yusufizzetmurat/fed-pulse-embedding-caches huggingface dataset:
[2015-01-01] this was consistent with the economic and financial exposures to greece – apart from the official sector's financial exposure – being quite low.
[2015-01-01] in addition, a recovery of price pressures along the pricing chain, such as those due to producer prices, was likely to materialise.
[2015-01-01] as regards long-term inflation expectations in the euro area, both survey and market-based measures had moved up slightly.
[2015-01-01] in japan, gdp had been revised down and was estimated to have fallen by 0.5% in 2014 q3.
[2015-01-01] all in all, members agreed that the economic recovery was taking shape in line with the governing council’s earlier expectations and with the june eurosystem staff projections.
[2015-01-01] the question was posed as to whether the strong rebound in the economy, in part also as a result of monetary policy measures, was fully consistent with the underlying financial market assumptions, sin
[2015-01-01] the cpi had increased by 0.1 per cent in the quarter (in seasonally adjusted terms) and by 1.5 per cent over the year.
[2015-01-01] tradables inflation (excluding volatile items and tobacco) had picked up in response to the depreciation of the australian dollar over the past year or so.
[2015-01-01] housing price growth remained strongest in sydney and to a lesser extent melbourne, while price rises in other parts of the country had been more modest and prices had even declined in some cities rec
[2015-01-01] the stock of non-residential building work yet to be done had fallen further in the june quarter but was still around its decade-average as a share of gdp, and approvals for new work remained low.
[2015-01-01] oil’s sharp decline in the past six months is expected to boost global economic growth, especially in the united states, while widening the divergences among economies.
[2015-01-01] the supplementary budget would thoroughly incorporate, for example, measures that should be urgently implemented -- taking into account the urgent policies to realize a society in which all citizens a
[2015-01-01] There’s a lot more demand for risk sharing, for liquidity services, and so on.
[2015-01-01] I think that keeping interest rates low is still appropriate for our economy.
[2015-01-01] market-based measures of inflation compensation had risen slightly but remained low.
[2015-01-01] based on these discussions, members shared the recognition that inflation expectations appeared to be rising on the whole from a somewhat longer-term perspective.
[2015-01-01] in order to make further strides toward developing an environment conducive to wage increases in small and medium-sized enterprises, the government-labor-management meeting for realizing a positive cy
[2015-01-01] this was 0.1 percentage points weaker than bank staff had anticipated immediately before the data release, and 0.3 percentage points weaker than the february inflation report projection.
[2015-01-01] the member continued that, therefore, the member could not agree with the view that the bank should moderate the pace of qqe because the output gap had been around zero.
[2015-01-01] it was therefore likely that the recent slowdown reflected a combination of both structural and cyclical factors.
[2015-01-01] if anything, slightly less of the consolidation was now planned during the committee’s three-year forecast period, with correspondingly more after that.
[2015-01-01] market-based measures of inflation compensation remain low; some survey-based measures of longer-term inflation expectations have edged down.
[2015-01-01] prior to its policy meeting, the mpc had been consulted ahead of the decisions by the bank and hm treasury to extend access to the funding for lending scheme (fls) until early 2018.
[2015-01-01] regarding monetary and financial conditions, the eonia forward curve had remained at values close to zero for the past few months at very short maturities, while it had declined further at longer matu
[2015-01-01] mining investment had continued to fall in the june quarter and now accounted for around 5 per cent of nominal gdp, down from a peak of around 8 per cent.
[2015-01-01] We expect the economy will continue to perform well, with the job market strengthening further and inflation rising to 2 percent over the next couple of years.
[2015-01-01] the government therefore deemed it necessary to eliminate the deficit through expenditure reform as well as other measures and attempt to generate a surplus in the primary balance.
[2015-01-01] the fall in nominal yields had not been accompanied by a similar decline in real yields, given that market-implied inflation rates had also declined.
