yusufizzetmurat/fed-pulse-embedding-caches huggingface dataset:
[2005-01-01] Pursuant to the Committee's instructions in March, the staff had activated its study of the possible employment of mortgage-backed securities guaranteed by the Government National Mortgage Association
[2005-01-01] Indeed, the commitment to long-run price stability can afford the central bank some flexibility in employing its tools to address shorter-run economic issues.
[2005-01-01] Job growth last month was fairly widespread, although heavy hiring in the construction sector was due partly to efforts to repair damage from the four hurricanes that hit the southeastern states.
[2005-01-01] the volume of sales balance had been at its weakest since january 1999.
[2005-01-01] First, insofar as recent productivity growth is concerned, I have a serious question about the quality of the data that we employ to measure output in today's economy.
[2005-01-01] Projections of the rate of inflation, as measured by the consumer price index, had a central tendency of 1-3/4 to 2-1/4 percent, on the high side of the outcome for 1997 when the rise in the index was
[2005-01-01] However, in my judgment, reliance on these two approaches is not symmetric; instead, the forecast-based approach has become increasingly dominant in the monetary policymaking of leading central banks.
[2005-01-01] Indeed, stock prices did not collapse in 1929 but only began to plummet when the depth of the general economic decline became apparent.
[2005-01-01] On balance, in light of the uncertainties in the outlook and given that a variety of special factors would continue to contain inflation for a time, the Committee could await further developments bear
[2005-01-01] The staff's near-term forecast for inflation was revised up a little, as recent data showed somewhat faster-than-anticipated increases that were judged to be only partly transitory.
[2005-02-02] Minutes of the Federal Open Market Committee February 1-2, 2005 A meeting of the Federal Open Market Committee was held in the offices of the Board of Governors of the Federal Reserve System in Washin
[2005-02-02] And the random walk--that is, no change from today--in a statistical sense outperforms on average any of the alternatives that have been suggested.
[2005-02-02] In talking to employers, the general impression I get is that they are finding labor availability to be ample, although occasionally they've expressed some concern about the shortage of particular ski
[2005-02-02] Release Date: February 2, 2005 For immediate release The Federal Open Market Committee decided today to raise its target for the federal funds rate by 25 basis points to 2-1/2 percent. The Committee b
[2005-03-22] Minutes of the Federal Open Market Committee March 22, 2005 A meeting of the Federal Open Market Committee was held in the offices of the Board of Governors of the Federal Reserve System in Washington
[2005-03-22] Release Date: March 22, 2005 For immediate release The Federal Open Market Committee decided today to raise its target for the federal funds rate by 25 basis points to 2-3/4 percent. The Committee bel
[2005-05-03] Minutes of the Federal Open Market Committee May 3, 2005 A meeting of the Federal Open Market Committee was held in the offices of the Board of Governors of the Federal Reserve System in Washington, D
[2005-05-03] Release Date: May 3, 2005 For immediate release The Federal Open Market Committee decided today to raise its target for the federal funds rate by 25 basis points to 3 percent. The Committee believes t
[2005-05-03] The thing I would note is that GM is a smaller component of the BBB index than it would be of the high-yield index.
