Eye On Housing
The Federal Open Market Committee (FOMC) concluded its October meeting and announced that it would continue the asset purchase program at the current $85 billion per month pace. The committee repeated its consistent message that the purchases would continue until incoming data indicated substantial and sustained improvement in the labor market. The waiting is likely to continue for at least… Read More ›
Tag Archive for ‘FOMC’
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 ›
GDP and FOMC – Two Reports, One Big Surprise
The Bureau of Economic Analysis (BEA) released the advance estimate of real GDP growth for the second quarter of 2013 and the Federal Open Market Committee (FOMC) concluded its two day meeting with the release of the traditional statement reporting on the committee’s actions. These two reports have been much anticipated as analysts track the pace of the economic recovery… Read More ›
Federal Open Market Committee Meeting Concludes – Clarifying Tapering Timing
The Federal Open Market Committee (FOMC) concluded its two day meeting, released the usual statement plus meeting participants’ economic projections, and Chairman Ben Bernanke held a press conference. Beyond some nuance tweaking of the language, the statement really was the “usual” statement; economic activity expanding at a moderate pace, labor market conditions improving but an elevated unemployment rate, household and… 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 ›
FOMC September Policy Meeting – The Fed Goes All In
The statement released following the two day meeting of the Federal Open Market Committee (FOMC), the Federal Reserve’s main monetary policy setting body, coupled with Ben Bernanke’s post-meeting press conference unveiled the much anticipated third round of quantitative easing, or QE3. As expected, the FOMC also extended the forward guidance, announcing that the Fed funds target rate would remain at… Read More ›
Federal Open Market Committee Meeting Statement – Reading the Tea Leaves
Today’s statement following the July 31-August 1 meeting of the Federal Open Market Committee (FOMC) offered a couple of hints, but nothing definitive on the big question of further monetary policy easing. The language in today’s statement downgraded current economic growth compared to the statement following the June meeting, replacing “the economy has been expanding moderately this year” with “economic… Read More ›
Federal Open Market Committee January Meeting Statement – Enjoying the View
The communication following the Federal Open Market Committee (FOMC) two day meeting January 24-25 comes in three parts. The standard statement is joined by the release of tables and charts summarizing the economic projections and the target federal funds rate projections of the meeting participants, as well as an additional statement explaining the Fed’s principles regarding longer-term goals and policy… Read More ›
Federal Open Market Committee Minutes: A Glimpse Behind the Curtain
Last week the Federal Reserve Board released the minutes from the December 13 Federal Open Market Committee (FOMC) meeting. The minutes provide much more detail on the deliberations of the committee than the brief statement which is released immediately following the meeting. The review of US economic conditions between the November and December meetings identifies an economy that is expanding… Read More ›