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Started By
Message
July 30-31 FOMC Minutes
Posted on 8/21/13 at 1:27 pm
Posted on 8/21/13 at 1:27 pm
LINK
This post was edited on 8/21/13 at 1:38 pm
2
Posted on 8/21/13 at 1:35 pm to LSU0358
(no message)
Posted on 8/21/13 at 1:39 pm to OnTheBrink
Link added.
Also, important note it looks like the new unemployment goal could be 7% where previous meetings have mentioned 6-6.5. In itself 7% is not important, but looks like some members could be pushing a more agressive timeline.
Also, important note it looks like the new unemployment goal could be 7% where previous meetings have mentioned 6-6.5. In itself 7% is not important, but looks like some members could be pushing a more agressive timeline.
Posted on 8/21/13 at 1:41 pm to LSU0358
Pretty obvious they know what's going on in the economy, but sticking to their tapering guns. Shows two things:
1) The Fed is focused on the flow effects from decreased mortgage and Treasury issuance.
2) They want to make sure the tapering plans are in place so the first decision the new Chairman makes doesn't increase volatility and reduce credibility.
1) The Fed is focused on the flow effects from decreased mortgage and Treasury issuance.
2) They want to make sure the tapering plans are in place so the first decision the new Chairman makes doesn't increase volatility and reduce credibility.
Posted on 8/21/13 at 1:43 pm to LSU0358
quote:
important note it looks like the new unemployment goal could be 7% where previous meetings have mentioned 6-6.5.
quote:
In addition, the Committee reaffirmed its intention to keep the target federal funds rate at 0 to ¼ percent and retained its forward guidance that it anticipates that this exceptionally low range for the federal funds rate will be approp riate at least as long as the unemployment rate remains above 6½ percent, infla- tion between one and two years ahead is projected to be no more than a half percentage point above the Committee’s 2 percent longer-run goal, and longer- term inflation expectations continue to be well anchored.
Posted on 8/21/13 at 1:49 pm to BennyAndTheInkJets
Anybody else notice the rally in the stock market as soon as the minutes were released?
The DJ went from 100+ points DOWN to UP 13 points as of now. And it happened within about 15 minutes.
Somebody out there must think the minutes are not favoring imminent "tapering" as much as some people thought from Bernanke's press conference right about the meeting.
The DJ went from 100+ points DOWN to UP 13 points as of now. And it happened within about 15 minutes.
Somebody out there must think the minutes are not favoring imminent "tapering" as much as some people thought from Bernanke's press conference right about the meeting.
Posted on 8/21/13 at 1:54 pm to LSURussian
From page 7:
And
if economic conditions continued to develop broadly as
anticipated, the Committee would reduce the pace of
purchases in measured steps and conclude the purchase
program around the middle of 2014. At that point, if
the economy evolved along the lines anticipated, the
recovery would have gained further momentum, unemployment
would be in the vicinity of 7 percent, and
inflation would be moving toward the Committee’s 2
percent objective.
Notice I said "could be", because it wasn't in the Policy action section. Just very interesting to me that 7% was mentioned at all, when it hasn't been before.
And
if economic conditions continued to develop broadly as
anticipated, the Committee would reduce the pace of
purchases in measured steps and conclude the purchase
program around the middle of 2014. At that point, if
the economy evolved along the lines anticipated, the
recovery would have gained further momentum, unemployment
would be in the vicinity of 7 percent, and
inflation would be moving toward the Committee’s 2
percent objective.
Notice I said "could be", because it wasn't in the Policy action section. Just very interesting to me that 7% was mentioned at all, when it hasn't been before.
Posted on 8/21/13 at 1:56 pm to LSU0358
Good point. Thanks.
Posted on 8/21/13 at 1:59 pm to LSURussian
quote:
Somebody out there must think the minutes are not favoring imminent "tapering" as much as some people thought from Bernanke's press conference right about the meeting.
The DJ was down 5% from its 8/2 high. Could just be a bounce before more correction. I'd love to see DJ 14,000 in the next month or so to do some buying.
Posted on 8/21/13 at 2:02 pm to LSU0358
quote:Possibly. But it's sure a coincidence the minutes were released and the averages all moved positive within 15 minutes after being down significantly all day.
The DJ was down 5% from its 8/2 high. Could just be a bounce before more correction.
Of course, having said that, the DJ is negative again slightly.
So, who knows?
Posted on 8/21/13 at 2:59 pm to LSU0358
And back down again.....
The DJ has finished down 6 sessions in a row. Short sellers must be
.
The DJ has finished down 6 sessions in a row. Short sellers must be
.
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