yusufizzetmurat/fed-pulse-embedding-caches huggingface dataset:
[2017-01-01] as regards communication, members widely agreed on the need to emphasise that, in view of the prevailing outlook for price stability and the surrounding risks, the extension of the app was warranted t
[2017-01-01] the bank expects global gdp growth to increase from 3 1/4 per cent this year to about 3 1/2 per cent in 2018 and 2019.
[2017-01-01] members discussed the importance of understanding the evolution of demographic factors and foreign demand for interpreting developments in housing markets across states.
[2017-01-01] this, together with improvements in business survey output and expectations indicators, had led bank staff to raise their gdp growth nowcast for 2017 q1 to 0.5%, also 0.2 percentage points higher than
[2017-01-01] uncertainty about the global outlook is undiminished, particularly with respect to policies in the united states.
[2017-01-01] a few participants expressed concerns about the possibility of substantially overshooting full employment, with one citing past difficulties in achieving a soft landing.
[2017-01-01] the us economy was tepid in the first quarter of 2017 but is now growing at a solid pace, underpinned by a robust labour market and stronger investment.
[2017-01-01] the factors behind soft inflation appear to be mostly temporary, including heightened food price competition, electricity rebates in ontario, and changes in automobile pricing.
[2017-01-01] nonetheless, as on previous occasions, the observation was made that despite the recovery in credit to the private sector, credit dynamics remained modest overall.
[2017-01-01] Al­though core inflation and the 12-month trimmed mean PCE inflation rate calculated by the Federal Reserve Bank of Dallas remained a little below 2 percent, many participants anticipated that high le
[2017-01-01] underlying inflation had picked up a little and had been slightly higher than forecast, but the increase in headline inflation had been smaller than forecast.
[2017-01-01] growth was temporarily boosted by a resumption of spending in the oil and gas sector and the effects of the canada child benefit on consumer spending.
[2017-01-01] yields on longer-dated treasury securities rose late in the period following comments by federal reserve officials.
[2017-01-01] risks related to some international political developments had also increased over the preceding six months, although markets had generally reacted in an orderly manner so far.
[2017-01-01] the bank’s governing council acknowledges the strength of recent data, some of which is temporary, and is mindful of the significant uncertainties weighing on the outlook.
[2017-01-01] An easing of supply constraints was expected to support continued gains in economic activity and employment as well as a reduction in inflation.
[2017-01-01] moreover, broader measures of labour underutilisation, which took into consideration groups that are marginally attached to the labour market, such as discouraged workers, and the underemployed, point
[2017-01-01] although wage growth had been a little lower than expected in the september quarter, it appeared to have stabilised at a low rate.
[2017-01-01] this included, in particular, its preparedness to adjust the purchase programme in terms of size and/or duration should the outlook become less favourable, or should financial conditions become incons
[2017-01-01] excluding food and energy, hicp inflation had decreased slightly, from 1.2% in august to 1.1% in september.
[2017-01-01] the bank, in accordance with the short-term policy interest rate of minus 0.1 percent and the target level of the long-term interest rate, both decided at the previous meeting on april 26 and 27, 2017
[2017-01-01] several others thought that progress in achieving the Committee's inflation objective might lag if further appreciation of the dollar continued to depress non-energy commodity prices or if inflation w
[2017-01-01] meanwhile, export growth has been uneven in the face of ongoing competitiveness challenges.
[2017-01-01] Some have been concerned that the Federal Reserve and the Treasury might be working at cross purposes today to the extent that reductions in the Treasury debt supply have lead to declines in longer-te
[2017-01-01] housing prices in perth and apartment prices in brisbane had fallen further.
[2017-01-01] while observing that there were typically lags between labour markets tightening and wage pressures emerging, members noted that the wage data might suggest these economies had more spare capacity tha
[2017-01-01] twelve-month cpi inflation had fallen to 2.6% in june, from 2.9% in may, in line with the committee’s expectation at the time of the may inflation report.