[2005-06-30] Minutes of the Federal Open Market Committee June 29-30, 2005 A meeting of the Federal Open Market Committee was held in the offices of the Board of Governors of the Federal Reserve System in Washingt
[2005-06-30] Release Date: June 30, 2005 For immediate release The Federal Open Market Committee decided today to raise its target for the federal funds rate by 25 basis points to 3-1/4 percent. The Committee beli
[2005-06-30] The other interesting dynamic, of course, is that as agricultural subsidies have increased so rapidly--they are now about 50 percent of net farm income--there's less concern about the value of land co
[2005-08-09] Minutes of the Federal Open Market Committee August 9, 2005 A meeting of the Federal Open Market Committee was held in the offices of the Board of Governors of the Federal Reserve System in Washington
[2005-08-09] Release Date: August 9, 2005 For immediate release The Federal Open Market Committee decided today to raise its target for the federal funds rate by 25 basis points to 3-1/2 percent. The Committee bel
[2005-09-20] Minutes of the Federal Open Market Committee September 20, 2005 A meeting of the Federal Open Market Committee was held in the offices of the Board of Governors of the Federal Reserve System in Washin
[2005-09-20] Release Date: September 20, 2005 For immediate release The Federal Open Market Committee decided today to raise its target for the federal funds rate by 25 basis points to 3-3/4 percent. Output appear
[2005-11-01] Release Date: November 1, 2005 For immediate release The Federal Open Market Committee decided today to raise its target for the federal funds rate by 25 basis points to 4 percent. Elevated energy pri
[2005-11-01] Minutes of the Federal Open Market Committee November 1, 2005 A meeting of the Federal Open Market Committee was held in the offices of the Board of Governors of the Federal Reserve System in Washingt
[2005-12-13] Minutes of the Federal Open Market Committee December 13, 2005 A meeting of the Federal Open Market Committee was held in the offices of the Board of Governors of the Federal Reserve System in Washing
[2005-12-13] Release Date: December 13, 2005 For immediate release The Federal Open Market Committee decided today to raise its target for the federal funds rate by 25 basis points to 4-1/4 percent. Despite elevat
[2005-12-13] You probably have talked enough about this but I found that slowness in the pace of hiring a little disturbing after what we've been through.
[2006-01-01] Spreads on risky private-sector debt reached very low levels, and damaging spillovers to the nonfinancial sector occurred in the form of unduly high real estate prices and excessive leverage by borrow
[2006-01-01] as a result, the announcement of the decision elicited little market reaction, as did the subsequent publication of the minutes of the meeting.
[2006-01-01] Nearly all measures of total and core prices had decelerated over the past year, and in the context of forecasts implying a continued sizable gap between actual and potential output, the risk that inf
[2006-01-01] over the next couple of years, the economy seemed poised to expand at a moderate rate in the neighborhood of its sustainable pace.
[2006-01-01] The Survey of Market Participants conducted by the Federal Reserve Bank of New York indicates a shift in expectations following the release of the new monetary policy framework.17 The median expected
[2006-01-01] sterling money market instruments implied that interest rate expectations were broadly flat over the next year or so.
[2006-01-01] equity prices, measured in local currency, had fallen a little in the united kingdom and in the euro area over the month, but had risen a little in the united states.
[2006-01-01] on the price front, international commodity prices declined in the period from the summer to the early autumn, but remained high in a situation where global demand was on an increasing trend.
[2006-01-01] one member noted that, looking at price movements in october by item, the number of items whose price change from a year earlier turned positive exceeded the number of items whose price change turned
[2006-01-01] With an increase in the target range at this meeting, the federal funds rate would be at or close to the lower end of the range of estimates of the longer-run neutral interest rate, and participants e
[2006-01-01] both interest rates and the exchange rate had fallen back after the minutes had been published on august 16.
[2006-01-01] The members also agreed on the desirability of retaining the assessment that the risks with regard to the outlook for economic growth were balanced.
[2006-01-01] (2) the government projected that the economic recovery supported by domestic private demand would continue, as resiliency in the corporate sector was extending into the household sector, and expected
[2006-01-01] members observed that the average growth rate for the world economy had been drifting up in recent years as the share of the world economy represented by the advanced economies declined and that of em
[2006-01-01] business expenditures on nonresidential structures also were seen to be advancing robustly in a number of markets, possibly providing some offset to reduced residential construction activity.
[2006-01-01] some expenditure by firms was probably in areas that were hard to measure, or on items that were as yet not counted as investment in the national accounts, so that perhaps the underlying picture was a
[2006-01-01] Much of the current spending for equipment and software reportedly represented replacement demand largely associated with the short useful lives of various types of equipment, and there appeared to be
[2006-01-01] apart from the japanese share market, which had shown little net change in 2006 following the sharp rise in 2005, most other countries' share markets had risen by 10–15 per cent this year.
