nominal shipments of nondefense capital goods excluding air
[2019-01-30] 5. The Committee authorizes the Chairman of the Committee, in fostering the Committee's objectives during any period between meetings of the Committee, to instruct the Selected Bank to act on behalf o
[2019-01-30] Meredith Black, First Vice President, Federal Reserve Bank of Dallas
[2019-01-30] Linda Robertson, Assistant to the Board, Office of Board Members, Board of Governors
[2019-01-30] iii. Conducted for such other purposes as may be determined by the Committee.
[2019-01-30] Committee Policy Action In their discussion of monetary policy for the period ahead, members judged that information received since the Committee met in December indicated that the labor market had co
[2019-01-30] Eric C. Engstrom, Deputy Associate Director, Division of Monetary Affairs, and Adviser, Division of Research and Statistics, Board of Governors
[2019-01-30] The Federal Open Market Committee (FOMC) is firmly committed to fulfilling its statutory mandate from the Congress of promoting maximum employment, stable prices, and moderate long-term interest rates
[2019-01-30] Based on their current assessments, all participants expressed the view that it would be appropriate for the Committee to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 percent
[2019-01-30] RECIPROCAL CURRENCY ARRANGEMENTS, AND STANDING DOLLAR AND FOREIGN CURRENCY LIQUIDITY SWAPS
[2019-01-30] ii. Undertaken to adjust System balances in light of probable future needs for currencies; or
[2019-01-30] The staff also described options for communicating plans both for the operating regime and for the completion of the normalization of the size of the balance sheet. If the Committee reached a decision
[2019-01-30] The Committee directs the Desk to continue rolling over at auction the amount of principal payments from the Federal Reserve's holdings of Treasury securities maturing during each calendar month that
[2019-01-30] "Effective January 31, 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 2-1/4 to 2-1/2
[2019-01-30] By unanimous vote, the Committee reaffirmed its Program for Security of FOMC Information.
[2019-01-30] AUTHORIZATION FOR FOREIGN CURRENCY OPERATIONS (As reaffirmed effective January 29, 2019)
[2019-01-30] Early in the new year, market sentiment improved following communications by Federal Reserve officials emphasizing that the Committee could be "patient" in considering further adjustments to the stanc
[2019-01-30] i. As an outright operation with securities dealers and foreign and international accounts maintained at the Selected Bank: on a same-day or deferred delivery basis (including such transactions as are
[2019-01-30] John C. Williams, President of the Federal Reserve Bank of New York, with Michael Strine, First Vice President of the Federal Reserve Bank of New York, as alternate
[2019-01-30] i. Undertake repo transactions in Eligible Securities with dealers with a corresponding reverse repo transaction in such Eligible Securities with the Customer Accounts; and
[2019-01-30] David Altig and Sylvain Leduc, Executive Vice Presidents, Federal Reserve Banks of Atlanta and San Francisco, respectively
[2019-01-30] C. For purposes of this Authorization, the overall volume of standalone spot and forward transactions in foreign currencies is defined as the sum (disregarding signs) of the dollar values of individua
[2019-01-30] Foreign financial markets followed the same general pattern as those in the United States. On balance, foreign equity prices moved up moderately and sovereign credit spreads in EMEs narrowed. Moreover
[2019-01-30] i. Primarily, to ensure sufficient liquidity to enable the Selected Bank to conduct foreign currency operations as directed by the Committee;
[2019-01-30] D. Operations involving standing dollar liquidity swap arrangements and standing foreign currency liquidity swap arrangements shall generally be directed at countering strains in financial markets in
[2019-01-30] Private-sector analysts significantly revised down their projections for corporate earnings for the fourth quarter and for 2019 as a whole. The pace of gross equity issuance through both initial and s
[2019-01-30] Household spending looked to have increased strongly in the fourth quarter, as real PCE growth was strong in October and November. The release of the retail sales report for December was delayed, but
[2019-01-30] A. In a manner consistent with the obligations regarding exchange arrangements under Article IV of the Articles of Agreement of the International Monetary Fund (IMF).1
[2019-01-30] i. Reject bids that, as determined in its sole discretion, could facilitate a bidder's ability to control a single issue;
[2019-01-30] In U.S. risky asset markets, the S&P 500 equity index was down as much as 8 percent at one point during the period but ended the period notably higher. On net, the VIX fell substantially while corpora
[2019-01-30] 4. The Committee directs the Selected Bank to hold and to invest foreign currencies in the portfolio in accordance with the provisions of paragraph 7 of the Authorization.