[2017-01-01] longer-term inflation expectations in the euro area remained broadly unchanged from the 26-27 april governing council meeting, with the five-year forward inflation-linked swap rate five years ahead ha
[2017-01-01] Some occasions call for significant swings in currency or reserves because of seasonal demands for cash and loans.
[2017-01-01] many of these economies are highly integrated into global production chains, which had recently been evident in a sharp pick-up in their exports of electronic items.
[2017-01-01] the member then expressed the recognition that, if the current pace of purchases continued, however, the bank could not avoid a situation where jgb purchases would become more difficult through 2018.
[2017-01-01] (1) the application of budget requests for fiscal 2018 was closed on august 31, 2017, and the government would proceed with the budget formulation toward the year-end.
[2017-01-01] members noted that financial markets had generally experienced low volatility over preceding months.
[2017-01-01] On average, over the period from November 2020 to January 2021, the fraction of prime-age women with children aged 6 to 17 who were out of the labor force for caregiving had increased by 2.4 percentag
[2017-01-01] it had risen since the november inflation _report, partly as a result of_ progress in those negotiations.
[2017-01-01] however, the authorities' goal of allowing the market to play a ‘decisive role’ in allocating resources was still some way from being realised.
[2017-01-01] members noted that the strength of recent labour market data had removed some of the downside risk in the bank's forecast of wage growth.
[2017-01-01] While these studies allow for differences in the weighting of price indexes across different income groups, they rely on the same elementary price indexes for subcategories of goods and services.
[2017-01-01] thereafter, they were projected to continue increasing moderately, as the growth rates of overseas economies were likely to rise, albeit with fluctuations resulting mainly from the subsequent decline
[2017-01-01] the bank is also mindful that global structural factors could be weighing on inflation in canada and other advanced economies.
[2017-01-01] During much of the recovery, forecasters have been overly optimistic about growth
[2017-01-01] if the outlook became less favourable, or if financial conditions became inconsistent with further progress towards a sustained adjustment in the path of inflation, the governing council stood ready t
[2017-01-01] real business investment continued its cyclical recovery broadly in line with gdp growth.
[2017-01-01] this implies a return to full capacity around mid-2018, in line with october’s projection.
[2017-01-01] consumer confidence indicators had continued to improve, and were approaching or had exceeded pre-crisis peaks in a number of euro area countries.
[2017-01-01] some members pointed out that the cai -- calculated by the bank by combining various sales and supply-side statistics -- had continued to rise moderately since summer 2016.
[2017-01-01] cpi inflation has eased in recent months and the bank’s three measures of core inflation all remain below 2 per cent.
[2017-01-01] While the current episode has not yet concluded, it appears that, responding vigorously in a relatively flexible economy to the aftermath of bubbles, as traumatic as that may be, is less inhibiting to
[2017-01-01] The shift in the stance of monetary policy that we undertook in 2019 was, I believe, well timed and has been providing support to the economy and helping to keep the U.S. outlook on track.
[2017-01-01] Median inflation in the nine countries likewise declined, averaging 9-1/2 percent in 1995-99 and 5 percent in 2000-04.Return to text 4.
[2017-01-01] During the 1980s and 1990s, the Federal Reserve succeeded in bringing inflation down from double-digit levels to the average rate of about 2 percent that has prevailed over the past decade.
[2017-01-01] the level of corporate debt in china was particularly high for the country's stage of economic development.
[2017-01-01] As a case in point, the increase in the transparency of U.S. monetary policy over the past two decades has been quite significant.
[2017-01-01] They also generally expected that further gradual increases in the target range for the federal funds rate would be consistent with sustained expansion of economic activity, strong labor market condit
[2017-01-01] the consumer price index (cpi) rose 2-1/4 percent over the 12 months ending in september, while core cpi inflation was 1-3/4 percent.
[2017-01-01] average longer-term inflation expectations, which referred to 2022, had been revised up slightly, to 1.9%.