[2015-01-01] real personal consumption expenditures (pce) appeared to be rising at a solid rate in the fourth quarter.
[2015-01-01] recent indicators suggest a rebound in the u.s. economy in the second half of this year, and growth is expected to be solid through the projection.
[2015-01-01] In addition, contacts reported that softer export sales, weaker economic activity abroad, and elevated levels of uncertainty regarding the global outlook were weighing on business sentiment and leadin
[2015-01-01] these factors are weighing on growth in many emerging markets and some other economies.
[2015-01-01] at the same time, the governing council had to remain cautious given the very early stages of the economic recovery and the high degree of uncertainty, particularly regarding the outer years of the pr
[2015-01-01] reflecting such developments in demand, the pace of growth in production had been slowing moderately.
[2015-01-01] household spending continues to underpin economic activity and is expected to grow at a moderate pace over the projection period.
[2015-01-01] there was also a degree of uncertainty over the seasonal adjustment of the data in the first quarter.
[2015-01-01] some members noted that relatively weak developments had been observed in indicators of consumer sentiment, but these indicators had recently shown signs of bottoming out.
[2015-01-01] housing investment was projected to continue picking up with the employment and income situation continuing to improve steadily, supported as well by accommodative financial conditions.
[2015-01-01] in contrast to some major advanced economy banking systems, growth of credit in some asian economies had remained rapid.
[2015-01-01] a fuller analysis of the implications of the new information contained in blue book 2015 would be possible as the committee prepared its november inflation report projections.
[2015-01-01] in several other countries, such downward adjustments might be limited by nominal rigidities, implying that wage developments would not fully reflect the past decline in oil prices.
[2015-01-01] the staff viewed the uncertainty around its december projections for real gdp growth, the unemployment rate, and inflation as similar to the average of the past 20 years.
[2015-01-01] housing the bank of japan will conduct money market operations so that the monetary base will increase at an annual pace of about 80 trillion yen.
[2015-01-01] industrial production had bottomed out, due in part to the progress in inventory adjustments.
[2015-01-01] as background to the outlook for price developments, members discussed the output gap and medium- to long-term inflation expectations, both of which were the main factors that determined the underlyin
[2015-01-01] the annual rate of change in producer prices for consumer food had continued to decline since mid-2014.
[2015-01-01] I mean, we—the—again, the relationship between slack in the economy and inflation is weak, has been weak.
[2015-01-01] Although single-family housing starts had come down substantially from their peak, the drop had lagged the decline in demand, and as a result, inventories of new homes had risen considerably.
[2015-01-01] many members expressed the opinion that the rate was likely to reach around 2 percent -- the price stability target -- in or around fiscal 2015, on the assumption that crude oil prices would rise mode
[2015-01-01] however, other participants noted that the continued subdued trend in wages was evidence of an absence of upward pressure on inflation from the current level of resource utilization.
[2015-01-01] business fixed investment remained soft even as the drag from the sharp contraction in drilling rigs over the first half of this year appeared to be fading.
[2015-01-01] forward-looking indicators had generally been consistent with the unemployment rate being around its current level or possibly slightly lower in the months ahead.
[2015-01-01] most participants continued to anticipate that, based on their assessment of current economic conditions and their outlook for economic activity, the labor market, and inflation, the conditions for po
[2015-01-01] however, some members noted that the effects of qqe continued to be substantial, given that interest rates in japan had been stable at low levels across the entire yield curve despite the rise in over
[2015-01-01] After deteriorating further early in the period, foreign equity prices bounced back and credit spreads on emerging market bonds narrowed, in both cases returning to December levels in most countries.
[2015-01-01] assessing the policy options, mr praet deemed that the information that had become available since the previous monetary policy meeting on 4-5 march did not give grounds to reconsider the monetary pol
[2015-01-01] export and import volumes were lower than they had been in 2014, although iron ore imports from australia appeared to have been steady over 2015.
