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Posted by: thepinetree on 05/03/2017 11:17 AM
Updated by: thepinetree on 05/03/2017 11:17 AM
Expires: 01/01/2022 12:00 AM
:
The Fed Holds Rates Steady On Transitory Growth Models
Washington, DC...Information received since the Federal Open Market Committee met in March indicates that the labor market has continued to strengthen even as growth in economic activity slowed. Job gains were solid, on average, in recent months, and the unemployment rate declined. Household spending rose only modestly, but the fundamentals underpinning the continued growth of consumption remained solid. Business fixed investment firmed. Inflation measured on a 12-month basis recently has been running close to the Committee's 2 percent longer-run objective. Excluding energy and food, consumer prices declined in March and inflation continued to run somewhat below 2 percent. Market-based measures of inflation compensation remain low; survey-based measures of longer-term inflation expectations are little changed, on balance.
Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee views the slowing in growth during the first quarter as likely to be transitory and continues to expect that, with gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace, labor market conditions will strengthen somewhat further, and inflation will stabilize around 2 percent over the medium term. Near-term risks to the economic outlook appear roughly balanced. The Committee continues to closely monitor inflation indicators and global economic and financial developments.
In view of realized and expected labor market conditions and inflation, the Committee decided to maintain the target range for the federal funds rate at 3/4 to 1 percent. The stance of monetary policy remains accommodative, thereby supporting some further strengthening in labor market conditions and a sustained return to 2 percent inflation.
In determining the timing and size of future adjustments to the target range for the federal funds rate, the Committee will assess realized and expected economic conditions relative to its objectives of maximum employment and 2 percent inflation. This assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial and international developments. The Committee will carefully monitor actual and expected inflation developments relative to its symmetric inflation goal. The Committee expects that economic conditions will evolve in a manner that will warrant gradual increases in the federal funds rate; the federal funds rate is likely to remain, for some time, below levels that are expected to prevail in the longer run. However, the actual path of the federal funds rate will depend on the economic outlook as informed by incoming data.
The Committee is maintaining its existing policy 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 Treasury securities at auction, and it anticipates doing so until normalization of the level of the federal funds rate is well under way. This policy, by keeping the Committee's holdings of longer-term securities at sizable levels, should help maintain accommodative financial conditions.
Voting for the FOMC monetary policy action were: Janet L. Yellen, Chair; William C. Dudley, Vice Chairman; Lael Brainard; Charles L. Evans; Stanley Fischer; Patrick Harker; Robert S. Kaplan; Neel Kashkari; and Jerome H. Powell.
Implementation Note issued May 3, 2017
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No Subject
Posted on: 2017-05-03 11:27:01
By: Anonymous
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I guess the adults on the FOMC don't see the 4-5 % GDP growth that Trump promised. Oh well, his hands aren't as big as he said either.
Best hope for the economy is that Republican infighting prevents them from doing anything and the Obama economy just keeps perking along, doing just fine.
You're welcome.
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Re:
Posted on: 2017-05-03 16:20:26
By: Anonymous
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Exactly correct
This is still Obamas economy, nice job best President in 100 years
Wait until the Drumph economy kicks in, the middle class will be screwed
Too bad most of the middle class people in our area (Cal &Tuol) counties don't have the resources to bolster their wealth in the last of the good time, but Drumph does't care, we are just puppets to the ignorant hillbillies that voted for this FRAUD and are too stupid to even realize it.
He has not presented one thing that helps the middle class, Get it fools
You will when your S/S and Medicare monies go to his rich buddies on Wall street
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Re:
Posted on: 2017-05-03 22:14:55
By: Anonymous
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This is Bernanke fallout of controlling free markets via interest rates. Rates need to increase for a number of reasons, but part of the equation that is rarely mentioned is the effects of rates on the national debt. The government stands to lose even more and go further in debt if rates increase, In the scope of domestic economics our government is the borrower, paying interest to lenders (bond holders). If rates increased the US Govt has more problems paying back the enormous (thanks you Obama) debt. Other administrations created the debt but Obama was a record setter increasing it.
And yes, I do understand this stuff.
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Re:
Posted on: 2017-05-04 10:57:37
By: Anonymous
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If you actually understand this stuff, then you'd know that interest rates are unlikely to increase without an equal or nearly equal increase in inflation. That means we will repay debt at a higher interest rate but with dollars that are of less value. Those effects off-set in part. If necessary the government can simply print money to pay off the debt and drive inflation to the extent it wishes. This is among the reasons that the situation in the US and say Greece can never be the same.
You might also remember that Obama's spending was in response to the Great Recession, which he inherited from W. The US took the successful path of using government stimulus to counter the recession and we came out of it pretty quickly and well compared to Europe and other areas where governments responded with austerity and managed to prolong the recession. Your toddler president Trump is now talking about a $ trillion infrastructure stimulus package to try to further juice the economy. I doubt he'll get that, but it would be larger spending than any Obama stimulus and carried out at a time when there is no Great Recession to justify it.
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Re:
Posted on: 2017-05-04 06:03:27
By: Anonymous
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You must swallow
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Nice tie.
Posted on: 2017-05-03 11:57:27
By: Anonymous
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Nice tie.
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Re: Nice tie.
Posted on: 2017-05-03 12:33:45
By: Anonymous
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Nice Wig
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No Subject
Posted on: 2017-05-03 12:20:26
By: Anonymous
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Bird Brain
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