[2019-01-30] Recent data suggested that foreign economic growth was subdued in the fourth quarter relative to earlier in the year. In the advanced foreign economies (AFEs), especially the euro area, indicators of
[2019-01-30] ii. As a temporary operation: on a same-day or deferred delivery basis, to purchase such Eligible Securities subject to an agreement to resell ("repo transactions") or to sell such Eligible Securities
[2019-01-30] Staff Review of the Financial Situation Investor risk sentiment fluctuated materially over the intermeeting period. A variety of factors--including FOMC communications, weaker-than-expected data, trad
[2019-01-30] Marnie Gillis DeBoer,2 Associate Director, Division of Monetary Affairs, Board of Governors
[2019-01-30] Participants noted that maintaining the current target range for the federal funds rate for a time posed few risks at this point. The current level of the federal funds rate was at the lower end of th
[2019-01-30] The Committee voted unanimously to reaffirm without revision the Authorization for Foreign Currency Operations and the Foreign Currency Directive as shown below.
[2019-01-30] By unanimous vote, the Committee selected Simon Potter and Lorie K. Logan to serve at the pleasure of the Committee as manager and deputy manager of the SOMA, respectively, on the understanding that t
[2019-01-30] B. To hold balances of, and to have outstanding forward contracts to receive or to deliver, foreign currencies.
[2019-01-30] A. With the prior approval of the Committee, to enter into any needed agreement or understanding with the Secretary of the United States Treasury about the division of responsibility for foreign curre
[2019-01-30] ii. Purchasing Permitted Foreign Securities under agreements for repurchase of such Permitted Foreign Securities and selling such securities under agreements for the resale of such securities; and
[2019-01-30] 1. The Committee directs the Federal Reserve Bank selected by the Committee (the "Selected Bank") to execute open market transactions, for the System Open Market Account, in accordance with the provis
[2019-01-30] 1. The Federal Open Market Committee (the "Committee") authorizes the Federal Reserve Bank selected by the Committee (the "Selected Bank") to execute open market transactions for the System Open Marke
[2019-01-30] By unanimous vote, the following officers of the Committee were selected to serve until the selection of their successors at the first regularly scheduled meeting of the Committee in 2020:
[2019-01-30] 5. The Committee's Policy Normalization Principles and Plans were adopted on September 16, 2014, and are available at https://www.federalreserve.gov/monetarypolicy/files/FOMC_PolicyNormalization.pdf.
[2019-01-30] Information received since the Federal Open Market Committee met in December indicates that the labor market has continued to strengthen and that economic activity has been rising at a solid rate. Job
[2019-01-30] The staff's forecast for inflation was little revised for the January FOMC meeting. Core PCE price inflation was still expected to step up to 2 percent over this year as a whole and then to run at tha
[2019-01-30] Developments in Financial Markets and Open Market Operations The deputy manager of the System Open Market Account (SOMA) provided an overview of developments in U.S. and global financial markets. Fina
[2019-01-30] A. For reciprocal currency arrangements all drawings must be approved in advance by the Committee (or by the Subcommittee, if the Subcommittee believes that consultation with the Committee is not feas
[2019-01-30] C. In consultation, as appropriate, with foreign monetary authorities, foreign central banks, and international monetary institutions.