[2015-01-01] Trends in wages and prices have remained stable in recent months.
[2015-01-01] Two noted the possibility that sustained high levels of long-term unemployment could result in higher structural unemployment, an outcome that might be forestalled by increased aggregate demand.
[2015-01-01] canada’s weaker terms of trade will have an adverse impact on incomes and wealth, reducing domestic demand growth.
[2015-01-01] moreover, in order to achieve both economic revitalization and fiscal consolidation, while firmly maintaining the goal to achieve fiscal consolidation by fiscal 2020, the government would proceed with
[2015-01-01] on this basis, many members shared the view that the year-on-year rate of increase in the cpi would accelerate as the base effect of the falling crude oil prices dissipated, and was likely to reach ar
[2015-01-01] underlying inflation will ease in the near term but then return gradually to 2 per cent over the projection horizon.
[2015-01-01] the bank expects growth to resume in the third quarter and begin to exceed potential again in the fourth quarter, led by the non-resource sectors of canada’s economy.
[2015-01-01] the bank, in accordance with the guideline decided at the previous meeting on september 14 and 15, 2015, had been providing funds through purchases of japanese government bonds (jgbs) and other measur
[2015-01-01] setting aside these transitory effects, the bank judges that the underlying trend in inflation is about 1.5 to 1.7 per cent.
[2015-01-01] one possible implication was that it might be necessary to acknowledge the longer time horizon over which monetary policy could be expected to deliver on its ultimate objective in the current environm
[2015-01-01] real disposable income growth in the euro area as a whole had picked up strongly in the first quarter of 2015, to 2.2%, year on year, and had been broad-based across the largest euro area economies.
[2015-01-01] With regard to the outlook for inflation, members gave considerable attention to the somewhat faster increases in broad price measures over the past year,
[2015-01-01] industrial production had been picking up, due in part to the moderate increase in demand both at home and abroad as well as to the progress in inventory adjustments.
[2015-01-01] resource exports had continued to make a significant contribution to growth.
[2015-01-01] regarding slack in the euro area economy, a range of estimates and indicators suggested a large degree of uncertainty while in general pointing to significant levels of slack.
[2015-01-01] members noted that projections by members of the fomc for the path of the federal funds rate had been revised down at the fomc's march meeting.
[2015-01-01] some members pointed out that the year-on-year rate of increase in the cpi might slow to around 0 percent in the immediate future, due to the effects of the decline in crude oil prices, but what shoul
[2015-01-01] bank staff expected gdp growth of 0.6% in q2, a little weaker than previously expected.
[2015-01-01] in considering the stance of monetary policy, members noted that the available data suggested that the global economy continued to record moderate growth.
[2015-01-01] however, a number of participants noted that it could be difficult to communicate the reason for such sales to the public, and, in particular, that the announcement of such sales would risk an outsize
[2015-01-01] the very weak first quarter has led to a widening of canada’s output gap and additional downward pressure on projected inflation.
[2015-01-01] the bank’s policy action is intended to provide insurance against these risks, support the sectoral adjustment needed to strengthen investment and growth, and bring the canadian economy back to full c
[2015-01-01] moreover, some members continued to see downside risks to inflation from the possibility of further dollar appreciation and declines in commodity prices.
[2015-01-01] the bank’s estimate of growth in canada in 2015 has been marked down considerably from its april projection.
[2015-01-01] this scrutiny and related work had shown that investor activity was considerably higher – and lending standards in some parts of the market weaker – than had originally been thought.
[2015-01-01] taking into account the views expressed by the governing council, the president concluded that it remained premature to judge whether recent developments would have a lasting impact on the medium-term
[2015-01-01] uncertainty about both the timing and speed of the recovery in non-mining business investment remained key risks to the forecasts.
[2015-01-01] it was expected to continue its moderate declining trend, albeit maintaining a somewhat high level.
