Tag Archive for ‘Federal Reserve’

Consumer Credit Expands in 2015

Consumer credit outstanding grew on a seasonally adjusted annual rate of 7.2% over the month of December and by 5.8% over the fourth quarter of 2015. Over the year of 2015, consumer credit outstanding expanded by 6.9%. There is now $3.55 trillion in outstanding consumer credit. Growth in the outstanding amount of consumer credit over the year partly reflected an… Read More ›

AD&C Credit Standards Tighten, Even as Outstanding Loan Amounts Rise

Credit standards on loan applications for construction and land development loans or credit lines tightened, on net, over the fourth quarter of 2015. According to the most recent iteration of the Federal Reserve Board’s Senior Loan Officer Opinion Survey, a net share of 12.7% said that lending standards at their respective commercial bank tightened. The net share represents the difference between… Read More ›

Federal Open Market Committee January Meeting – No Change

The Federal Reserve’s monetary policy setting committee, the Federal Open Market Committee (FOMC), concluded its January meeting and released the standard post-meeting statement announcing the widely expected result of no change in the target for the benchmark short-term interest federal funds rate leaving it at 25-50 basis points. The committee recognized continuing progress in the labor market despite slower economic… Read More ›

Federal Open Market Committee December Meeting – Gradual Adjustments In The Stance of Monetary Policy

Just as few were surprised when the Federal Reserve announced the first increase in the target range for the federal funds rate in the statement following the December meeting, there were few surprises in the more detailed minutes of the meeting, released three weeks later. The minutes reiterated the basic themes that have guided deliberations in recent months: accumulated improvements… Read More ›

Federal Open Market Committee December Meeting – We Have Liftoff!

But, as we’ve been told repeatedly, the path of subsequent increases is more important, is expected to be gradual, and will be dependent on the progress of economic conditions, namely, continuing strength in output growth, improvements in the labor market and progress toward 2 percent inflation. The statement and press conference following the Federal Reserve’s monetary policy setting committee, the… Read More ›

Consumer Credit Continues to Grow

Consumer credit outstanding grew by a seasonally adjusted annual rate of 5.5%, $191.8 billion, in the month of October 2015, 4.4 percentage point slower than the 9.9% rate of growth recorded in September 2015. Consumer credit outstanding now totals $3.512 trillion. The increase in total consumer credit outstanding largely reflected an expansion in the outstanding amount of non-revolving consumer credit. Non-revolving consumer… Read More ›

Inside the Federal Open Market Committee October Meeting – Close to the Edge, Close to the Vest

The minutes from the Federal Reserve’s monetary policy setting committee, the Federal Open Market Committee (FOMC), October meeting reveal both confidence and caution on the part of policy makers. Meeting participants expressed a range of views regarding confidence in the accumulated progress in economic activity, labor market improvements, and the transitory nature of downward pressure on inflation from declining energy… Read More ›

Consumer Credit Expands

Consumer credit outstanding grew by a seasonally adjusted annual rate of 7.5%, $257.7 billion, in the third quarter of 2015, 1.0 percentage point slower than the 8.5% rate of growth recorded in the second quarter of 2015. Consumer credit outstanding now totals $3.499 trillion. The increase in total consumer credit outstanding partly reflected an expansion in the outstanding amount of… Read More ›

Federal Open Market Committee October Meeting – Any Meeting Now

The statement following the Federal Reserve’s monetary policy setting committee, the Federal Open Market Committee (FOMC), October meeting surprised few by not announcing an interest rate increase. Few analysts expected a move at this meeting. However, a significant development came in the form of the language referring to the timing of the first rate increase. “In determining how long to… Read More ›

Consumer Credit (from both Traditional and Non-traditional Sources) Expands

The Federal Reserve Board recently reported that consumer credit outstanding rose by a seasonally adjusted annual rate of 5.6%, $192.2 billion, in August 2015, slower than the 6.6% rate of growth recorded in July and the 9.6% growth rate in June. Consumer credit outstanding is now at $3.470 trillion. The expansion of total consumer credit outstanding partly reflected an increase in… Read More ›