FOMC-Erklärung vom 13. September 2012
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 13. September 2012 veröffentlicht. Im Vergleich mit der vorherigen planmäßigen Erklärung vom 1. August 2012: 8 Sätze wurden geändert, 10 kamen hinzu, 6 wurden entfernt und 2 blieben gleich. In Wörtern: 322 hinzugefügt, 220 entfernt. Abstimmung über diese Erklärung: 1 Mitglied stimmte dagegen: Jeffrey M. Lacker. Über die Erklärung vom 1. August 2012: 1 Mitglied stimmte dagegen: Jeffrey M. Lacker.
FOMC-Erklärung · 13. September 2012
Geänderte Sätze gegenüber der vorherigen planmäßigen Erklärung (1. August 2012)
2 unverändert · 8 geändert · 10 neu · 6 entfernt · Wörter +322 / −220
- 1. August 2012
- 1 Mitglied stimmte dagegen: Jeffrey M. Lacker.
- 13. September 2012
- 1 Mitglied stimmte dagegen: Jeffrey M. Lacker.
Information received since the Federal Open Market Committee met in June August suggests that economic activity decelerated somewhat over the first half of this year has continued to expand at a moderate pace in recent months.
Growth in employment has been slow in recent months, and the unemployment rate remains elevated.
Business fixed investment has continued to advance.
Household spending has been rising at a somewhat slower pace than earlier in the year.
Household spending has continued to advance, but growth in business fixed investment appears to have slowed.
Despite The housing sector has shown some further signs of improvement, the housing sector remains albeit from a depressed level.
Inflation has declined since earlier this year, mainly reflecting lower prices of crude oil and gasoline, and longer-term inflation expectations have remained stable.
The Committee expects economic growth to remain moderate over coming quarters and then to pick up very gradually.
Consequently, the Committee anticipates that the unemployment rate will decline only slowly toward levels that it judges to be consistent with its dual mandate.
Inflation has been subdued, although the prices of some key commodities have increased recently.
Longer-term inflation expectations have remained stable.
The Committee is concerned that, without further policy accommodation, economic growth might not be strong enough to generate sustained improvement in labor market conditions.
The Committee also anticipates that inflation over the medium term will likely would run at or below the rate that it judges most consistent with its dual mandate 2 percent objective.
To support a stronger economic recovery and to help ensure that inflation, over time, is at the rate most consistent with its dual mandate, the Committee expects agreed today to maintain increase policy accommodation by purchasing additional agency mortgage-backed securities at a highly accommodative stance for monetary policy pace of $40 billion per month.
In particular, the Committee decided today to keep the target range for the federal funds rate at 0 to 1/4 percent and currently anticipates that economic conditions--including low rates of resource utilization and a subdued outlook for inflation over the medium run--are likely to warrant exceptionally low levels for the federal funds rate at least through late 2014.
The Committee also decided to will continue through the end of the year its program to extend the average maturity of its holdings of securities as announced in June, and it is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities.
These actions, which together will increase the Committee's holdings of longer-term securities by about $85 billion each month through the end of the year, should put downward pressure on longer-term interest rates, support mortgage markets, and help to make broader financial conditions more accommodative.
The Committee will closely monitor incoming information on economic and financial developments and will provide additional accommodation as needed to promote a stronger economic recovery and sustained improvement in labor market conditions in a context of price stability coming months.
If the outlook for the labor market does not improve substantially, the Committee will continue its purchases of agency mortgage-backed securities, undertake additional asset purchases, and employ its other policy tools as appropriate until such improvement is achieved in a context of price stability.
In determining the size, pace, and composition of its asset purchases, the Committee will, as always, take appropriate account of the likely efficacy and costs of such purchases.
To support continued progress toward maximum employment and price stability, the Committee expects that a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the economic recovery strengthens.
In particular, the Committee also decided today to keep the target range for the federal funds rate at 0 to 1/4 percent and currently anticipates that exceptionally low levels for the federal funds rate are likely to be warranted at least through mid-2015.
Voting against the action was Jeffrey M. Lacker, who opposed additional asset purchases and preferred to omit the description of the time period over which economic conditions are likely to warrant an exceptionally low level of levels for the federal funds rate are likely to be warranted.
Statement Regarding Transactions in Agency Mortgage-Backed Securities and Treasury Securities
Die 2 unveränderten Sätze zeigen
Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability.
Furthermore, strains in global financial markets continue to pose significant downside risks to the economic outlook.
Quelle: Board of Governors of the Federal Reserve System — die Erklärung auf federalreserve.gov · 1. August 2012
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.