[2017-01-01] only the part of the overall bond repayments that exceeded the month’s cap would be reinvested.
[2017-01-01] moreover, since investors now expected higher yields in the united states, there may have been a general reluctance by private investors to take duration risk, which further added to the demand for sh
[2017-01-01] in the financial sector, continued progress was needed in addressing non-performing loans and ensuring adequate capital positions.
[2017-01-01] similarly, employment would be temporarily depressed by the hurricanes, but, abstracting from those effects, employment gains were anticipated to remain solid, and the unemployment rate was expected t
[2017-01-01] nevertheless, recent data on foreign industrial production and trade seemed to be stronger than private analysts had anticipated and were consistent with moderate economic growth abroad.
[2017-01-01] market financing and bank borrowing costs for firms and households had remained very favourable and supportive of euro area credit flows, and credit conditions had loosened further.
[2017-01-01] May 21, 2020 U.S. Economic Outlook and Monetary Policy Vice Chair Richard H. Clarida At the New York Association for Business Economics, New York, New York (via webcast) Share Accessible Keys for Vide
[2017-01-01] one member, noting that china's producer prices had been on an increasing trend, expressed the recognition that it was necessary to examine whether this suggested that the worldwide disinflationary tr
[2017-01-01] governing council judges that the current outlook warrants today’s withdrawal of some of the monetary policy stimulus in the economy.
[2017-01-01] this amount might also change over time, reflecting changes in market interest rates relative to the dfr.
[2017-01-01] conditions in established housing markets in sydney and melbourne remained robust, but housing prices had been falling in perth.
[2017-01-01] housing and consumption are forecast to slow in light of policy changes affecting housing markets and higher interest rates.
[2017-01-01] the bank will continue to analyze short-term inflation fluctuations to determine the extent to which it remains appropriate to look through them.
[2017-01-01] meanwhile, the canadian dollar has strengthened along with the us dollar against other currencies, exacerbating ongoing competitiveness challenges and muting the outlook for exports.
[2017-01-01] As was highlighted by the Bureau of Labor Statistics, this figure likely understates the extent of unemployment; accounting for the unusually large number of workers who reported themselves as employe
[2017-01-01] this suggests that there could be room for more economic growth than the bank is projecting without inflation rising materially above target.
[2017-01-01] In addition, to address the sizable demand for dollar funding in foreign jurisdictions, the FOMC authorized the expansion of its existing swap lines with the European Central Bank and Swiss National B
[2017-01-01] looking ahead, the outlook for headline inflation was expected to be more subdued than previously anticipated.
[2017-01-01] a couple of participants noted the need to continue to monitor and evaluate the effects of balance sheet normalization on long-term interest rates and economic performance.
[2017-01-01] in the context of a projection that is largely unchanged, the bank’s governing council judges that the current stance of monetary policy is still appropriate and maintains the target for the overnight
[2017-01-01] What we really mean is that we would look at—we know that inflation will move around on both sides of the target, and what we say is that we would be equally concerned with inflation persistently abov
[2017-01-01] one member said that, due to the tightening of labor market conditions, an increasing number of firms would raise wages of regular employees with the aim of securing the labor force and improve labor
[2017-01-01] however, members noted that the new us administration might introduce more restrictive policies on trade and immigration, which would pose significant downside risks to the forecast for global growth.
[2017-01-01] with regard to the global standard, these members noted that major economies pursuing the same rate of inflation also would facilitate the stability of exchange rates in the long term.
[2017-01-01] it was also considered to be a positive sign that the probability of deflation had decreased further.
[2017-01-01] combined with the indications from more timely survey data, retail spending was likely to rise modestly over the third quarter as a whole.
[2017-01-01] in terms of the outlook for prices, most members shared the view that the year-on-year rate of change in the cpi was likely to turn slightly positive and thereafter would continue on an uptrend and in
[2017-01-01] market participants attributed some of the recent decline in market repo rates to a reduction in the supply of treasury bills in advance of the reinstatement of the statutory debt limit on march 16.
