FOMC Today

[emg 12]

Does anyone have an idea of what internet news feed will air the press conference?

 

CNBC (Live) on Justin.tv

 

watch cnbc on internet tv

[Tams 20]

Wednesday May 18

 

FOMC Minutes

2:00 PM ET

[Mysticforex 13]

Thx TAMS ! I see you got all dressed up for the event !

[Tams 20]

that's what they said..........

 

FOMC Minutes

 

Highlights

 

The minutes of the Fed's April 26-27 policy meeting gave a little more detail about the internal debate over when and how to begin unwinding currently very accommodative policy. Much has already been discussed by Chairman Bernanke at his first post-FOMC press conference and in speeches by some District Bank presidents. There was little dissention regarding the current status of policy although some indicated they saw little benefit from additional quantitative easing but so little reason to not finish QE2 since completion is close. Regarding inflation, most saw the recent effects of recent oil price hikes as transitory. Most within the FOMC see the fed funds rate as the preferred active tool for tightening but for now most see an end to reinvestment of pay down on mortgage-backed securities and agency debt as the first step in tightening. For the long-term, most are arguing for a "corridor" system of fed interest rates with interest on excess reserves at the bottom, the discount rate at the top, and the fed funds rate in the middle. For the long term, the FOMC wants to return the balance sheet to Treasuries only.

 

Staff economists helped to set the stage for the policy debate by giving a presentation on strategies for normalizing the stance and conduct of monetary policy over time as the economy strengthens. The staff differentiated between normalizing the stance of policy and the conduct of policy.

 

"Normalizing the stance of policy would entail the withdrawal of the current extraordinary degree of accommodation at the appropriate time, while normalizing the conduct of policy would involve draining the large volume of reserve balances in the banking system and shrinking the overall size of the balance sheet, as well as returning the SOMA [system Open Market Account] to its historical composition of essentially only Treasury securities."

 

For the first, the Fed will need to return to a neutral stance from the current accommodative stance. For the second, that means shrinking the balance sheet back to a level reflecting slow, long-term growth and using the fed funds rate as the primary policy tool.

 

But along the way, the Fed has to choose whether to unwind initially more with rate increases or balance sheet shrinkage or a combination of both.

 

"The first key issue was the extent to which the Committee would want to tighten policy, at the appropriate time, by increasing short-term interest rates, by decreasing its holdings of longer-term securities, or both. Because the two policies would restrain economic activity by tightening financial conditions, they could be combined in various ways to achieve similar outcomes. For example, in principle, the Committee could accomplish essentially the same degree of monetary tightening by selling assets sooner and faster but raising the target for the federal funds rate later and more slowly, or by selling assets later and more slowly but increasing the federal funds rate target sooner and faster."

 

The FOMC agreed on several principles to guide normalization of policy. First, the pace and sequencing of the policy steps would be driven by the Committee's monetary policy objectives for maximum employment and price stability. Second, in the intermediate term, the balance sheet would be would be reduced so that implementation of monetary policy would be through management of the fed funds rate instead of size or balance sheet composition. Third, the balance sheet would be returned to Treasuries only. And fourth, asset sales would be communicated to the public in advance.

 

As already noted during the chairman's press conference and in the earlier release of Fed forecasts, FOMC participants downgraded their forecast for GDP growth in 2011 while bumping up the 2011 inflation forecast. Nonetheless, members decided to indicate that the economic recovery was proceeding at a moderate pace and that overall conditions in the labor market were gradually improving.

 

Today's minutes primarily add depth to the debate over conduct of monetary policy over the next few years. While the Fed likely will raise interest rates not long into 2012 if not a little sooner, it will take years for the balance sheet to be returned to normal.

[Tams 20]

Tuesday Jun 21

FOMC Meeting Begins

 

 

Wednesday Jun 22

 

FOMC Meeting Announcement

12:30 PM ET

 

Chairman Press Conference

2:15 PM ET

[Tams 20]

Fed gloomier about the economy

 

 

NEW YORK (CNNMoney) -- The Federal Reserve has grown more pessimistic about the state of the U.S. economy.

 

At the conclusion of a two-day policy meeting, the central bank said that while the recovery is continuing at a moderate pace, growth is somewhat slower than expected. It also said the jobs market is "weaker than anticipated."

 

Federal Reserve gloomier on jobs, economic growth - Jun. 22, 2011

[Tams 20]

Tuesday Jul 12

 

FOMC Minutes

2:00 PM ET

[Tams 20]

FOMC Minutes

2:00 PM ET

[Jleon 10]

Do you think this is a good day to trade or to stand down? I have often wrestled with this. I know a lot of my trader friends refuse to trade on FOMC day, or any Fed day for that matter. I'm curious to hear what other's think.

 

Trading on Fed and other major market news are great times to trade but only if the DOM tells you so, if not you can get cut pretty bad. Have a good one!!

[Tams 20]

Tuesday Sep 20

FOMC Meeting Begins

 

 

Wednesday Sep 21

FOMC Meeting Announcement

2:15 PM ET

[Tams 20]

Economic Calendar - Bloomberg

 

Market Consensus Before Announcement

The FOMC announcement at 2:15 p.m. ET for the September 20-21 FOMC policy meeting is expected to leave the fed funds target rate unchanged at a range of zero to 0.25 percent. However, even though some FOMC members are leaning toward additional easing, it is hardly certain. Traders will be watching whether there is a vote for QE3 or the so-called "twist"-the extension of maturities of Treasuries that the Fed purchases. And we may see rate cutting action with the Fed's relatively new policy tool-interest paid on excess reserves.

 

There is no scheduled press conference by Chairman Bernanke.

[Tams 20]

FOMC Minutes

2:00 PM ET

[Tams 20]

Tuesday Nov 1

FOMC Meeting Begins

 

 

 

Wednesday Nov 2

FOMC Meeting Announcement

12:30 PM ET

 

 

 

 

[Tams 20]

FOMC Minutes

2:00 PM ET

[Tams 20]

Tuesday Jan 3, 2012

 

FOMC Minutes

2:00 PM ET

[Tams 20]

FOMC Meeting Announcement

12:30 PM ET

[Tams 20]

Chairman Press Conference

2:15 PM ET

[TheNegotiator 13]

fyi

 

fed statement

 

-------------------------

[Tams 20]

it's the election year... there is no place to go but up.

[TheNegotiator 13]

and if it doesn't(even if it does), there'll be QE3 right?

[MightyMouse 12]

and if it doesn't(even if it does), there'll be QE3 right?

 

TN,

 

Are you in the USA?

 

We are easily past QE3. Not sure which QE we are on.. The fed is the largest creditor of the USA but we are not printing money.

 

We are officially a Banana Republic country. Such is the case when debt : GDP > 1.

[khamore1 10]

I heard most of the days when the FOMC release their report are an “up” day in the US stock market

 

Does anyone here have statistics which kind of a day is going to be the “Day After” FOMC report?

[Tams 20]

I heard most of the days when the FOMC release their report are an “up” day in the US stock market

 

Does anyone here have statistics which kind of a day is going to be the “Day After” FOMC report?

 

if life is so simple, we would all be millionaires years ago.

[khamore1 10]

if life is so simple, we would all be millionaires years ago.

 

They have statistics for day before, and day after, for every major holiday,

 

since they have also statistic for FOMC day one would assume they will have the same for the day after…. Just a thought

[Tams 20]

FOMC Minutes

2:00 PM ET