· The Board of Governors of the Federal Reserve System voted unanimously to raise the interest rate paid on reserve balances to 1.65 percent, effective June 16, 2022. 联邦储备系统理事会一致投票决定,自2022年6月16日起,将准备金余额支付的利率提高到1.65%。 As part of its policy decision, the Fe...
At today’s meeting the Committee raised the target range for the federal funds rate by 3/4 percentage point, bringing the target range to 3 to 3-1/4 percent. And we are continuing the process of significantly reducing the size of our balance sheet, which plays an important role in firmi...
Central bank meeting documents have increased their relevance in recent policymaking. These documents assist in communicating the policy decision-making process and in conveying the economic outlook to the public. As my work empirically demonstrates, the documents can also be used for significantly affect...
As expected, the Central Bank, citing “subdued” inflation, kept its benchmark interest rate at a record low level. Fed’s Statement: “Information received since the Federal Open Market Committee met in June indicates that the pace of recovery in output and employment has slowed in recent mo...
The first argument is not in my view very compelling, because the Fed’s inflation-phobia did not suddenly appear at the September 2008 FOMC meeting, or even at the June meeting, though, to be sure, its pathological nature at those meetings does have a certain breathtaking quality; it had...
The Committee releases a statement following each meeting with its intended policy action and the outlook for the economy, followed by a press conference by Federal Reserve Chair Jerome Powell. In four of these meetings (March, June, September, and December), the FOMC also releases its economic...
Fortunately, if one likes roller coasters, the journey isn’t over yet as the calendar shifts to the MarchFOMCpolicy decision this week. The Federal Open Market Committee (FOMC) meets eight times annually. The Committee releases a statement following each meeting with its intended policy ...
“In light of ongoing reductions in usage of the ON RRP facility, many participants suggested that it would be appropriate to begin in-depth discussions of balance sheet issues at the Committee’s next meeting [mid-March] to guide an eventual decision ...
美联储在3月19日至20日以及4月30日至5月1日召开的会议上降息的可能性不大,但Dreyfus and Mellon首席经济学家文森特·莱因哈特(Vincent Reinhart)认为,FOMC将在3月会议上“改变话题”,开始讨论美联储的资产负债表。目前美联储的资产负债表已从2022年年中约9万亿美元的峰值缩减至7.5万亿美元。
40bphigherthantheJunemedian.Powell forecastiscorrecttheFedmightwellendupraisingtheterminalrateto5%. Meanwhile,ChairPowellwasnoncommittalonthenear-termoutlookforratehikes.Hearguedthatwhilethemediandotimplieda75bphikeattheNovemberorDecembermeeting,therewasalargecampwhoalsosaw10obpmoreofhikesthroughyearend.Chair...