yusufizzetmurat/fed-pulse-embedding-caches huggingface dataset:
[2019-10-09] The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on September 17-18, 2019. A summary of economic projections mad
[2019-10-09] 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
[2019-10-11] "Effective October 15, 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 1-3/4 to 2 perc
[2019-10-11] 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.
[2019-10-11] In connection with these plans, the Federal Open Market Committee voted unanimously to authorize and direct the Federal Reserve Bank of New York, until instructed otherwise, to execute transactions in
[2019-10-11] These actions are purely technical measures to support the effective implementation of the FOMC's monetary policy, and do not represent a change in the stance of monetary policy. The Committee will co
[2019-10-11] More information about these plans may be found on the Federal Reserve Bank of New York's website.
[2019-10-11] Statement Regarding Treasury Bill Purchases and Repurchase Operations
[2019-10-11] The Committee directs the Desk to continue rolling over at auction all principal payments from the Federal Reserve's holdings of Treasury securities and to continue reinvesting all principal payments
[2019-10-11] Consistent with its January 2019 Statement Regarding Monetary Policy Implementation and Balance Sheet Normalization, the Committee reaffirms its intention to implement monetary policy in a regime in w
[2019-10-15] The Federal Reserve Board on Tuesday released the minutes of its interest rate meetings on August 26 and September 18, 2019.
[2019-10-30] Most participants preferred not to wait until the October 29–30 FOMC meeting to issue a public statement regarding the planned Treasury bill purchases and repo operations. They noted that releasing a
[2019-10-30] Participants generally viewed the economic outlook as positive. Participants judged that sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee's sy
[2019-10-30] Real PCE rose solidly in the third quarter following a stronger gain in the second quarter. Overall consumer spending rose steadily in recent months, and sales of light motor vehicles through Septembe
[2019-10-30] In the commercial real estate (CRE) sector, financing conditions also remained generally accommodative. The volume of agency and non-agency commercial mortgage-backed securities issuance was strong in
[2019-10-30] The vote also encompassed approval of the statement below to be released at 2:00 p.m.:
[2019-10-30] The nominal U.S. international trade deficit widened in August, reflecting a subdued pace of export growth and a moderate pace of import growth. Export growth was subdued due to lackluster exports of
[2019-10-30] Information received since the Federal Open Market Committee met in September indicates that the labor market remains strong and that economic activity has been rising at a moderate rate. Job gains ha
[2019-10-30] Participants discussed the relative merits of qualitative, date-based, and outcome-based forward guidance. A number of participants noted that each of these three forms of forward guidance could be ef
[2019-10-30] Voting for this action: Jerome H. Powell, John C. Williams, Michelle W. Bowman, Lael Brainard, James Bullard, Richard H. Clarida, Charles L. Evans, and Randal K. Quarles.
[2019-10-30] "Effective October 31, 2019, the Federal Open Market Committee directs the Desk to undertake open market operations as necessary to maintain the federal funds rate in a target range of 1-1/2 to 1-3/4
[2019-10-30] Brian M. Doyle, Wendy E. Dunn, Joseph W. Gruber, Ellen E. Meade, and Ivan Vidangos, Special Advisers to the Board, Office of Board Members, Board of Governors
[2019-10-30] All participants expressed support for a plan to purchase Treasury bills into the second quarter of 2020 and to continue conducting overnight and term repo operations at least through January of next
[2019-10-30] Many participants also cited the level of inflation or inflation expectations as justifying a reduction of 25 basis points in the federal funds rate at this meeting. Inflation continued to run below t
[2019-10-30] The manager pro tem next turned to a review of money market developments since early October. On October 11, the Committee announced its decision to maintain reserves at or above the level that prevai
[2019-10-30] Real nonresidential private fixed investment declined further in the third quarter. Nominal shipments of nondefense capital goods excluding aircraft decreased over August and September, and forward-lo
[2019-10-30] Regarding the outlook for U.S. monetary policy, the Open Market Desk's surveys and market-based indicators pointed to a high likelihood of a 25 basis point cut in the target range at the October meeti
[2019-10-30] In their comments following the staff presentation, participants emphasized the importance of maintaining reserves at a level consistent with the Committee's choice of an ample-reserves monetary polic
[2019-10-30] 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
[2019-10-30] Patrick Harker, Robert S. Kaplan, Neel Kashkari, Loretta J. Mester, and Michael Strine, Alternate Members of the Federal Open Market Committee
[2019-10-30] Participants' Views on Current Conditions and the Economic Outlook Participants agreed that the labor market had remained strong over the intermeeting period and that economic activity had risen at a
[2019-10-30] The staff continued to view 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. Moreover, the sta
[2019-10-30] The Committee also directs the Desk to engage in dollar roll and coupon swap transactions as necessary to facilitate settlement of the Federal Reserve's agency mortgage-backed securities transactions.