[2017-01-01] the fomc had also outlined some details regarding the plan for a gradual and predictable reduction in the federal reserve's balance sheet, which is expected to begin later this year.
[2017-01-01] regarding risks to developments in overseas economies, members shared the recognition that uncertainties remained high, including those over u.s. economic policy, negotiations on the united kingdom's
[2017-01-01] Millions of new jobs have been created in the last few years; and unemployment, now at 4.3 percent, has been at or below 5 percent for over two years.
[2017-01-01] a few participants attributed the recent equity price appreciation to expectations for corporate tax cuts or to increased risk tolerance among investors rather than to expectations of stronger economi
[2017-01-01] As a policymaker, I can assure you that any model of inflation that did not take account of these effects, and how they might or might not affect ongoing rates of inflation, would have been of little
[2017-01-01] The severity of the 1981-82 recession, the worst of the postwar period, clearly illustrates the danger of letting inflation get out of control.
[2017-01-01] employment growth had been running well above growth in the working-age population and, in preceding months, had been concentrated in full-time employment.
[2017-01-01] employment had increased by 0.3% quarter on quarter in the fourth quarter of 2016 and the unemployment rate continued to decline, easing to 9.5% in february 2017 after 9.6% in january.
[2017-01-01] it was thus seen as important to stress that the economic expansion had strengthened and that risks to the growth outlook were broadly balanced.
[2017-01-01] changes in the expected future path of short-term interest rates might have helped to offset this upward pressure on bond yields over previous weeks, as market participants had been backtracking on th
[2017-01-01] external financing flows to euro area nfcs had strengthened overall in the fourth quarter of 2016, driven by robust developments in bank lending and market-based financing in october and november.
[2017-01-01] the labour market had continued to improve, with unemployment declining steadily and a recovery now taking place in the housing and construction sectors.
[2017-01-01] the year-on-year rate of change in the cpi is likely to continue on an uptrend and increase toward 2 percent, mainly on the back of an improvement in the output gap and a rise in medium- to long-term
[2017-01-01] taking into account all of the available information, and the need to balance the risks associated with high household debt in a low-inflation environment, the board judged that holding the stance of
[2017-01-01] commenting on measures of underlying inflation, members agreed that there were not yet convincing signs of a sustained convergence towards levels compatible with the ecb’s inflation aim.
[2017-01-01] On the other hand, the fact that productivity growth has remained solid in recent years increases confidence that a larger fraction of those productivity gains reflects longer-term developments and a
[2017-01-01] federal and provincial fiscal measures are still expected to support growth in 2017.
[2017-01-01] Major reasons for optimism about the outlook were the substantial easing in monetary policy, whose lagged effects would be felt increasingly in the year ahead, and the fiscal stimulus measures that al
[2017-01-01] in their assessment of the overall monetary policy stance, members broadly agreed that the inflation outlook and the risks surrounding it warranted keeping a very substantial degree of monetary accomm
[2017-01-01] their ongoing pass-through supported the economic upturn, which was steadily firming and broadening across sectors.
[2017-01-01] Some saw a risk that inflationary pressures might develop more rapidly than currently anticipated as resource utilization tightened,
[2017-01-01] with respect to yield curve control, members shared the view that, since the previous meeting, the jgb yield curve had been formed smoothly in a manner consistent with the guideline for market operati
[2017-01-01] the committee continues to expect that, with gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace, and labor market conditions will strengthen somewha
[2017-01-01] the tightening had flowed through to increased corporate bond spreads; recent bond issuance in china had been weak after a sustained period of strength, although yields had remained low.
[2017-01-01] and in energy-producing regions, the count of drilling rigs in operation had begun to level off before the onset of hurricane harvey.
[2017-01-01] a question was raised regarding the extent to which euro area economic growth could accelerate further from the current pace on a sustained basis.
