FOMC-Erklärung vom 16. Dezember 2009
Diese Erklärung des Federal Open Market Committee, Satz für Satz mit der planmäßigen Erklärung davor verglichen: was sich im Text geändert hat und wie der Ausschuss abgestimmt hat.
Kurz gesagt
Das Federal Open Market Committee hat diese Erklärung am 16. Dezember 2009 veröffentlicht. Im Vergleich mit der vorherigen planmäßigen Erklärung vom 4. November 2009: 7 Sätze wurden geändert, 7 kamen hinzu, 4 wurden entfernt und 3 blieben gleich. In Wörtern: 227 hinzugefügt, 122 entfernt. Abstimmung über diese Erklärung: Einstimmig. Über die Erklärung vom 4. November 2009: Einstimmig.
FOMC-Erklärung · 16. Dezember 2009
Geänderte Sätze gegenüber der vorherigen planmäßigen Erklärung (4. November 2009)
3 unverändert · 7 geändert · 7 neu · 4 entfernt · Wörter +227 / −122
- 4. November 2009
- Einstimmig.
- 16. Dezember 2009
- Einstimmig.
Information received since the Federal Open Market Committee met in September November suggests that economic activity has continued to pick up and that the deterioration in the labor market is abating.
Conditions in financial markets were roughly unchanged, on balance, over the intermeeting period.
Activity in The housing sector has increased shown some signs of improvement over recent months.
Household spending appears to be expanding but at a moderate rate, though it remains constrained by ongoing job losses a weak labor market, sluggish modest income growth, lower housing wealth, and tight credit.
Businesses are still cutting back on fixed investment and staffing, though at a slower pace, and remain reluctant to add to payrolls; they continue to make progress in bringing inventory stocks into better alignment with sales.
Financial market conditions have become more supportive of economic growth.
Although economic activity is likely to remain weak for a time, the Committee anticipates that policy actions to stabilize financial markets and institutions, fiscal and monetary stimulus, and market forces will support contribute to a strengthening of economic growth and a gradual return to higher levels of resource utilization in a context of price stability.
In these circumstances, the Federal Reserve will continue to employ a wide range of tools to promote economic recovery and to preserve price stability.
To provide support to mortgage lending and housing markets and to improve overall conditions in private credit markets, the Federal Reserve will purchase a total is in the process of purchasing $1.25 trillion of agency mortgage-backed securities and about $175 billion of agency debt.
The amount of agency debt purchases, while somewhat less than the previously announced maximum of $200 billion, is consistent with the recent path of purchases and reflects the limited availability of agency debt.
In order to promote a smooth transition in markets, the Committee will is gradually slow slowing the pace of its these purchases of both agency debt , and agency mortgage-backed securities and it anticipates that these transactions will be executed by the end of the first quarter of 2010.
The Federal Reserve is monitoring the size and composition of its balance sheet and will make adjustments to its credit and liquidity programs as warranted.
In light of ongoing improvements in the functioning of financial markets, the Committee and the Board of Governors anticipate that most of the Federal Reserve's special liquidity facilities will expire on February 1, 2010, consistent with the Federal Reserve's announcement of June 25, 2009.
These facilities include the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility, the Commercial Paper Funding Facility, the Primary Dealer Credit Facility, and the Term Securities Lending Facility.
The Federal Reserve will also be working with its central bank counterparties to close its temporary liquidity swap arrangements by February 1.
The Federal Reserve expects that amounts provided under the Term Auction Facility will continue to be scaled back in early 2010.
The anticipated expiration dates for the Term Asset-Backed Securities Loan Facility remain set at June 30, 2010, for loans backed by new-issue commercial mortgage-backed securities and March 31, 2010, for loans backed by all other types of collateral.
The Federal Reserve is prepared to modify these plans if necessary to support financial stability and economic growth.
Die 3 unveränderten Sätze zeigen
With substantial resource slack likely to continue to dampen cost pressures and with longer-term inflation expectations stable, the Committee expects that inflation will remain subdued for some time.
The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and continues to anticipate that economic conditions, including low rates of resource utilization, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels of the federal funds rate for an extended period.
The Committee will continue to evaluate the timing and overall amounts of its purchases of securities in light of the evolving economic outlook and conditions in financial markets.
Quelle: Board of Governors of the Federal Reserve System — die Erklärung auf federalreserve.gov · 4. November 2009
So liest man diese Seite
Die Seite stellt diese Erklärung des Federal Open Market Committee Satz für Satz neben die planmäßige Erklärung davor. Die Sätze der Fed erscheinen wie veröffentlicht, auf Englisch.
In einem geänderten Satz sind gestrichene Wörter durchgestrichen und neue Wörter unterstrichen. Ein Satz, der nur in der neueren Erklärung steht, ist als neu markiert; einer, der nur in der älteren steht, als entfernt. Unveränderte Sätze sind eingeklappt.
Die Zahlen sagen, wie viele Sätze in jede dieser Gruppen fallen und wie viele Wörter hinzugefügt und entfernt wurden. Sie zählen Änderungen; sie gewichten sie nicht.
Die Abstimmungszeilen zeigen, wie der Ausschuss über jede Erklärung abgestimmt hat und wer dagegen stimmte, so wie die Erklärung selbst es angibt.
Der Vergleich folgt einer festen Regel, nicht einem Modell, und liest nichts in den Text hinein.
Der Text der Fed wird im englischen Original gezeigt und nicht übersetzt. Diese Seite zeigt nur, was sich im Text geändert hat; sie ist keine Lesart von Richtung, Ton oder Risiko und fließt nicht in den MVIE-Score ein. MVIE Pro ist unabhängige Forschung und steht in keiner Verbindung zur Federal Reserve.