[2019-10-30] 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
[2019-10-30] Shaghil Ahmed, Senior Associate Director, Division of International Finance, Board of Governors; David E. Lebow, Senior Associate Director, Division of Research and Statistics, Board of Governors
[2019-10-30] Domestic short-term funding markets were volatile in mid-September and exhibited additional, albeit modest, pressures around the September quarter-end and the mid-October Treasury settlement date. The
[2019-10-30] 7. Attended the discussion of developments in financial markets and open market operations through the end of the meeting. Return to text
[2019-10-30] September FOMC communications were viewed as slightly less accommodative than expected, with investors reportedly surprised by the Summary of Economic Projections showing that a majority of FOMC parti
[2019-10-30] Participants also discussed risks regarding the outlook for economic activity, which remained tilted to the downside. Some risks were seen to have eased a bit, although they remained elevated. There w
[2019-10-30] Stephanie E. Curcuru, Assistant Director, Division of International Finance, Board of Governors; Giovanni Favara, Laura Lipscomb,4 Zeynep Senyuz,4 and Rebecca Zarutskie,2 Assistant Directors, Division
[2019-10-30] With respect to purchases of Treasury bills for reserve management purposes, the Desk had purchased more than half of the initial $60 billion monthly amount for October, and propositions at the five o
[2019-10-30] Videoconference meeting of October 4, 2019 The Committee met by videoconference on October 4, 2019, to review developments in money markets and to discuss steps the Committee could take to facilitate
[2019-10-30] Review of Monetary Policy Strategy, Tools, and Communication Practices Committee participants continued their discussions related to the ongoing review of the Federal Reserve's monetary policy strateg
[2019-10-30] 6. Attended the discussion of economic developments and the outlook. Return to text
[2019-10-30] In connection with these plans, the Federal Open Market Committee voted unanimously to authorize and direct the Federal Reserve Bank of New York, until instructed otherwise, to execute transactions in
[2019-10-30] Total real government purchases rose at a slower pace in the third quarter than in the second quarter. Real federal purchases decelerated, reflecting smaller increases in both defense and nondefense s
[2019-10-30] Review of Options for Repo Operations to Support Control of the Federal Funds Rate The staff briefed participants on the recent experience with using repo operations to support control of the federal
[2019-10-30] Total consumer prices, as measured by the PCE price index, increased 1.4 percent over the 12 months ending in August. Core PCE price inflation (which excludes changes in consumer food and energy price
[2019-10-30] Voting for the 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; and Randal K.
