yusufizzetmurat/fed-pulse-embedding-caches huggingface dataset:
[2019-03-20] Daniel Cooper, Senior Economist and Policy Advisor, Federal Reserve Bank of Boston
[2019-03-20] "Information received since the Federal Open Market Committee met in January indicates that the labor market remains strong but that growth of economic activity has slowed from its solid rate in the f
[2019-03-20] The vote also encompassed approval of the statement below to be released at 2:00 p.m.:
[2019-03-20] Participants also discussed alternative interpretations of subdued inflation pressures in current economic circumstances and the associated policy implications. Several participants observed that limi
[2019-03-20] FOMC communications issued following the January meeting were generally viewed by market participants as more accommodative than expected. Subsequent communications--including the minutes of the Janua
[2019-03-20] Information received since the Federal Open Market Committee met in January indicates that the labor market remains strong but that growth of economic activity has slowed from its solid rate in the fo
[2019-03-20] 2. Attended through the discussion of developments in financial markets and open market operations. Return to text
[2019-03-20] Increases in total nonfarm payroll employment remained solid, on average, in recent months; employment rose only a little in February but had expanded strongly in January. The national unemployment ra
[2019-03-20] Participants continued to view a sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee's symmetric 2 percent objective as the most likely outcomes
[2019-03-20] Staff Economic Outlook The U.S. economic projection prepared by the staff for the March FOMC meeting was revised down a little on balance. This revision reflected the effects of weaker-than-expected i
[2019-03-20] The deputy manager provided an overview of money market developments and policy implementation over the intermeeting period. The effective federal funds rate (EFFR) continued to be very stable at a le
[2019-03-20] In their discussion of monetary policy decisions at the current meeting, participants agreed that it would be appropriate to maintain the current target range for the federal funds rate at 2-1/4 to 2-
[2019-03-20] A joint meeting of the Federal Open Market Committee and the Board of Governors was held in the offices of the Board of Governors of the Federal Reserve System in Washington, D.C., on Tuesday, March 1
[2019-03-20] In their consideration of the economic outlook, members noted that financial conditions had improved since the beginning of year, but that some time would be needed to assess whether indications of we
[2019-03-20] Roc Armenter,2 Kathryn B. Chen,2 Hesna Genay, Jonathan P. McCarthy, and Patricia Zobel,2 Vice Presidents, Federal Reserve Banks of Philadelphia, New York, Chicago, New York, and New York, respectively
[2019-03-20] In the commercial real estate (CRE) sector, financing conditions continued to be generally accommodative. Commercial mortgage-backed securities (CMBS) spreads declined over the intermeeting period, wi
[2019-03-20] It was agreed that the next meeting of the Committee would be held on Tuesday-Wednesday, April 30-May 1, 2019. The meeting adjourned at 10:00 a.m. on March 20, 2019.
[2019-03-20] Balance Sheet Normalization Committee participants resumed their discussion from the January 2019 meeting on options for transitioning to the longer-run size of the balance sheet. The staff described
[2019-03-20] Household spending looked to be slowing around the turn of the year. Real PCE decreased markedly in December after a solid increase in the previous month, and the components of the nominal retail sale
[2019-03-20] Yields on nominal Treasury securities declined a bit across the Treasury yield curve over the intermeeting period. Communications from FOMC participants that were more accommodative than expected amid
[2019-03-20] 1. The Federal Open Market Committee is referenced as the "FOMC" and the "Committee" in these minutes. Return to text
[2019-03-20] Shaghil Ahmed, Senior Associate Director, Division of International Finance, Board of Governors; Joshua Gallin and David E. Lebow, Senior Associate Directors, Division of Research and Statistics, Boar
[2019-03-20] In light of its discussions at previous meetings and the progress in normalizing the size of the Federal Reserve's securities holdings and the level of reserves in the banking system, all participants
[2019-04-10] The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on March 19-20, 2019. A summary of economic projections made by
[2019-04-10] The minutes for each regularly scheduled meeting of the Committee ordinarily are made available three weeks after the day of the policy decision and subsequently are published in the Board's Annual Re
[2019-04-10] Minutes of the Federal Open Market Committee March 19-20, 2019: HTML | PDF
[2019-04-10] FOMC minutes can be viewed on the Board's website at https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm
[2019-04-16] The Federal Reserve Board on Tuesday released the minutes of its interest rate meetings from February 25 through March 20, 2019.