[2019-01-30] Christopher J. Erceg, Senior Associate Director, Division of International Finance, Board of Governors; David E. Lebow and Michael G. Palumbo, Senior Associate Directors, Division of Research and Stat
[2019-01-30] The vote also encompassed approval of the statement below to be released at 2:00 p.m.:
[2019-01-30] The staff viewed the uncertainty around its projections for real GDP growth, the unemployment rate, and inflation as similar to the average of the past 20 years. The staff also saw the risks to the fo
[2019-01-30] In the commercial real estate (CRE) sector, financing conditions remained accommodative. Although commercial mortgage backed securities (CMBS) spreads were volatile, they were little changed, on net,
[2019-01-30] C. The outstanding amount of the transactions described in paragraphs 1.A.ii and 2 shall not exceed $5 billion at any given time.
[2019-01-30] iv. Subject to reasonable limitations on the amount of Eligible Securities that each borrower may borrow.
[2019-01-30] In reviewing money market developments, the deputy manager noted that federal funds continued to trade at rates close to the interest on excess reserves rate. Moreover, no signs of reserve scarcity we
[2019-01-30] Respondents to the January 2019 Senior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS) reported that lending standards for commercial and industrial (C&I) loans remained basically unchan
[2019-01-30] 2. Attended through the discussion of the long-run monetary policy implementation frameworks. Return to text
[2019-01-30] iv. To achieve such other objectives as may be authorized by the Committee.
[2019-01-30] 4. In order to ensure the effective conduct of open market operations, while assisting in the provision of short-term investments or other authorized services for foreign central bank and internationa
[2019-01-30] 1. The Federal Open Market Committee is referenced as the "FOMC" and the "Committee" in these minutes. Return to text
[2019-01-30] STATEMENT REGARDING MONETARY POLICY IMPLEMENTATION AND BALANCE SHEET NORMALIZATION (Adopted January 30, 2019)
[2019-01-30] 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
[2019-01-30] B. In close and continuous cooperation and consultation, as appropriate, with the United States Treasury.
[2019-01-30] 2. In order to ensure the effective conduct of open market operations, the Committee authorizes the Selected Bank to operate a program to lend Eligible Securities held in the SOMA to dealers on an ove
[2019-01-30] In their consideration of monetary policy at this meeting, participants judged that information received since December indicated that real economic activity had been rising at a solid rate, labor mar
[2019-01-30] Nominal Treasury yields fluctuated substantially, with heightened risk aversion contributing to a significant decline in yields early in the intermeeting period. Subsequently, yields rose, though 2-,
[2019-01-30] Jon Faust, Senior Special Adviser to the Chairman, Office of Board Members, Board of Governors
[2019-01-30] Ann E. Misback, Secretary, Office of the Secretary, Board of Governors
[2019-01-30] Thomas I. Barkin, Raphael W. Bostic, and Mary C. Daly, Presidents of the Federal Reserve Banks of Richmond, Atlanta, and San Francisco, respectively
[2019-01-30] E. For reciprocal currency arrangements, standing dollar liquidity swap arrangements, and standing foreign currency liquidity swap arrangements:
[2019-01-30] Total U.S. consumer prices, as measured by the PCE price index, increased 1.8 percent over the 12 months ending in November. Core PCE price inflation, which excludes changes in consumer food and energ
[2019-01-30] PRESENT: Jerome H. Powell, Chairman John C. Williams, Vice Chairman Michelle W. Bowman Lael Brainard James Bullard Richard H. Clarida Charles L. Evans Esther L. George Randal K. Quarles Eric Rosengren
[2019-01-30] 10. All Federal Reserve banks shall participate in the foreign currency operations for System Open Market Account in accordance with paragraph 3G(1) of the Board of Governors' Statement of Procedure w
[2019-01-30] Participants observed that both overall inflation and inflation for items other than food and energy remained near 2 percent on a 12-month basis. Participants continued to view inflation near the Comm
[2019-01-30] Industrial production increased solidly in December. Output gains were strong in the manufacturing and mining sectors, while the output of utilities declined, with warmer-than-usual temperatures lower
[2019-01-30] In their discussion of financial developments, participants noted that although financial market conditions had not changed much, on net, over the intermeeting period, prices had been volatile and fin
[2019-01-30] Almost all participants thought that it would be desirable to announce before too long a plan to stop reducing the Federal Reserve's asset holdings later this year. Such an announcement would provide