[2015-01-01] the australian dollar had depreciated by 5 per cent against the us dollar and by 4 per cent on a trade-weighted basis over the past month, taking the exchange rate to around its lowest level since 200
[2015-01-01] many members expressed the recognition that, although an increase in business fixed investment had not been confirmed clearly in both its leading and coincident indicators released thus far, business
[2015-01-01] however, the effects of these communications on the expected path for the federal funds rate were more than offset by reactions to stronger-than-expected data for the labor market and consumer inflati
[2015-01-01] this sequence will be bolstered by the considerable easing in financial conditions that has occurred and by improving u.s. demand.
[2015-01-01] the oil price shock is occurring against a backdrop of solid and more broadly-based growth in canada in recent quarters.
[2015-01-01] in contrast, however, overall business investment in equipment and software was projected to strengthen in response to the upward trend in replacement demand, especially for computers and software
[2015-01-01] as expected, twelve-month cpi inflation had increased a little to 0.1% in may and fallen back to 0.0% in june.
[2015-01-07] Minutes of the Federal Open Market Committee December 16-17, 2014: HTML | PDF
[2015-01-07] The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on December 16-17, 2014. A summary of economic projections made
[2015-01-07] 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
[2015-01-07] FOMC minutes can be viewed on the Board’s website at http://www.federalreserve.gov/monetarypolicy/fomccalendars.htm
[2015-01-13] The Federal Reserve Board on Tuesday released the minutes of its discount rate meetings for November 24 and December 15, 2014.
[2015-01-28] 1. For the reciprocal currency arrangements authorized in paragraphs 2.A of the Authorization for Foreign Currency Operations:
[2015-01-28] The staff provided its latest report on potential risks to financial stability. Relatively high levels of capital and liquidity in the banking sector, moderate levels of maturity transformation in the
[2015-01-28] Information received since the Federal Open Market Committee met in December suggests that economic activity has been expanding at a solid pace. Labor market conditions have improved further, with str
[2015-01-28] The Committee is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of ro
[2015-01-28] Voting for this action: Janet L. Yellen, William C. Dudley, Lael Brainard, Charles L. Evans, Stanley Fischer, Jeffrey M. Lacker, Dennis P. Lockhart, Jerome H. Powell, Daniel K. Tarullo, and John C. Wi
[2015-01-28] B. The Committee (or by the Subcommittee, if the Subcommittee believes that consultation with the full Committee is not feasible in the time available, or by the Chairman, if the Chairman believes tha
[2015-01-28] The staff's forecast for inflation in the near term was revised down, as further sharp declines in crude oil prices since the December FOMC meeting pointed toward a somewhat larger transitory decrease
[2015-01-28] D. To maintain an overall open position in all foreign currencies not exceeding $25.0 billion. For this purpose, the overall open position in all foreign currencies is defined as the sum (disregarding
[2015-01-28] C. Maintain standing dollar liquidity swap arrangements with foreign banks in accordance with the Authorization for Foreign Currency Operations.
[2015-01-28] C. To exchange, at market prices, in connection with a Treasury auction, maturing Eligible Securities in the SOMA with the Treasury, in the case of Eligible Securities that are direct obligations of t
[2015-01-28] 7. To improve consistency, references to "the FOMC," "the Federal Open Market Committee," and "the Committee" were standardized, where appropriate, around the convention of "the Committee." This chang
[2015-01-28] In their discussion of language for the postmeeting statement, members generally agreed that they should acknowledge the solid growth over the second half of 2014 as well as the further improvement in
[2015-01-28] Credit flows to nonfinancial firms generally remained strong through the last quarter of 2014, though they slowed somewhat for riskier firms. Gross corporate bond issuance continued to be solid, altho
[2015-01-28] 1. The Federal Open Market Committee (the "Committee") authorizes and directs the Federal Reserve Bank selected by the Committee to execute open market transactions (the "Selected Bank"), to the exten
[2015-01-28] Michael S. Gibson, Director, Division of Banking Supervision and Regulation, Board of Governors
[2015-01-28] Jennifer Gallagher, Special Assistant to the Board, Office of Board Members, Board of Governors
[2015-01-28] 4. It shall be the normal practice to arrange with foreign central banks for the coordination of foreign currency transactions. In making operating arrangements with foreign central banks on System ho
[2015-01-28] A. To adjust System balances in light of probable future needs for currencies.