[2019-05-01] Dana L. Burnett, Michele Cavallo, and Matthew Malloy,2 Section Chiefs, Division of Monetary Affairs, Board of Governors
[2019-05-01] Participants also discussed the financial stability implications that could be associated with alternative long-run target portfolio compositions. A couple of participants noted that a proportional po
[2019-05-01] The staff viewed the uncertainty around its projections for real GDP growth, the unemployment rate, and inflation as generally similar to the average of the past 20 years. The staff also saw the risks
[2019-05-01] Participants' Views on Current Conditions and the Economic Outlook Participants agreed that labor markets had remained strong over the intermeeting period and that economic activity had risen at a sol
[2019-05-01] Financing conditions for nonfinancial businesses remained generally accommodative during the intermeeting period. Gross issuance of corporate bonds was strong against a backdrop of narrower corporate
[2019-05-01] Members observed that a patient approach to determining future adjustments to the target range for the federal funds rate would likely remain appropriate for some time, especially in an environment of
[2019-05-01] In discussing the transition to the desired long-run SOMA portfolio composition, several participants noted that a gradual pace of transition could help avoid unwanted effects on financial conditions.
[2019-05-01] The staff presentation also considered illustrative gradual and accelerated transition paths to each long-run target portfolio. Under the illustrative "gradual" transition, reinvestments of maturing T
[2019-05-01] Industrial production edged down in March and for the first quarter overall. Manufacturing output declined moderately in the first quarter, primarily reflecting a decrease in the output of motor vehic
[2019-05-01] 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.
[2019-05-01] Brian J. Bonis,2 Lead Financial Institution and Policy Analyst, Division of Monetary Affairs, Board of Governors
[2019-05-01] The deputy manager also discussed a staff proposal in which the Board would implement a 5 basis point technical adjustment to the Interest on Required Reserves (IORR) and IOER rates. The proposed acti
[2019-05-01] Thomas I. Barkin, Raphael W. Bostic, and Mary C. Daly, Presidents of the Federal Reserve Banks of Richmond, Atlanta, and San Francisco, respectively
[2019-05-01] 4. Attended opening remarks for Tuesday session only. Return to text
[2019-05-01] The broad dollar index increased modestly, supported by the strength of U.S. economic data relative to foreign data and the accommodative tone from foreign central banks. The British pound declined ov
[2019-05-01] Global sovereign yields declined along with U.S. Treasury yields following the March FOMC meeting. Foreign equity prices increased, on balance, amid optimism around trade negotiations between the Unit
[2019-05-01] Growth in real private expenditures for business equipment and intellectual property slowed in the first quarter, reflecting both a slower increase in transportation equipment spending after a strong
[2019-05-01] In its Statement Regarding Monetary Policy Implementation and Balance Sheet Normalization, the Committee noted that it is prepared to adjust the size and composition of the balance sheet to achieve it
[2019-05-01] Total real government purchases increased in the first quarter. Real purchases by the federal government were unchanged, as a relatively strong increase in defense purchases was offset by a decline in
[2019-05-01] Notation Vote By notation vote completed on April 9, 2019, the Committee unanimously approved the minutes of the Committee meeting held on March 19–20, 2019.