[2019-01-30] 4. The Committee authorizes the Selected Bank, with the prior approval of the Subcommittee and at the request of the United States Treasury, to conduct swap transactions with the United States Exchang
[2019-01-30] iii. Any changes in the terms of existing arrangements must be approved in advance by the Chairman. The Chairman shall keep the Committee informed of any changes in terms, and the terms shall be consi
[2019-01-30] A. Reciprocal currency arrangements with the following foreign central banks:
[2019-01-30] B. To advise the Secretary of the United States Treasury concerning System foreign currency operations, and to consult with the Secretary on policy matters relating to foreign currency operations;
[2019-01-30] Staff Review of the Economic Situation The information available for the January 29-30 meeting indicated that labor market conditions continued to strengthen and that growth in real gross domestic pro
[2019-01-30] 9. The Committee authorizes the Selected Bank to undertake transactions of the type described in this Authorization, and foreign exchange and investment transactions that it may be otherwise authorize
[2019-01-30] i. Purchasing and selling obligations of, or fully guaranteed as to principal and interest by, a foreign government or agency thereof ("Permitted Foreign Securities") through outright purchases and sa
[2019-01-30] Ayelen Banegas, Senior Economist, Division of Monetary Affairs, Board of Governors
[2019-01-30] 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
[2019-01-30] B. To allow Eligible Securities in the SOMA to mature without replacement;
[2019-01-30] Secretary's note: Advice subsequently was received that the manager and deputy manager selections indicated above were satisfactory to the Federal Reserve Bank of New York.
[2019-01-30] The federal funds rate and other overnight funding rates rose following the increase in the target range for the federal funds rate at the December FOMC meeting. Year-end pressures in repo markets wer
[2019-01-30] Jennifer J. Burns, Deputy Director, Division of Supervision and Regulation, Board of Governors; Michael T. Kiley, Deputy Director, Division of Financial Stability, Board of Governors; Trevor A. Reeve,
[2019-01-30] After extensive deliberations and thorough review of experience to date, the Committee judges that it is appropriate at this time to provide additional information regarding its plans to implement mon
[2019-01-30] Samuel Schulhofer-Wohl, Senior Economist and Research Advisor, Federal Reserve Bank of Chicago
[2019-01-30] Data on U.S. international trade for November and December also were delayed. The available data for October suggested that the contribution of the change in net exports to real GDP growth in the four
[2019-01-30] Following the discussion, the Chairman proposed that the Committee communicate its intentions regarding monetary policy implementation and its willingness to adjust the details of its balance sheet no
[2019-01-30] David H. Small, Project Manager, Division of Monetary Affairs, Board of Governors
[2019-01-30] 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.
[2019-01-30] In the Committee's annual reconsideration of the Statement on Longer-Run Goals and Monetary Policy Strategy, participants agreed that only a minor revision was required at this meeting, which was to u
[2019-01-30] In their discussion of indicators of inflation expectations, participants noted that market-based measures of inflation compensation had moved lower in recent months. Participants expressed a range of
[2019-01-30] 6. Any other operations in foreign currencies for which governance is not otherwise specified in this Authorization (such as foreign exchange swap transactions with private‑sector counterparties) must
[2019-01-30] Staff Economic Outlook The U.S. economic forecast prepared by the staff for the January FOMC meeting was revised down a little, on balance, primarily reflecting somewhat lower projected paths for dome
[2019-01-30] Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In support of these goals, the Committee decided to maintain the target range for the feder
[2019-01-30] In consumer credit markets, financing conditions tightened a bit but, on balance, remained generally supportive of growth in household spending. Banks reported in the SLOOS that they tightened credit
[2019-01-30] By unanimous vote, the Committee approved the Authorization for Domestic Open Market Operations with a revision that makes clear that small value tests for rollovers and maturities are included in the
[2019-01-30] The staff briefing also included a discussion of factors relevant in judging the level of reserves that would support the efficient implementation of monetary policy. The staff suggested that maintain
[2019-01-30] 6. The Committee directs the Selected Bank to conduct testing of transactions for the purpose of operational readiness in accordance with the provisions of paragraph 9 of the Authorization.
