Tag Archive for ‘Federal Reserve’

Federal Open Market Committee April Meeting – Is the Future Receding?

The Federal Reserve’s monetary policy setting committee, the Federal Open Market Committee (FOMC), concluded its April meeting with a statement downgrading its assessment of the economic outlook but offered no indication of any change in policy with respect to the timing of the first increase in interest rates. The committee stuck to its language from the March statement, repeating that… Read More ›

Federal Open Market Committee March Minutes – Good Inflation, I Can’t Define It But I Know It When I See It

Minutes from the Federal Reserve’s monetary policy setting Federal Open Market Committee (FOMC) meeting March 17-18 reveal relatively little new information about the deliberations beyond what was available from the post-meeting statement and press conference (March Meeting). Economic growth appears to have moderated somewhat in the first quarter, the labor market has improved markedly but indicators of underutilization remain, and… Read More ›

Federal Open Market Committee March Meeting – Where Has All The Mystery Gone?

Federal Reserve Chairwoman Janet Yellen’s main point at the press conference following the conclusion of the March 17-18 Federal Open Market Committee (FOMC) meeting was that the Fed was prepared to be “less patient, but not impatient” with regard to the timing of the first hike in interest rates, presumably to rattle the cage of the June meeting consensus that… Read More ›

Federal Open Market Committee – Leaning Toward Later Liftoff

Minutes from the Federal Reserve’s monetary policy setting Federal Open Market Committee (FOMC) meeting January 27-28 reveal an as yet unsettled discussion regarding the timing of the first increase in the federal funds rate, but the weight of the conflicting views appears to be shifting toward a liftoff later than the current expectation of mid-2015. Declining energy prices were viewed… Read More ›

Federal Open Market Committee – Pivot to Inflation, Manage Expectations

No major surprises were revealed in the standard summary statement released following the Federal Reserve’s monetary policy setting Federal Open Market Committee (FOMC) meeting January 27-28. With economic output expanding, strong job growth and a declining unemployment rate the committee has shifted its focus to below target (2 percent) inflation as the primary threat to the continuing economic recovery. The… Read More ›

Federal Open Market Committee, December Meeting – Crude Oil, the Dollar and Abroad

Minutes from the Federal Reserve’s monetary policy setting Federal Open Market Committee (FOMC) meeting, held December 16-17, indicate the committee is confident the economic recovery will continue with accelerating growth in output, sustained improvement in job gains and a declining unemployment rate. Lower gas prices as well as improvements in household balance sheets are supporting greater consumer spending. Low interest… Read More ›

Federal Open Market Committee Meeting Concludes – No News Is Good News (For Mortgage Rates)

The Federal Open Market Committee (FOMC) concluded its September meeting and announced that it would continue the asset purchase program (popularly referred to as QE3) at the current $85 billion per month pace. Most analysts were expecting the announcement to be of a reduction in bond purchases (popularly referred to as tapering). The published statement and Chairman Bernanke’s press conference… Read More ›

Federal Open Market Committee Meeting Concludes – No Changes, No Surprises

The statement released following the Federal Open Market Committee’s (FOMC) meeting included no changes and no surprises. The assessment of economic conditions was largely the same: moderate expansion of economic activity, advancing household spending and business investment, a strengthening housing sector, and improving labor market conditions but an elevated unemployment rate. Inflation is running below target but inflation expectations remain… Read More ›

Federal Open Market Committee Meeting Statement – A Clear Signal

The most significant development reported in today’s statement and Chairman Bernanke’s press conference following the two day meeting of the Federal Open Market Committee (FOMC) was the identification of explicit targets connecting improvement in the economy and the beginning of increases in the federal funds rate. Previous FOMC guidance had been that the funds rate would remain at its current… Read More ›