[2006-01-01] Shortly after 9 a.m. each morning, the Desk staff and staff members at the Board of Governors confer over the phone to discuss their respective estimates of the day's demand for balances as well as to
[2006-01-01] adjusting for this, in underlying terms wages growth had remained stable at just over 4 per cent, having increased slowly from around 3 per cent over the past eight years.
[2006-01-01] Stock prices and existing home sales are somewhat correlated, a not altogether unexpected result, because each is affected by interest rates and presumably the gains from each help finance the other.
[2006-01-01] However, other measures of labor utilization--including the labor force participation rate and the numbers of discouraged workers and those working part time for economic reasons--suggested more modes
[2006-01-01] going forward, participants expected a deceleration in house prices to contribute to an increase in the household saving rate and to weigh on consumption growth.
[2006-01-01] votes for this action: messrs. greenspan and geithner, ms. bies, messrs. ferguson, guynn, kohn, lacker, and olson, mses.
[2006-01-01] September 01, 2020 Bringing the Statement on Longer-Run Goals and Monetary Policy Strategy into Alignment with Longer-Run Changes in the Economy Governor Lael Brainard At "How the Fed Will Respond to
[2006-01-01] exports of industrial supplies and consumer goods also rose strongly, while exports of services expanded modestly.
[2006-01-01] In Japan, private consumption rebounded strongly, and private investment and net exports continued to boost growth.
[2006-01-01] some members noted that interest rates on term instruments and long-term interest rates had also been stable.
[2006-01-01] The Summary of Economic Projections by FOMC participants in December 2020 had the unemployment rate moving down to 4.2 percent at the end of 2022 and inflation moving up to 2 percent only in 2023.
[2006-01-01] company analysts had continued to revise up their estimates for overall profit growth in the year ahead, though within the aggregate, estimates of profit growth of resource companies had been revised
[2006-01-01] Scholars disagree somewhat about the extent to which policymakers of the time tried actively to take advantage of this supposed tradeoff, but these ideas likely provided part of the intellectual ratio
[2006-01-01] In our FOMC statements, we have indicated we expect to maintain the target range at this level until we are confident that the economy has weathered recent events and is on track to achieve our maximu
[2006-01-01] While the underlying demand for residential housing continued to be robust and government outlays evidently were rising, the expansion of consumer spending seemed to have slowed, and outlays for capit
[2006-01-01] Faster productivity growth was among the factors that boosted equity valuations
[2006-01-01] This modal projection for the path of the unemployment rate is, according to the Atlanta Fed jobs calculator, consistent with a rebound in labor force participation to its estimated demographic trend
[2006-01-01] Moreover, theory and intuition tell us that monetary credibility will be greatest when the central bank does what it is supposed to do: offset economic shocks to keep price pressures from building and
[2006-01-01] wholesale prices edged up in March relative to their level of a year earlier and posted the first increase on a twelve-month basis since July 2000.
[2006-01-01] Consumer credit continued to increase at a steady pace, with similar growth rates across credit card, automobile, and student loans.
[2006-01-01] In our most recent monetary policy statementâ€”which was released following our January meetingâ€”we indicated that "with inflation well above 2 percent and a strong labor market," we expected that it
[2006-01-01] Stimulus checks put money in people's pockets, and when they spend it, there will be upward pressure on prices.
[2006-01-01] Another clear attempt at political interference emerged in February 1988 when an undersecretary of the Treasury sent a letter to Federal Reserve officials urging them to ease monetary policy.
[2006-01-01] resource shares had fallen in the month, reflecting concern about the possibility of a slowdown in the us and the wider implications that would flow from that, but other sectors of the share market ha
[2006-01-01] one member was of the view that there was no change in the uptrend in the cpi, because examination of the cpi excluding energy by goods and services showed that goods prices had been rising at a very
[2006-01-01] modest production increases in most manufacturing categories in december, including high-tech, consumer goods, and business equipment, outweighed production declines in the motor vehicles and parts se
[2006-01-01] This outcome would be entirely consistent with the new framework we adopted in August 2020 and began to implement at our September 2020 FOMC meeting.3 In our new framework, we aim for inflation outcom
[2006-01-01] building approvals, particularly for houses, were bottoming out in all states except western australia, where approvals continued to trend up.