[2015-01-28] Troy Davig, Michael Dotsey, Joshua L. Frost,4 Evan F. Koenig, Samuel Schulhofer-Wohl, and Christopher J. Waller, Senior Vice Presidents, Federal Reserve Banks of Kansas City, Philadelphia, New York, D
[2015-01-28] B. To hold balances of, and to have outstanding forward contracts to receive or to deliver, the foreign currencies listed in paragraph A above.
[2015-01-28] Participants discussed the communications challenges associated with signaling, when it becomes appropriate to do so, that policy normalization is likely to begin relatively soon while remaining clear
[2015-01-28] Jeremy B. Rudd, Senior Adviser, Division of Research and Statistics, Board of Governors; Joyce K. Zickler, Senior Adviser, Division of Monetary Affairs, Board of Governors
[2015-01-28] Any such adjustment described in subparagraph A of this paragraph 5 shall be made in the context of the Committee's discussion and decision about the stance of policy at its most recent meeting and th
[2015-01-28] D. Maintain standing foreign currency liquidity swap arrangements with foreign banks in accordance with the Authorization for Foreign Currency Operations.
[2015-01-28] Participants discussed the tradeoffs between the risks that would be associated with departing from the effective lower bound later and those that would be associated with departing earlier. Several p
[2015-01-28] Industry contacts pointed to generally solid business conditions, with businesses in many parts of the country continuing to express optimism about prospects for further improvement in 2015. Although
[2015-01-28] 2. The Committee authorizes the Selected Bank to undertake transactions of the type described in paragraph 1 from time to time for the purpose of testing operational readiness, subject to the followin
[2015-01-28] ii. Would result in a change on any day in the System's net position in a single foreign currency exceeding $150 million, or $300 million when the operation is associated with repayment of swap drawin
[2015-01-28] The staff presentation also discussed a technical issue related to the calculation of the payment of interest on reserves. Under current arrangements, an increase in the IOER rate that is implemented
[2015-01-28] With regard to the potential use of other tools, several participants noted that the IOER and ON RRP rates should be set at the top and bottom, respectively, of the target range for the federal funds
[2015-01-28] Todd E. Clark and Douglas Tillett, Vice Presidents, Federal Reserve Banks of Cleveland and Chicago, respectively
[2015-01-28] 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 2016:
[2015-01-28] With respect to the U.S. economy, participants noted that household spending was rising moderately. Recent declines in oil prices, which had boosted household purchasing power, were among the factors
[2015-01-28] Real personal consumption expenditures (PCE) appeared to have risen at a robust pace over the second half of 2014. Data on spending in the third quarter were revised up, and the components of nominal
[2015-01-28] Participants' Discussion of Policy Planning Participants discussed considerations related to the choice of the appropriate timing of the initial firming in monetary policy and pace of subsequent rate
[2015-01-28] A. Adjust somewhat in exceptional circumstances the stance of monetary policy and to take actions that may result in material changes in the composition and size of the assets in the SOMA; or
[2015-01-28] Total U.S. consumer prices, as measured by the PCE price index, increased 1-1/4 percent over the 12 months ending in November, while core prices, as measured by PCE prices excluding food and energy, r
[2015-01-28] Robert deV. Frierson,1 Secretary of the Board, Office of the Secretary, Board of Governors
[2015-01-28] With regard to the possible use of term RRP operations as an additional supplementary tool, participants noted that recent testing showed that term RRP operations ahead of the year-end were associated
[2015-01-28] 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
[2015-01-28] 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