[2019-05-01] The staff's forecast for inflation was revised down slightly, reflecting some recent softer-than-expected readings on consumer price inflation that were not expected to persist along with the staff's
[2019-05-01] 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
[2019-05-01] The vote also encompassed approval of the statement below to be released at 2:00 p.m.:
[2019-05-01] Participants agreed that labor market conditions remained strong. Job gains in the March employment report were solid, the unemployment rate remained low, and, while the labor force participation rate
[2019-05-01] Consumer credit conditions remained broadly supportive of growth in household spending, with all categories of consumer loans recording steady growth in the first quarter. According to the April SLOOS
[2019-05-01] Consistent with the Committee's decision to maintain the federal funds rate in a target range of 2-1/4 to 2-1/2 percent, the Board of Governors voted unanimously to lower the interest rates on require
[2019-05-01] Several factors appeared to spur this upward pressure. Tax-related runoffs in deposits at banks reportedly led banks to increase short-term borrowing, particularly through Federal Home Loan Bank (FHLB
[2019-05-01] 1. The Federal Open Market Committee is referenced as the "FOMC" and the "Committee" in these minutes. Return to text
[2019-05-01] Participants discussed the potential policy implications of continued low inflation readings. Many participants viewed the recent dip in PCE inflation as likely to be transitory, and participants gene
[2019-05-01] Effective May 2, 2019, the Committee directs the Desk to roll over at auction the amount of principal payments from the Federal Reserve's holdings of Treasury securities maturing during each calendar
[2019-05-01] Developments in Financial Markets and Open Market Operations The manager of the SOMA reviewed developments in financial markets over the intermeeting period. In the United States, prices for equities
[2019-05-01] In their discussion of the household sector, participants discussed recent indicators, including retail sales and light motor vehicle sales for March, which rose from relatively weak readings in some
[2019-05-01] The TGA was volatile during the intermeeting period. In early April, the Treasury reduced bill issuance and allowed the TGA balance to fall in anticipation of individual tax receipts. As tax receipts
[2019-05-01] Participants commented on risks associated with their outlook for economic activity over the medium term. Some participants viewed risks to the downside for real GDP growth as having decreased, partly
[2019-05-01] In discussing developments in financial markets, a number of participants noted that financial market conditions had improved following the period of stress observed over the fourth quarter of last ye
[2019-05-01] Eric C. Engstrom, Deputy Associate Director, Division of Monetary Affairs, and Adviser, Division of Research and Statistics, Board of Governors
[2019-05-01] Patricia Zobel,2 Vice President, Federal Reserve Bank of New York
[2019-05-01] The nominal U.S. international trade deficit narrowed significantly in January and a touch more in February. After declining in December, the value of U.S. exports rose in January and February. Howeve
[2019-05-01] Evan F. Koenig, Antoine Martin,2 Samuel Schulhofer-Wohl, Mark L.J. Wright, and Nathaniel Wuerffel,2 Senior Vice Presidents, Federal Reserve Banks of Dallas, New York, Chicago, Minneapolis, and New Yor
[2019-05-01] Linda Robertson, Assistant to the Board, Office of Board Members, Board of Governors
[2019-05-01] The manager concluded the briefing on financial market developments and open market operations with a review of the role of standing swap lines in supporting financial stability. He recommended that t
[2019-05-01] In their discussion of a shorter maturity portfolio, many participants noted the advantage of increased capacity for the Federal Reserve to conduct an MEP, which could be helpful in providing policy a
[2019-05-01] With regard to the postmeeting statement, members agreed to remove references to a slowing in the pace of economic growth and little-changed payroll employment, consistent with stronger incoming infor
[2019-05-01] A technical adjustment would reduce the spread between the IOER rate and the ON RRP offering rate to 10 basis points, the smallest since the introduction of the ON RRP facility. The staff judged that
[2019-05-01] Major U.S. equity price indexes increased over the intermeeting period, with the S&P 500 equity index returning to the levels it reached before its decline in the last quarter of 2018. Following the M
[2019-05-01] In their discussion of a proportional portfolio composition, participants observed that moving to this target SOMA composition would not be expected to have much effect on current staff estimates of t
