Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Fomc test

195 views

Published on

Published in: Economy & Finance, Business
  • Be the first to comment

  • Be the first to like this

Fomc test

  1. 1. Release Date: January 25March 13, 2012For immediate releaseInformation received since the Federal Open Market Committee met in DecemberJanuarysuggests that the economy has been expanding moderately, notwithstanding some slowing inglobal growth. While indicators point to some further improvement in overall labor. Labor marketconditions, have improved further; the unemployment rate has declined notably in recent monthsbut remains elevated. Household spending has continued to advance, but growth in and businessfixed investment has slowed, and thehave continued to advance. The housing sector remainsdepressed. Inflation has been subdued in recent months, although prices of crude oil andlongergasoline have increased lately. Longer-term inflation expectations have remained stable.Consistent with its statutory mandate, the Committee seeks to foster maximum employment andprice stability. The Committee expects moderate economic growth over coming quarters to bemodest and consequently anticipates that the unemployment rate will decline only graduallytoward levels that the Committee judges to be consistent with its dual mandate. Strains in globalfinancial markets have eased, though they continue to pose significant downside risks to theeconomic outlook. The The recent increase in oil and gasoline prices will push up inflationtemporarily, but the Committee also anticipates that over coming quarters,subsequently inflationwill run at levels at or below thosethe rate that it judges most consistent with the Committeesitsdual mandate.To support a stronger economic recovery and to help ensure that inflation, over time, is atlevelsthe rate most consistent with theits dual mandate, the Committee expects to maintain ahighly accommodative stance for monetary policy. In particular, the Committee decided today tokeep the target range for the federal funds rate at 0 to 1/4 percent and currently anticipates thateconomic conditions--including low rates of resource utilization and a subdued outlook forinflation over the medium run--are likely to warrant exceptionally low levels for the federal fundsrate at least through late 2014.The Committee also decided to continue its program to extend the average maturity of itsholdings of securities as announced in September. The Committee is maintaining its existingpolicies of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of rolling over maturing Treasurysecurities at auction. The Committee will regularly review the size and composition of itssecurities holdings and is prepared to adjust those holdings as appropriate to promote a strongereconomic recovery in a context of price stability.Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; William C.Dudley, Vice Chairman; Elizabeth A. Duke; Dennis P. Lockhart; Sandra Pianalto; Sarah BloomRaskin; Daniel K. Tarullo; John C. Williams; and Janet L. Yellen. Voting against the action wasJeffrey M. Lacker, who preferred to omit the description of the time period over whichdoes notanticipate that economic conditions are likely to warrant exceptionally low levels of the federalfunds rate through late 2014.
  2. 2. Release Date: March 13April 25, 2012For immediate releaseInformation received since the Federal Open Market Committee met in JanuaryMarch suggeststhat the economy has been expanding moderately. Labor market conditions have improvedfurtherin recent months; the unemployment rate has declined notably in recent months butremains elevated. Household spending and business fixed investment have continued toadvance. TheDespite some signs of improvement, the housing sector remains depressed.Inflation has been subdued in recent months, althoughpicked up somewhat, mainly reflectinghigher prices of crude oil and gasoline have increased lately. Longer. However, longer-terminflation expectations have remained stable.Consistent with its statutory mandate, the Committee seeks to foster maximum employment andprice stability. The Committee expects moderate economic growth to remain moderate overcoming quarters and consequently then to pick up gradually. Consequently, the Committeeanticipates that the unemployment rate will decline gradually toward levels that the Committee itjudges to be consistent with its dual mandate. Strains in global financial markets have eased,though they continue to pose significant downside risks to the economic outlook. The recentincrease in oil and gasoline prices will push up earlier this year is expected to affect inflation onlytemporarily, butand the Committee anticipates that subsequently inflation will run at or below therate that it judges most consistent with its dual mandate.To support a stronger economic recovery and to help ensure that inflation, over time, is at the ratemost consistent with its dual mandate, the Committee expects to maintain a highlyaccommodative stance for monetary policy. In