In the press conference immediately following the December 17-18, 2013 FOMC meeting, Fed Chairman Bernanke indicated that it was the FOMC’s current plan to have terminated Federal Reserve outright securities purchases by the end of 2014, commencing with a $10 billion reduction in securities purchases immediately after the December 2013 FOMC
Tag Archives: FOMC
The Fed Is Losing Control Over Core Inflation
Written by Steven Hansen The Federal Reserve FOMC meets next week to review the economy and argue monetary policy. For those who see economic policy as black or white, I have a bridge to sell you. Low interest rates are economically stimulative – or at least should be. Yet many years into the Fed’s ZIRP …
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Economy Remains on Life Support
The economy is much weaker than the picture Chairman Bernanke painted, and it is likely further extraordinary monetary policy accommodation will be necessary. Bernanke gave the opinion that the economy was gaining enough traction to stand on its own without further accommodation. With the consumer only offering modest support and government spending contracting, he can only be correct if private investment increases significantly.
Unconventional Monetary Policy and Central Bank Communications
Fed Vice Chair Janet Yellen presents the data which compares the results of Fed policy with counterfactual estimates. Most important effects result from expectations of Fed policy, more so than the actual implementation.
FOMC Meeting News – No Dissenters
The news for the first FOMC meeting of 2011 is that there were no dissenting views. The 2010 lone dissenter, Thomas M. Hoenig, was rotated out in 2011.