[2019-05-01] Information received since the Federal Open Market Committee met in March indicates that the labor market remains strong and that economic activity rose at a solid rate. Job gains have been solid, on
[2019-05-01] The Committee voted unanimously to renew the reciprocal currency arrangements with the Bank of Canada and the Bank of Mexico; these arrangements are associated with the Federal Reserve's participation
[2019-05-01] Robert J. Tetlow, Senior Adviser, Division of Monetary Affairs, Board of Governors
[2019-05-01] Consumer expenditures slowed in the first quarter, but monthly data suggested some improvement toward the end of the quarter. Real PCE increased at a robust pace in March after having been unchanged i
[2019-05-01] A joint meeting of the Federal Open Market Committee and the Board of Governors was held in the offices of the Board of Governors of the Federal Reserve System in Washington, D.C., on Tuesday, April 3
[2019-05-01] Jon Faust, Senior Special Adviser to the Chair, Office of Board Members, Board of Governors
[2019-05-01] Justin Meyer,2 Markets Manager, Federal Reserve Bank of New York
[2019-05-01] Jerome H. Powell, Chair John C. Williams, Vice Chair Michelle W. Bowman Lael Brainard James Bullard Richard H. Clarida Charles L. Evans Esther L. George Randal K. Quarles Eric Rosengren
[2019-05-01] David C. Wheelock, Group Vice President, Federal Reserve Bank of St. Louis
[2019-05-01] "Effective May 2, 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 perce
[2019-05-01] James M. Trevino,2 Senior Technology Analyst, Division of Monetary Affairs, Board of Governors
[2019-05-01] Voting for the FOMC monetary policy action were: Jerome H. Powell, Chair; John C. Williams, Vice Chair; Michelle W. Bowman; Lael Brainard; James Bullard; Richard H. Clarida; Charles L. Evans; Esther L
[2019-05-01] Financing conditions for the commercial real estate (CRE) sector remained accommodative, and issuance of agency and non-agency commercial mortgage backed securities grew steadily. CRE loans on banks'
[2019-05-01] James A. Clouse, Secretary Matthew M. Luecke, Deputy Secretary David W. Skidmore, Assistant Secretary Michelle A. Smith, Assistant Secretary Mark E. Van Der Weide, General Counsel Michael Held, Deputy
[2019-05-01] Minutes of the Federal Open Market Committee A joint meeting of the Federal Open Market Committee and the Board of Governors was held in the offices of the Board of Governors of the Federal Reserve Sy
[2019-05-01] Shaghil Ahmed and Christopher J. Erceg,4 Senior Associate Directors, Division of International Finance, Board of Governors; William F. Bassett, Senior Associate Director, Division of Financial Stabili
[2019-05-01] Several participants expressed the view that a decision regarding the long-run composition of the portfolio would not need to be made for some time, and a couple of participants highlighted the import
[2019-05-01] In their discussion of monetary policy, participants agreed that it would be appropriate to maintain the current target range for the federal funds rate at 2-1/4 to 2-1/2 percent. Participants judged
[2019-05-01] David H. Small, Project Manager, Division of Monetary Affairs, Board of Governors
[2019-05-01] The staff provided an update on its assessments of potential risks to financial stability. The staff judged asset valuation pressures in equity and corporate debt markets to have increased significant
[2019-05-01] Participants observed that inflation pressures remained muted and that the most recent data on overall inflation, and inflation for items other than food and energy, had come in lower than expected. A
[2019-05-01] Glenn Follette, Assistant Director, Division of Research and Statistics, Board of Governors; Laura Lipscomb2 and Zeynep Senyuz,2 Assistant Directors, Division of Monetary Affairs, Board of Governors
[2019-05-01] Total U.S. consumer prices, as measured by the PCE price index, increased 1.5 percent over the 12 months ending in March. This increase was somewhat slower than a year earlier, as core PCE price infla
[2019-05-01] Update from Subcommittee on Communications Governor Clarida reported on the progress of the review of the Federal Reserve's strategic framework for monetary policy. Fed Listens events to hear stakehol
[2019-05-01] Participants noted that growth of business fixed investment had moderated in the first quarter relative to the average pace recorded last year and discussed whether this more moderate growth was likel
[2019-05-01] Participants continued to view sustained expansion of economic activity, with strong labor market conditions, and inflation near the Committee's symmetric 2 percent objective as the most likely outcom
[2019-05-01] Brian M. Doyle,3 Wendy E. Dunn, Ellen E. Meade, and John M. Roberts, Special Advisers to the Board, Office of Board Members, Board of Governors