[2019-10-30] Alyssa G. Anderson,4 Anna Orlik, and Bernd Schlusche,2 Principal Economists, Division of Monetary Affairs, Board of Governors; Cristina Fuentes-Albero2 and Christopher J. Nekarda,6 Principal Economist
[2019-10-30] 2. Attended the discussion of the review of monetary policy strategy, tools, and communication practices. Return to text
[2019-10-30] Mark A. Carlson,3 Senior Economic Project Manager, Division of Monetary Affairs, Board of Governors
[2019-10-30] The Committee directs the Desk to continue rolling over at auction all principal payments from the Federal Reserve's holdings of Treasury securities and to continue reinvesting all principal payments
[2019-10-30] Thomas I. Barkin, Raphael W. Bostic, and Mary C. Daly, Presidents of the Federal Reserve Banks of Richmond, Atlanta, and San Francisco, respectively
[2019-10-30] During their discussion, all FOMC participants agreed that control over the federal funds rate was a priority and that recent money market developments suggested it was appropriate to consider steps a
[2019-10-30] 8. The staff briefed the Committee in June 2019 on the possible role of a standing repo facility in the monetary policy implementation framework. Return to text
[2019-10-30] Notation Vote By notation vote completed on October 8, 2019, the Committee unanimously approved the minutes of the Committee meeting held on September 17–18, 2019.
[2019-10-30] Linda Robertson, Assistant to the Board, Office of Board Members, Board of Governors
[2019-10-30] In their discussions of the business sector, participants saw trade tensions and concerns about the global growth outlook as the main factors contributing to weak business investment and exports and t
[2019-10-30] It was agreed that the next meeting of the Committee would be held on Tuesday–Wednesday, December 10–11, 2019. The meeting adjourned at 9:50 a.m. on October 30, 2019.
[2019-10-30] The staff reviewed recent developments in money markets and the effect of the Desk's continued offering of overnight and term repo operations. Staff analysis and market commentary suggested that many
[2019-10-30] PRESENT: 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
[2019-10-30] President George dissented at this meeting because she believed that an unchanged setting of monetary policy was appropriate based on incoming data and the outlook for economic activity over the mediu
[2019-10-30] On October 11, 2019, the Committee approved by notation vote the following statement that outlines steps to ensure that the supply of reserves remains ample so that control over the level of the feder
[2019-10-30] Alex Richter, Senior Research Economist and Advisor, Federal Reserve Bank of Dallas
[2019-10-30] The second part of the staff briefing focused on balance sheet policy tools. The staff discussed the benefits and costs associated with the large-scale asset purchase programs implemented by the Feder
[2019-10-30] In considering policy tools that the Federal Reserve had not used in the recent past, participants discussed the benefits and costs of using balance sheet tools to cap rates on short- or long-maturity
[2019-10-30] Angela O'Connor,4 Marc Giannoni,2 Paolo A. Pesenti, Samuel Schulhofer-Wohl,4 Raymond Testa,4 and Nathaniel Wuerffel,4 Senior Vice Presidents, Federal Reserve Banks of New York, Dallas, New York, Chica
[2019-10-30] These actions are purely technical measures to support the effective implementation of the FOMC's monetary policy, and do not represent a change in the stance of monetary policy. The Committee will co
[2019-10-30] Antulio N. Bomfim, Senior Adviser, Division of Monetary Affairs, Board of Governors
[2019-10-30] The manager pro tem reviewed options that the Committee could consider to boost the level of reserves in the banking system and to address temporary money market pressures that could adversely affect
[2019-10-30] Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In light of the implications of global developments for the economic outlook as well as mut
[2019-10-30] Stefania D'Amico2 and Thomas B. King,2 Senior Economists and Research Advisors, Federal Reserve Bank of Chicago
