Fed officials expressed a degree of uncertainty regarding the slowdown in payroll employment gains in the minutes of their June 14 – 15 Federal Open Market Committee (FOMC) meeting. Participants observed that transitory factors may have understated payroll growth, however many thought the underlying pace of growth had slowed from previous months. Despite weaker labor market growth, participants noted that ...

Despite disappointing figures for first-quarter GDP growth and May job creation, Federal Reserve Chairman Janet Yellen said today that she believes the remainder of the year will see continued progress toward the Fed’s monetary policy goals and that “further gradual increases in the federal funds rate are likely to be appropriate.”

In the minutes of their April 26 – 27 Federal Open Market Committee (FOMC) meeting, Fed officials expressed that they may be ready to raise interest rates once again in June. “Most participants judged that if incoming data were consistent with economic growth picking up in the second quarter, labor market conditions continuing to strengthen, and inflation making progress toward ...

The Federal Open Market Committee (FOMC) decided to maintain the current target for the federal funds rate at 25-50 basis points, as the stance of monetary policy remains accommodative. The post meeting statement noted that economic activity “appears to have slowed” during the intermeeting period, even as labor market conditions improved further. Inflation has continued to run below the Committee’s ...

In the minutes of their March 15 – 16 Federal Open Market Committee (FOMC) meeting, Fed officials showed some concern regarding soft business investment and net exports, but noted that data on economic activity and labor market conditions was “broadly consistent with their earlier expectations.” Meeting participants were “encouraged” by the growth of consumer spending over the previous quarters, and ...

In a speech to The Economic Club of New York, Federal Reserve Chair Janet Yellen said that the committee should proceed cautiously in adjusting monetary policy. “This caution is especially warranted because with the federal funds rate so low, the FOMC’s ability to use conventional monetary policy to respond to economic disturbances is asymmetric.” The Chair cited mixed domestic indicators, ...

In the minutes of their January 26 – 27th Federal Open Market Committee (FOMC) meeting, Fed officials showed greater concern regarding the balance of risks to the medium-term economic outlook for inflation and economic growth, noting that uncertainty had increased due to recent developments in financial markets and emerging economies. “Almost all participants cited a number of recent events as ...

In a hearing before the House Financial Services Committee, Chair Yellen reiterated that the Fed intends to raise rates gradually, while also noting that financial conditions have deteriorated some. “Financial conditions in the United States have recently become less supportive of growth, with declines in broad measures of equity prices, higher borrowing rates for riskier borrowers, and a further appreciation ...

The Federal Reserve Open Market Committee (FOMC) decided to maintain the current target for the federal funds rate at 25-50 basis points, as the stance of monetary policy remains accommodative. In a post meeting statement, the Committee again noted strong job gains and additional decline in labor force underutilization, as well as moderate increases in household spending, business fixed investment ...

In the minutes of their December 15 –16th Federal Open Market Committee (FOMC) meeting, Fed officials justified their decision to raise the federal funds rate, citing a range of labor market, and domestic and foreign developments. In terms of the size and timing of future rate hikes, members expect economic conditions to warrant only gradual increases in the federal funds ...