[2006-01-01] Moreover, the resulting robust gains in labor productivity have been well ahead of compensation growth and have dramatically boosted corporate profits.
[2006-01-01] based on the above discussion, members concurred that the global economy as a whole was continuing to expand, with growth gaining breadth geographically.
[2006-01-01] Financial conditions continue to pose a downside risk to the outlook for growth.
[2006-01-01] a reduction in the attractiveness of home equity borrowing was mentioned as possibly contributing to the slowdown.
[2006-01-01] However, most participants judged that inflation would stabilize around the Committee's 2 percent objective over the medium term.
[2006-01-01] the upward trend was expected to continue as overseas economies continued to grow and domestic demand kept expanding.
[2006-01-01] Measures of inflation compensation based on TIPS fell in response to the soft reading on core inflation in the November CPI release
[2006-01-01] moreover, participants expressed concern that a failure of inflation to moderate as expected could entail significant costs if an upward drift in inflation expectations ensued.
[2006-01-01] Although I expect these upward price pressures to ease after the temporary supply bottlenecks are resolved, the exact timing of that dynamic is uncertain.
[2006-01-01] the government would like the bank to implement effective monetary policy that was consistent with the government's policy efforts and with its outlook for the economy while paying due consideration t
[2006-01-01] business sector debt advanced more slowly in the second quarter, although the expansion of business loans remained brisk and net issuance of corporate bonds was solid.
[2006-01-01] in turn, larger expected productivity advances and a lower cost of equity capital provided a further stimulus to investment.
[2006-01-01] Although in a number of sectors of the economy the imbalances between demand and supplyâ€”including labor supplyâ€”are substantial, I do continue to judge that these imbalances are likely to dissipate
[2006-01-01] they said that it was important that the bank explain carefully that the timing of any policy change depended on developments in economic activity and prices and that it had no predetermined view rega
[2006-01-01] Some participants also noted that recent readings on some survey measures of consumers' inflation expectations had declined or stood at historically low levels.
[2006-01-01] The members also agreed that the risks remained weighted mainly in the direction of greater inflation pressures and that further tightening actions might be necessary to bring about financial conditio
[2006-01-01] regarding the future path of monetary policy, members said that the bank would conduct monetary policy by carefully assessing economic activity and prices.
[2006-01-01] While the absence of increasing price inflation was a welcome development, members were concerned that the break with historical patterns might not persist.
[2006-01-01] the member continued that, despite this acceleration, the pace of increase in the money stock (m2+cds) was decelerating partly due to the ongoing shift of funds from bank deposits to other types of fi
[2006-01-01] The members agreed that the statement to be issued after this meeting should highlight their view that even after their firming today the risks remained weighted mainly in the direction of rising infl
[2006-01-01] although spending on high-tech capital goods and software expanded at a robust pace in the third quarter, data on new orders and shipments in october pointed to more moderate growth in the fourth quar
[2006-01-01] Nevertheless, most participants agreed that, although the level of inventories of unsold homes that homebuilders desired was uncertain, the correction of the housing sector was likely to continue to w
[2006-01-01] speeches by federal reserve officials, the minutes of the march meeting, and congressional testimony by the chairman combined to restrain policy expectations some.
[2006-01-01] the slack in the labour market would help to reduce the risk of the expected spike in inflation feeding into higher wages during the coming wage round.
[2006-01-01] Consumer credit jumped in May and remained strong in June, reflecting a rebound in credit card balances and continued robust growth in auto loans.
[2006-01-01] the rapid growth in house prices in perth over the past several years was quite different from that seen in the other capitals, where prices had been flat between the end of 2003 and the end of 2005 a
[2006-01-01] one of these members referred to the fact that there was an ongoing polarization of real estate prices between metropolitan and nonmetropolitan areas as well as within metropolitan areas.
