![]() RASCOE: So the higher the Fed's target goals, the more expensive it is to borrow. So I think overall, there's a mixed sort of message coming out of the economic data of late. ![]() You've got the Fed raising interest rates, and that's resulted, for example, in some notable softness in the housing market. But at the same time, you've got very high inflation, as you said. And it's against the backdrop where the labor market's very tight. And so what you did see was an increase in GDP, which means that the economy is producing more strongly than before. HANSON: Yeah, I think that there's a lot of cross-currents in the economy right now. But that news didn't seem to make economic observers, like, all that excited. RASCOE: So the gross domestic product rose at a better-than-expected 2.6% annual rate from July through September. To put it all in perspective and to look forward to a Federal Reserve meeting this coming week is Michael Hanson, executive director and global economist at JPMorgan Chase. ![]() The economy is growing for the first time this year, but prices are still going up. October 2023: Fed joins Threads and Instagram, both part of Meta ( META).The country got some good news and some bad news about the economy last week.January 2019: Fed Chair Jerome Powell increased the post-meeting press conferences to after every meeting, or eight times a year.March 2012: The Federal Reserve launched its Twitter channel.That change coincided with the FOMC's first annual release of its Statement of Longer-Run Goals and Monetary Policy Strategy. January 2012: The FOMC participants' assumptions about the appropriate level of the fed funds rate at year-ends and in the longer run are added to the SEP.At that same meeting, the Fed started issuing the SEP at the same time as the post-meeting statement. April 2011: Chairman Ben Bernanke holds the first post-monetary policy decision press conference, which are held four times a year and broadcast live on the Fed's website.It's included as an addendum to the FOMC meeting minutes. November 2007: The Fed increases the FOMC's Summary of Economic Projections ("SEP") releases to four times a year from twice a year.December 2004: The Fed reduces the lag in releasing the minutes of each FOMC meeting to three weeks after each meeting.February 1995: "Lightly edited" transcripts of the FOMC's meetings are issued with a five-year lag.February 1994: The Federal Open Market Committee releases statements on its main policy tool, the overnight federal funds rate.February 1993: The Federal Open Markets Committee begins issuing minutes of its monetary policy meetings, roughly in its present form, generally about three days after the FOMC's subsequent meeting.Since 1979, the central bank has disclosed the individual economic projections of the Federal Open Market Committee's members in the twice-a-year monetary policy report.For more than 30 years after the FOMC's current structure was created in 1935, policy actions were only communicated annually, appearing as an appendix in the FOMC's annual report.Here's a timeline hitting the highlights of how the Federal Open Market Committee's communications policy has changed over the years:
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