[2019-05-01] 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
[2019-05-01] Yields on nominal Treasury securities declined modestly, on net, during the intermeeting period. Investors cited larger-than-expected downward revisions in FOMC participants' assessments of the future
[2019-05-01] Matthew J. Eichner,2 Director, Division of Reserve Bank Operations and Payment Systems, Board of Governors; Michael S. Gibson, Director, Division of Supervision and Regulation, Board of Governors; And
[2019-05-01] In their consideration of the economic outlook, members noted that financial conditions had improved since the turn of the year, and many uncertainties affecting the U.S. and global economic outlooks
[2019-05-01] The deputy manager reviewed developments in domestic money markets. Reserve balances declined by $150 billion over the intermeeting period and reached a low point of just below $1.5 trillion on April
[2019-05-01] After assessing current conditions and the outlook for economic activity, the labor market, and inflation, members decided to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 per
[2019-05-01] Among those participants who commented on financial stability, most highlighted recent developments related to leveraged loans and corporate bonds as well as the current high level of nonfinancial cor
[2019-05-01] Real residential investment declined at a slower rate in the first quarter than it did over the course of 2018. After an appreciable uptick in January, starts of new single-family homes fell in Februa
[2019-05-01] Total nonfarm payroll employment recorded a strong gain in March, and the unemployment rate held steady at 3.8 percent. The labor force participation rate declined a little in March after having risen
[2019-05-01] Randall A. Williams, Senior Information Manager, Division of Monetary Affairs, Board of Governors
[2019-05-01] Communications following the March FOMC meeting were generally viewed by investors as having a more accommodative tone than expected. The market-implied path for the federal funds rate shifted downwar
[2019-05-01] Juan M. Londono, Principal Economist, Division of International Finance, Board of Governors; Camelia Minoiu and Bernd Schlusche, Principal Economists, Division of Monetary Affairs, Board of Governors
[2019-05-01] Kartik B. Athreya, Michael Dotsey, Sylvain Leduc, and Ellis W. Tallman, Executive Vice Presidents, Federal Reserve Banks of Richmond, Philadelphia, San Francisco, and Cleveland, respectively
[2019-05-01] Ann E. Misback, Secretary, Office of the Secretary, Board of Governors
[2019-05-01] Staff Review of the Economic Situation The information available for the April 30–May 1 meeting indicated that labor market conditions remained strong and that real gross domestic product (GDP) increa
[2019-05-01] Patrick Harker, Robert S. Kaplan, Neel Kashkari, Loretta J. Mester, and Michael Strine, Alternate Members of the Federal Open Market Committee
[2019-05-01] 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
[2019-05-01] The manager also reported on developments related to open market operations. In light of the declines in interest rates since November last year, principal payments on the Federal Reserve's holdings o
[2019-05-01] Foreign economic growth in the first quarter was mixed. Among the emerging market economies (EMEs), real GDP contracted in South Korea and Mexico, but activity in China strengthened, supported by tax
[2019-05-01] Rochelle M. Edge, Eric M. Engen, Anna Paulson, Geoffrey Tootell, William Wascher, Jonathan L. Willis, and Beth Anne Wilson, Associate Economists
[2019-05-01] Ron Feldman, First Vice President, Federal Reserve Bank of Minneapolis
[2019-05-01] Balance Sheet Normalization Participants resumed their discussion of issues related to balance sheet normalization with a focus on the long-run maturity composition of the System Open Market Account (
[2019-05-01] In determining the timing and size of future adjustments to the target range for the federal funds rate, the Committee will assess realized and expected economic conditions relative to its maximum emp
[2019-05-01] Marnie Gillis DeBoer, Associate Director, Division of Monetary Affairs, Board of Governors; John J. Stevens, Associate Director, Division of Research and Statistics, Board of Governors
[2019-05-01] Committee Policy Action In their discussion of monetary policy for the period ahead, members judged that the information received since the Committee met in March indicated that the labor market remai
[2019-05-01] It was agreed that the next meeting of the Committee would be held on Tuesday–Wednesday, June 18–19, 2019. The meeting adjourned at 9:50 a.m. on May 1, 2019.
[2019-05-01] Staff Economic Outlook The projection for U.S. economic activity prepared by the staff for the April–May FOMC meeting was revised up on net. Real GDP growth was forecast to slow in the near term from