FOMC-Erklärung vom 15. März 2020
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 außerplanmäßige Erklärung am 15. März 2020 veröffentlicht (March 15 (unscheduled) Meeting - 2020). Im Vergleich mit der vorherigen planmäßigen Erklärung vom 29. Januar 2020: 7 Sätze wurden geändert, 14 kamen hinzu, 0 wurden entfernt und 4 blieben gleich. In Wörtern: 405 hinzugefügt, 52 entfernt. Abstimmung über diese Erklärung: 1 Mitglied stimmte dagegen: Loretta J. Mester. Über die Erklärung vom 29. Januar 2020: Einstimmig.
Eine außerplanmäßige Erklärung (Fed-Kalender: „March 15 (unscheduled) Meeting - 2020“). Sie wird mit der vorherigen planmäßigen Erklärung verglichen; wegen des anderen Formats können viele Sätze geändert erscheinen. Der Vergleich mit der unmittelbar vorherigen Erklärung steht weiter unten.
FOMC-Erklärung · 15. März 2020
Geänderte Sätze gegenüber der vorherigen planmäßigen Erklärung (29. Januar 2020)
Außerplanmäßige Erklärungen, die dieser Vergleich überspringt: 3. März 2020
4 unverändert · 7 geändert · 14 neu · 0 entfernt · Wörter +405 / −52
- 29. Januar 2020
- Einstimmig.
- 15. März 2020
- 1 Mitglied stimmte dagegen: Loretta J. Mester.
The coronavirus outbreak has harmed communities and disrupted economic activity in many countries, including the United States.
Global financial conditions have also been significantly affected.
Available economic data show that the U.S. economy came into this challenging period on a strong footing.
Information received since the Federal Open Market Committee met in December January indicates that the labor market remains remained strong through February and that economic activity has been rising rose at a moderate rate.
Although household spending has been rising rose at a moderate pace, business fixed investment and exports remain remained weak.
More recently, the energy sector has come under stress.
Market-based measures of inflation compensation remain low have declined; survey-based measures of longer-term inflation expectations are little changed.
The effects of the coronavirus will weigh on economic activity in the near term and pose risks to the economic outlook.
In light of these developments, the Committee decided to maintain lower the target range for the federal funds rate at 1-1/2 to 1-3/4 0 to 1/4 percent.
The Committee expects to maintain this target range until it is confident that the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals.
The Committee judges that the current stance of monetary policy is appropriate to This action will help support sustained expansion of economic activity, strong labor market conditions, and inflation returning to the Committee's symmetric 2 percent objective.
The Committee will continue to monitor the implications of incoming information for the economic outlook, including information related to public health, as well as global developments and muted inflation pressures, and will use its tools and act as it assesses appropriate to support the appropriate path of the target range for the federal funds rate economy.
In determining the timing and size of future adjustments to the target range for the federal funds rate stance of monetary policy, the Committee will assess realized and expected economic conditions relative to its maximum employment objective and its symmetric 2 percent inflation objective.
The Federal Reserve is prepared to use its full range of tools to support the flow of credit to households and businesses and thereby promote its maximum employment and price stability goals.
To support the smooth functioning of markets for Treasury securities and agency mortgage-backed securities that are central to the flow of credit to households and businesses, over coming months the Committee will increase its holdings of Treasury securities by at least $500 billion and its holdings of agency mortgage-backed securities by at least $200 billion.
The Committee will also reinvest all principal payments from the Federal Reserve's holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities.
In addition, the Open Market Desk has recently expanded its overnight and term repurchase agreement operations.
The Committee will continue to closely monitor market conditions and is prepared to adjust its plans as appropriate.
Voting against this action was Loretta J. Mester, who was fully supportive of all of the actions taken to promote the smooth functioning of markets and the flow of credit to households and businesses but preferred to reduce the target range for the federal funds rate to 1/2 to 3/4 percent at this meeting.
In a related set of actions to support the credit needs of households and businesses, the Federal Reserve announced measures related to the discount window, intraday credit, bank capital and liquidity buffers, reserve requirements, and-in coordination with other central banks-the U.S. dollar liquidity swap line arrangements.