[2019-01-30] With regard to the postmeeting statement, members agreed to change the characterization of recent growth in economic activity from "strong" to "solid," consistent with incoming information that sugges
[2019-01-30] iii. Accept agency securities as collateral only for a loan of agency securities authorized in this paragraph 2.
[2019-01-30] 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 Roseng
[2019-01-30] Patrick Harker, Robert S. Kaplan, Neel Kashkari, Loretta J. Mester, and Michael Strine, Alternate Members of the Federal Open Market Committee
[2019-01-30] Transactions undertaken with Customer Accounts under the provisions of this paragraph 4 may provide for a service fee when appropriate. Transactions undertaken with Customer Accounts are also subject
[2019-01-30] Pon Sagnanert, Financial Analyst, Division of Monetary Affairs, Board of Governors
[2019-01-30] Roc Armenter,2 Kathryn B. Chen,2 Joe Peek, Alexander L. Wolman, and Patricia Zobel,2 Vice Presidents, Federal Reserve Banks of Philadelphia, New York, Boston, Richmond, and New York, respectively
[2019-01-30] B. Standing dollar liquidity swap arrangements with the following foreign central banks:
[2019-01-30] C. Standing foreign currency liquidity swap arrangements with the following foreign central banks:
[2019-01-30] Brian M. Doyle, Joseph W. Gruber, Ellen E. Meade, and John M. Roberts, Special Advisers to the Board, Office of Board Members, Board of Governors
[2019-01-30] The dollar depreciated broadly amid falling U.S. yields and greater investor optimism about prospects for some EMEs. The dollar depreciated notably against the British pound, on net, as market partici
[2019-01-30] 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
[2019-01-30] Yvette McKnight,3 Staff Assistant, Office of the Secretary, Board of Governors
[2019-01-30] B. Any Federal Reserve Bank that maintains Customer Accounts, for any such Customer Account, when appropriate and subject to all other necessary authorization and approvals, to:
[2019-01-30] The Committee intends to reaffirm these principles and to make adjustments as appropriate at its annual organizational meeting each January.
[2019-01-30] The deputy manager reported results from the Open Market Desk's latest surveys of primary dealers and market participants. Regarding the outlook for policy, the median path for the federal funds rate
[2019-01-30] Financing conditions for nonfinancial firms tightened somewhat, on balance. Gross issuance of corporate bonds slowed considerably in December across the credit rating spectrum but rebounded in January
[2019-01-30] A. The Selected Bank, for the SOMA, to undertake reverse repo transactions in Eligible Securities held in the SOMA with the Customer Accounts for a term of 65 business days or less; and
[2019-01-30] FOREIGN CURRENCY DIRECTIVE (As reaffirmed effective January 29, 2019)
[2019-01-30] Glenn Follette and Norman J. Morin, Assistant Directors, Division of Research and Statistics, Board of Governors; Christopher J. Gust, Laura Lipscomb,2 and Zeynep Senyuz,2 Assistant Directors, Divisio
[2019-01-30] Luke Pettit,2 Senior Financial Institution and Policy Analyst, Division of Monetary Affairs, Board of Governors
[2019-01-30] A. To buy or sell in the open market securities that are direct obligations of, or fully guaranteed as to principal and interest by, the United States, and securities that are direct obligations of, o
[2019-01-30] 12. The Committee authorizes the Chairman, in exceptional circumstances where it would not be feasible to convene the Committee, to foster the Committee's objectives by instructing the Selected Bank t
[2019-01-30] Dana L. Burnett, Michele Cavallo,2 and Dan Li, Section Chiefs, Division of Monetary Affairs, Board of Governors
[2019-01-30] 1. In general, as specified in Article IV, each member of the IMF undertakes to collaborate with the IMF and other members to assure orderly exchange arrangements and to promote a stable system of exc
[2019-01-30] Participants observed that a patient posture in these circumstances was consistent with their general approach to setting the stance of policy, in which they were importantly guided by the implication