“I’m not in favor of chaining the Federal Open Market Committee to any rule whatsoever,” Federal Reserve Chair Janet Yellen said in reply to a question from Senate Banking Committee
A few points about Federal Reserve Chair Janet Yellen’s appearance before the Senate Banking Committee tomorrow morning and the House Financial Services Committee on Wednesday: ** First, expectations that Chair
We had two, no three, immediate reactions to this afternoon’s Minutes of the Federal Open market Committee January meeting. *** The first is that everything in the tone and the
This afternoon’s Minutes to the Federal Open Market Committee January meeting should serve as a prologue of sorts to Chair Janet Yellen’s twin Humphrey-Hawkins testimonies on Capitol Hill next week,
Everything in this morning’s Nonfarm Payroll numbers — yes, we know, one number a trend does not make — and for the majority of the Federal Open Market Committee every
As immensely difficult and fraught with risks as it may be for the Federal Open Market Committee over the next few months in weighing the timing to a rates lift-off,
There is not much to add to the release of the Federal Open Market Committee statement this afternoon, which came out almost exactly as we noted was likely in our
We have gotten quite a few incoming phone calls asking whether the Federal Open Market Committee statement in a few hours will turn distinctly more dovish and indicate a rate
Against the backdrop of the widening divergence between market pricing and the Federal Reserve’s “data dependent” path towards policy normalization, three issues seem key to us for the consensus slowly
There was plenty to weigh in the December Federal Open Market Committee meeting Minutes released this afternoon. For one, there was that generally reassuring optimism on the outlook going into
If there is any single takeaway from today’s Federal Open Market Committee, it is this definition of the new “patience” language introduced by Chair Janet Yellen in her opening remarks
We would normally hesitate before revisiting the debate over potential language changes so close to the Federal Open Market Committee’s December meeting statement this Wednesday afternoon, especially amid renewed volatility
As they head into their end-of-year meeting next week. Federal Open Market Committee members have a clearer sense of what they are likely to do in moving towards “policy normalization” than they are about how and
Two themes are foremost on the minds of the Federal Open Market Committee members as they head into their year-end December 16-17 meeting. Well, three really. *** A solid Committee
It would not surprise Federal Reserve officials if this morning’s Nonfarm Payroll came in at a healthy level. But whatever the breakdown of the numbers in this particular data point, the trend
Today’s Federal Open Market Committee statement included almost exactly what we would have expected from the FOMC – only not all for today, but in December. The Committee, in effect, pulled forward
No one, including Federal Reserve officials, would want to go through the wild ride in the markets of yesterday and the last two weeks. Today is likely to mark yet
Two takeaways on yesterday’s release of the September Federal Open Market Committee meeting Minutes: Misreading the Minutes on the dollar and low inflation First, we believe the market and media are way
When Federal Reserve officials kept stressing a “data dependent” policy path from here, they probably never imagined the starkly juxtaposed data that is currently unfolding. At least until a few