[2019-10-30] By unanimous vote, the Committee ratified the Desk's domestic transactions over the intermeeting period. There were no intervention operations in foreign currencies for the System's account during the
[2019-10-30] Consistent with its January 2019 Statement Regarding Monetary Policy Implementation and Balance Sheet Normalization, the Committee reaffirms its intention to implement monetary policy in a regime in w
[2019-10-30] Rochelle M. Edge, Eric M. Engen, Anna Paulson, Christopher J. Waller, William Wascher, and Beth Anne Wilson, Associate Economists
[2019-10-30] Joshua Gallin, Special Adviser to the Chair, Office of Board Members, Board of Governors
[2019-10-30] Kelly J. Dubbert, First Vice President, Federal Reserve Bank of Kansas City
[2019-10-30] The staff's forecast for core PCE price inflation this year was revised down a little in response to recent data. Beyond this year, the projection for core inflation was unrevised, and the forecast fo
[2019-10-30] With regard to the postmeeting statement, members agreed to update the language of the Committee's description of incoming data to acknowledge that investment spending and U.S. exports had remained we
[2019-10-30] In their discussion of the household sector, participants agreed that consumer spending was increasing at a strong pace. They also generally expected that, in the period ahead, household spending woul
[2019-10-30] Many participants judged that an additional modest easing at this meeting was appropriate in light of persistent weakness in global growth and elevated uncertainty regarding trade developments. Noneth
[2019-10-30] The staff provided an update on its assessments of potential risks to financial stability. On balance, the staff characterized the financial vulnerabilities of the U.S. financial system as moderate. T
[2019-10-30] Participants expressed a range of views on the relative merits of the two approaches described by the staff for conducting repo operations. Many participants noted that, once an ample supply of reserv
[2019-10-30] Edward S. Prescott, Senior Economic and Policy Advisor, Federal Reserve Bank of Cleveland
[2019-10-30] Participants expected that, at upcoming meetings, they would continue their deliberations on the Committee's review of the monetary policy framework as well as the Committee's Statement on Longer-Run
[2019-10-30] The manager pro tem noted that diminished willingness of some dealers to intermediate across money markets ahead of the year-end could result in upward pressure on short-term money market rates. Forwa
[2019-10-30] Jon Faust, Senior Special Adviser to the Chair, Office of Board Members, Board of Governors
[2019-10-30] Staff Review of the Economic Situation The information available for the October 29–30 meeting indicated that labor market conditions remained strong and that real gross domestic product (GDP) increas
[2019-10-30] David Altig, Kartik B. Athreya, Jeffrey Fuhrer, and Glenn D. Rudebusch, Executive Vice Presidents, Federal Reserve Banks of Atlanta, Richmond, Boston, and San Francisco, respectively
[2019-10-30] Broad stock price indexes fell by as much as 4 percent during the first half of the intermeeting period but recovered afterward, ending the period roughly unchanged. Option-implied volatility on the S
[2019-10-30] Nicolas Petrosky-Nadeau,6 Senior Research Advisor, Federal Reserve Bank of San Francisco
[2019-10-30] Larry Wall,2 Executive Director, Federal Reserve Bank of Atlanta
[2019-10-30] Jennifer J. Burns, Deputy Director, Division of Supervision and Regulation, Board of Governors; Daniel M. Covitz, Deputy Director, Division of Research and Statistics, Board of Governors; Michael T. K
[2019-10-30] STATEMENT REGARDING MONETARY POLICY IMPLEMENTATION (Adopted October 11, 2019)
[2019-10-30] Some participants favored maintaining the existing target range for the federal funds rate at this meeting. These participants suggested that the baseline projection for the economy remained favorable
[2019-10-30] Some participants noted that the form of the policy response would depend critically on the circumstances the Committee faced at the time. Several participants suggested that communicating to the publ
[2019-10-30] Voting against this action: Esther L. George and Eric Rosengren.