[2006-01-01] Measures of inflation compensation based on Treasury Inflation-Protected Securities (TIPS) edged up, on net, remaining close to their pre-pandemic levels.
[2006-01-01] domestic nonfinancial sector debt appeared to have expanded at a somewhat slower pace in the fourth quarter, down from the rapid increase in the third quarter.
[2006-01-01] This monetary expansion could generate domestic inflation unless it is sterilized with other open market sales of securities--and the mere scale of present and expected future debt stocks may make con
[2006-01-01] prices of resource stocks were still noticeably below the peak in may, whereas prices of financial and industrial company stocks had mostly recovered the may peaks.
[2006-01-01] some members expressed the view that, as market participants tended to pay keen attention to developments in individual indicators such as the cpi, the bank should explain thoroughly that, in conducti
[2006-01-01] that weakness reflected a sharp fall in residential investment of nearly 5%.
[2006-01-01] In December, the consumer price index (CPI) rose somewhat faster than in recent months, primarily reflecting an upturn in consumer energy prices
[2006-01-01] If the public expects that inflation will remain low and stable over time, then, absent major shocks, it likely will.
[2006-01-01] The members expected price pressures to remain relatively contained over the next several quarters in the context of what they anticipated would be only a gradual reduction of the excess capacity in l
[2006-01-01] If so, GDP growth this calendar year could be the fastest since 1983.
[2006-01-01] However, it was noted that slower growth in productivity might have become the norm.
[2006-01-01] This outcome would be entirely consistent with the new framework the Federal Reserve unanimously adopted in August 2020 and began to implement at our September 2020 Federal Open Market Committee (FOMC
[2006-01-01] In July, the range for M3 had been raised by two percentage points to reflect developments that seemed to be fostering a return to the historical pattern of somewhat faster growth in M3 than in M2.
[2006-01-01] a few of these members expressed the view that, even if those factors were excluded, the pace of increase in machinery orders might be decelerating.
[2006-01-01] Indeed, an oft-quoted quip by economist Robert Solow held that, as of the late 1980s, "computers are everywhere except in the productivity statistics.
[2006-01-01] But this is largely accounted for by a convergence of inflation rates.
[2006-01-01] retail sales had increased by 0.6% in april and the retailers’ sales balance in the cbi distributive trades survey had risen further in may, to its highest level since the end of 2004.
[2006-01-01] although the price of natural gas had fallen because of continued plentiful inventories, retail gasoline prices surged, leading to a jump in overall energy prices for the month.
[2006-01-01] While there were no current indications that inflation might be accelerating and no policy move was called for at this time, the members saw a need for continuing vigilance.
[2006-01-01] Measures of longer-term inflation expectations edged up in early January, but remained lower than they had been in all but the last few weeks of 2008.
[2006-01-01] The September FOMC meeting was the first since the Committee approved in August our new Statement on Longer-Run Goals and Monetary Policy Strategy and adopted a new policy framework.3 The changes we m
[2006-01-01] Finally, while my assessment of maximum employment incorporates a wide range of indicators to assess the state of the labor marketâ€”including indicators of labor compensation, productivity, and price
[2006-01-01] Although not without some serious shortcomings, the published productivity data provide little encouragement to the view that there has been a significant improvement in underlying productivity growth
[2006-01-01] Another difficulty in assessing the current amount of slack in the economy, and a third uncertainty, concerns the divergent patterns in alternative measures of excess demand.
[2006-01-01] Moreover, investing in EMEs has become more attractive as many EMEs have improved their macroeconomic policies and institutional frameworks over recent decades; growth differentials may partly be refl
[2006-01-01] Moreover, the variance of GDP growth markedly lessened as inflation tumbled from its double-digit high in the early 1980s.
[2006-01-01] as for the employment and income situation, members agreed that labor market conditions continued to tighten and the number of employees, particularly full-time employees, continued to increase steadi
[2006-01-01] While these developments were positive, participants noted several factors that likely would continue to restrain the expansion in economic activity.