particular, the Committee decided today to keepthe target range for the federal funds rate at 0 to 1/4 percent and currently anticipates thateconomic conditions--including low rates of resource utilization and a subdued outlook forinflation over the medium run--are likely to warrant exceptionally low levels for the federal fundsrate at least through late 2014.The Committee also decided to continue its program to extend the average maturity of itsholdings of securities as announced in September. The Committee is maintaining its existingpolicies of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of rolling over maturing Treasurysecurities at auction. The Committee will regularly review the size and composition of itssecurities holdings and is prepared to adjust those holdings as appropriate to promote a strongereconomic recovery in a context of price stability.Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; William C.Dudley, Vice Chairman; Elizabeth A. Duke; Dennis P. Lockhart; Sandra Pianalto; Sarah BloomRaskin; Daniel K. Tarullo; John C. Williams; and Janet L. Yellen. Voting against the action wasJeffrey M. Lacker, who does not anticipate that economic conditions are likely to warrantexceptionally low levels of the federal funds rate through late 2014.
  3. 3. Release Date: April 25June 20, 2012For immediate releaseInformation received since the Federal Open Market Committee met in MarchApril suggests thatthe economy has been expanding moderately. Labor market conditions have improved this year.However, growth in employment has slowed in recent months;, and the unemployment rate hasdeclined but remains elevated. Household spending and businessBusiness fixed investmenthavehas continued to advance. Household spending appears to be rising at a somewhat slowerpace than earlier in the year. Despite some signs of improvement, the housing sector remainsdepressed. Inflation has picked up somewhatdeclined, mainly reflecting higherlower prices ofcrude oil and gasoline. However,, and longer-term inflation expectations have remained stable.Consistent with its statutory mandate, the Committee seeks to foster maximum employment andprice stability. The Committee expects economic growth to remain moderate over comingquarters and then to pick up very gradually. Consequently, the Committee anticipates that theunemployment rate will decline graduallyonly slowly toward levels that it judges to be consistentwith its dual mandate. StrainsFurthermore, strains in global financial markets continue to posesignificant downside risks to the economic outlook. The increase in oil and gasoline prices earlierthis year is expected to affect inflation only temporarily, and the Committee anticipates thatsubsequently inflation over the medium term will run at or below the rate that it judges mostconsistent with its dual mandate.To support a stronger economic recovery and to help ensure that inflation, over time, is at the ratemost consistent with its dual mandate, the Committee expects to maintain a highlyaccommodative stance for monetary policy. In particular, the Committee decided today to keepthe target range for the federal funds rate at 0 to 1/4 percent and currently anticipates thateconomic conditions--including low rates of resource utilization and a subdued outlook forinflation over the medium run--are likely to warrant exceptionally low levels for the federal fundsrate at least through late 2014.The Committee also decided to continue through the end of the year its program to extend theaverage maturity of its holdings of securities as announced in September.. Specifically, theCommittee intends to purchase Treasury securities with remaining maturities of 6 years to 30years at the current pace and to sell or redeem an equal amount of Treasury securities withremaining maturities of approximately 3 years or less. This continuation of the maturity extensionprogram should put downward pressure on longer-term interest rates and help to make broaderfinancial conditions more accommodative. The Committee is maintaining its existing policiespolicyof reinvesting principal payments from its holdings of agency debt and agency mortgage-backedsecurities in agency mortgage-backed securities and of rolling over maturing Treasury securitiesat auction.. The Committee will regularly review the size and composition of its securities holdingsand is prepared to adjust those holdingstake further action as appropriate to promote a strongereconomic recovery and sustained improvement in labor market conditions in a context of pricestability.Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; William C.Dudley, Vice Chairman; Elizabeth A. Duke; Dennis P. Lockhart; Sandra Pianalto; Jerome H.Powell; Sarah Bloom Raskin; Jeremy C. Stein; Daniel K. Tarullo; John C. Williams; and Janet L.Yellen. Voting against the action was Jeffrey M. Lacker, who does not anticipate that economicconditions are likely to warrant exceptionally low levels of the federal funds rate through late2014opposed continuation of the maturity extension program.

×