More information can be found on the Federal Reserve Board's website .
Die 4 unveränderten Sätze zeigen
Job gains have been solid, on average, in recent months, and the unemployment rate has remained low.
On a 12‐month basis, overall inflation and inflation for items other than food and energy are running below 2 percent.
Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability.
This assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial and international developments.
Quelle: Board of Governors of the Federal Reserve System — die Erklärung auf federalreserve.gov · 29. Januar 2020
Verglichen mit der unmittelbar vorherigen Erklärung (3. März 2020)
FOMC-Erklärung · 15. März 2020
Geänderte Sätze gegenüber der vorherigen Erklärung (3. März 2020)
0 unverändert · 2 geändert · 23 neu · 2 entfernt · Wörter +586 / −46
- 3. März 2020
- Einstimmig.
- 15. März 2020
- 1 Mitglied stimmte dagegen: Loretta J. Mester.
The fundamentals of the U.S. economy remain strong.
However, the coronavirus poses evolving risks to economic activity.
The coronavirus outbreak has harmed communities and disrupted economic activity in many countries, including the United States.
Global financial conditions have also been significantly affected.
Available economic data show that the U.S. economy came into this challenging period on a strong footing.
Information received since the Federal Open Market Committee met in January indicates that the labor market remained strong through February and economic activity rose at a moderate rate.
Job gains have been solid, on average, in recent months, and the unemployment rate has remained low.
Although household spending rose at a moderate pace, business fixed investment and exports remained weak.
More recently, the energy sector has come under stress.
On a 12‐month basis, overall inflation and inflation for items other than food and energy are running below 2 percent.
Market-based measures of inflation compensation have declined; survey-based measures of longer-term inflation expectations are little changed.
Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability.
The effects of the coronavirus will weigh on economic activity in the near term and pose risks to the economic outlook.
In light of these risks and in support of achieving its maximum employment and price stability goals developments, the Federal Open Market Committee decided today to lower the target range for the federal funds rate by 1/2 percentage point, to 1 0 to 1-1/4 1/4 percent.
The Committee expects to maintain this target range until it is confident that the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals.
This action will help support economic activity, strong labor market conditions, and inflation returning to the Committee's symmetric 2 percent objective.
The Committee is closely monitoring developments and their will continue to monitor the implications of incoming information for the economic outlook, including information related to public health, as well as global developments and muted inflation pressures, and will use its tools and act as appropriate to support the economy.
In determining the timing and size of future adjustments to the stance of monetary policy, the Committee will assess realized and expected economic conditions relative to its maximum employment objective and its symmetric 2 percent inflation objective.
This assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial and international developments.
The Federal Reserve is prepared to use its full range of tools to support the flow of credit to households and businesses and thereby promote its maximum employment and price stability goals.
To support the smooth functioning of markets for Treasury securities and agency mortgage-backed securities that are central to the flow of credit to households and businesses, over coming months the Committee will increase its holdings of Treasury securities by at least $500 billion and its holdings of agency mortgage-backed securities by at least $200 billion.
The Committee will also reinvest all principal payments from the Federal Reserve's holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities.
In addition, the Open Market Desk has recently expanded its overnight and term repurchase agreement operations.
The Committee will continue to closely monitor market conditions and is prepared to adjust its plans as appropriate.
Voting against this action was Loretta J. Mester, who was fully supportive of all of the actions taken to promote the smooth functioning of markets and the flow of credit to households and businesses but preferred to reduce the target range for the federal funds rate to 1/2 to 3/4 percent at this meeting.
In a related set of actions to support the credit needs of households and businesses, the Federal Reserve announced measures related to the discount window, intraday credit, bank capital and liquidity buffers, reserve requirements, and-in coordination with other central banks-the U.S. dollar liquidity swap line arrangements.
More information can be found on the Federal Reserve Board's website .
Quelle: Board of Governors of the Federal Reserve System — die Erklärung auf federalreserve.gov · 3. März 2020
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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.
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Der Vergleich folgt einer festen Regel, nicht einem Modell, und liest nichts in den Text hinein.
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