[2019-10-30] Yields on nominal U.S. Treasury securities moved down in the early part of the intermeeting period but later retraced their declines. On net, the Treasury yield curve steepened a bit, mostly reflectin
[2019-10-30] The mid-September increases in U.S. Treasury repo rates spilled over to borrowing rates in the international dollar funding market. However, the measures taken by the Federal Reserve to keep the feder
[2019-10-30] In light of the implications of global developments for the economic outlook as well as muted inflation pressures, most members agreed to lower the target range for the federal funds rate to 1-1/2 to
[2019-10-30] Participants also discussed the benefits and costs of using different types of balance sheet policy. Participants generally agreed that the balance sheet policies implemented by the Federal Reserve af
[2019-10-30] 4. Attended the discussion of developments in financial markets and open market operations through the discussion of the review of options for repo operations to support control of the federal funds r
[2019-10-30] Members agreed that, in determining the timing and size of future adjustments to the target range for the federal funds rate, the Committee would assess realized and expected economic conditions relat
[2019-10-30] With regard to monetary policy beyond this meeting, most participants judged that the stance of policy, after a 25 basis point reduction at this meeting, would be well calibrated to support the outloo
[2019-10-30] Committee Policy Action In their discussion of monetary policy for this meeting, members noted that information received since the September meeting indicated that the labor market remained strong and
[2019-10-30] Benjamin Malin, Senior Research Economist, Federal Reserve Bank of Minneapolis
[2019-10-30] 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, October
[2019-10-30] Staff Review of the Financial Situation Investor sentiment weakened over the early part of the intermeeting period, reflecting a few weaker-than-expected domestic data releases, but later strengthened
[2019-10-30] Glenn Follette, Deputy Associate Director, Division of Research and Statistics, Board of Governors; Christopher J. Gust, Deputy Associate Director, Division of Monetary Affairs, Board of Governors; Je
[2019-10-30] Real residential investment turned up solidly in the third quarter following six consecutive quarters of contraction. This upturn was consistent with the rise in single-family starts in the third quar
[2019-10-30] The manager pro tem finished by noting that the Federal Reserve Bank of New York would soon release a request for public comment on a plan to publish a series of backward looking Secured Overnight Fin
[2019-10-30] Penelope A. Beattie,5 Section Chief, Office of the Secretary, Board of Governors; Matthew Malloy,4 Section Chief, Division of Monetary Affairs, Board of Governors
[2019-10-30] At the conclusion of the discussion, the Committee voted to authorize and direct the Federal Reserve Bank of New York, until instructed otherwise, to execute transactions in the SOMA in accordance wit
[2019-10-30] Michael Hsu,4 Associate Director, Division of Supervision and Regulation, Board of Governors; David López-Salido and Min Wei, Associate Directors, Division of Monetary Affairs, Board of Governors
[2019-10-30] Ann E. Misback, Secretary, Office of the Secretary, Board of Governors
[2019-10-30] Satyajit Chatterjee, Richard K. Crump,6 George A. Kahn, Rebecca McCaughrin,4 and Patricia Zobel,7 Vice Presidents, Federal Reserve Banks of Philadelphia, New York, Kansas City, New York, and New York,
[2019-10-30] Financing conditions in the residential mortgage market remained accommodative on balance. Mortgage rates were little changed since the September FOMC meeting and stayed near their lowest level since
[2019-10-30] Participants made no decisions at this meeting on the longer-run role of repo operations in the ample-reserves regime or on an approach for conducting repo operations over the longer run. They general
[2019-10-30] Total nonfarm payroll employment expanded at a slower pace in September than in the previous two months, but the average pace for the third quarter was similar to that for the first half of the year.
[2019-10-30] All participants judged that negative interest rates currently did not appear to be an attractive monetary policy tool in the United States. Participants commented that there was limited scope to brin
[2019-10-30] In their discussion of inflation developments, participants noted that readings on overall and core PCE inflation, measured on a 12-month change basis, had continued to run below the Committee's symme
[2019-10-30] Among those participants who commented on financial stability, most highlighted the risks associated with high levels of corporate indebtedness and elevated valuation pressures for a variety of risky
[2019-10-30] Many participants continued to view the downside risks surrounding the economic outlook as elevated, further underscoring the case for a rate cut at this meeting. In particular, risks to the outlook a
[2019-10-30] Financial markets in the AFEs followed a pattern similar to that seen in the United States. AFE financial conditions tightened early in the intermeeting period on disappointing activity data, both in
[2019-10-30] Overall, participants generally agreed that the forward guidance and balance sheet policies followed by the Federal Reserve after the financial crisis had been effective in providing stimulus at the E
[2019-10-30] Consistent with the Committee's decision to lower the target range for the federal funds rate to 1-1/2 to 1-3/4 percent, the Board of Governors voted unanimously to lower the interest rate paid on req