[2017-01-01] In general, financial markets were viewed as well positioned to support more vigorous expansion in economic activity.
[2017-01-01] members noted, however, that this did not change the bank's assessment of how inflationary pressures were likely to evolve in the forecast period.
[2017-01-01] the pass-through of the monetary policy measures in place since june 2014 continued to support favourable borrowing conditions for firms and households, access to financing – notably for small and med
[2017-01-01] Several participants noted ongoing challenges in the agricultural sector, including those associated with increased trade uncertainty, weak export demand, and the effects of wet weather and severe flo
[2017-01-01] however, wage and other data indicate that there is still slack in the labour market.
[2017-01-01] In furtherance of these objectives, the Committee at this meeting established ranges for growth of M2 and M3 of 1 to 5 percent and 2 to 6 percent respectively, measured from the fourth quarter of 1998
[2017-01-01] however, apart from the energy and health care sectors, price inflation had remained relatively subdued, evidently reflecting the combination of diminished growth in overall demand and strong competit
[2017-01-01] They also agreed that the war and related events were creating additional upward pressure on inflation and were weighing on global economic activity.
[2017-01-01] As a monetary policy maker, I am interested in these links because the prices of financial assets affect the spending decisions of firms and households and because these prices may reveal forward-look
[2017-01-01] in the past, such a dip in the housing market had tended to go hand-in-hand with a softening in consumption growth.
[2017-01-01] euro area equity prices had declined slightly since the july monetary policy meeting.
[2017-01-01] in contrast to the united states, canada’s economy continues to operate with material excess capacity.
[2017-01-01] looking more closely at the factors behind the lower rate of underlying inflation, the decline was viewed as being related to significant calendar effects in several countries, reflecting the decelera
[2017-01-01] the euro area and japanese economies had grown faster than their potential growth rates over 2016, resulting in further improvements in labour market conditions.
[2017-01-01] During most of the recent episode, monetary policy broadly followed the Taylor Rule prescription, while holding the nominal federal funds rate about unchanged.
[2017-01-01] the terms of trade had declined in the june quarter, reflecting lower bulk commodity prices.
[2017-01-01] however, iron ore prices had fallen since late march, which suggested that the australian terms of trade were still likely to decline in the period ahead from their recent highs.
[2017-01-01] As a consequence of these higher real interest rates, the ratio of net worth to income for the average household is already lower than it was earlier this year.
[2017-01-01] a different member said that it was possible that it would take some time to achieve the price stability target, and therefore ensuring the sustainability of the policy was likely to become increasing
[2017-01-01] a couple of participants had received indications from contacts that business investment spending in their districts might strengthen.
[2017-01-01] Earlier in the year, as you will all recall, after careful study over a period of years, actually, the Committee announced the decision to implement monetary policy in an ample-reserves regime.
[2017-01-01] White-collar, high-skilled employment increased at a much faster rate than employment in the other categories in nearly all cases in the G-7 countries over 1979-95.
[2017-01-01] above-potential growth is becoming more widespread in the euro area.
[2017-01-01] broad agreement was expressed among members to maintain the forward guidance on interest rates unchanged, as proposed by mr praet in his introduction.
[2017-01-01] By the way, we’re also not at maximum employment, as I mentioned.
[2017-01-01] recent data had pointed to subdued price pressures across the economy in the june quarter.
[2017-01-01] a different member expressed the view that the tightening of labor market conditions observed across a wide range of regions, firm sizes, and industries had been underpinning an improvement in consume
[2017-01-01] one-month-ahead option-implied volatility on the s&p 500 index--the vix--rose appreciably in mid-april, reflecting in part increased investor concerns about geopolitical factors and foreign political
[2017-01-01] high frequency indicators had also pointed to stronger, broad-based momentum in the near term, leading bank staff to revise up their expectation for growth in 2017 q1, to 0.5%.
[2017-01-01] The second requirement contributes to the first and also to smoothing fluctuations in output around full employment.