Comunicado del FOMC del 18 de marzo de 2009
Este comunicado del Federal Open Market Committee, comparado frase por frase con el comunicado programado anterior: qué cambió en el texto y cómo votó el Comité.
En pocas palabras
El Federal Open Market Committee publicó este comunicado el 18 de marzo de 2009. Frente al comunicado programado anterior, del 28 de enero de 2009: 5 frases cambiaron, 7 se añadieron, 10 se eliminaron y 1 se mantuvo igual. En palabras: 268 añadidas, 329 eliminadas. La votación de este comunicado: Unánime. La del comunicado del 28 de enero de 2009: 1 miembro votó en contra: Jeffrey M. Lacker.
Comunicado del FOMC · 18 de marzo de 2009
Frases cambiadas frente al comunicado programado anterior (28 de enero de 2009)
1 sin cambios · 5 cambiadas · 7 añadidas · 10 eliminadas · palabras +268 / −329
- 28 de enero de 2009
- 1 miembro votó en contra: Jeffrey M. Lacker.
- 18 de marzo de 2009
- Unánime.
The Federal Open Market Committee decided today to keep its target range for the federal funds rate at 0 to 1/4 percent.
The Committee continues to anticipate that economic conditions are likely to warrant exceptionally low levels of the federal funds rate for some time.
Information received since the Federal Open Market Committee met in December suggests January indicates that the economy has weakened further continues to contract.
Industrial production, housing starts, and employment have continued to decline steeply, as consumers and businesses have cut back spending.
Furthermore, global demand appears to be slowing significantly.
Conditions in some financial markets have improved, in part reflecting government efforts to provide liquidity and strengthen financial institutions; nevertheless, credit conditions for households and firms remain extremely tight.
The Committee anticipates that a gradual recovery in economic activity will begin later this year, but the downside risks to that outlook are significant.
Job losses, declining equity and housing wealth, and tight credit conditions have weighed on consumer sentiment and spending.
Weaker sales prospects and difficulties in obtaining credit have led businesses to cut back on inventories and fixed investment.
U.S. exports have slumped as a number of major trading partners have also fallen into recession.
Although the near-term economic outlook is weak, the Committee anticipates that policy actions to stabilize financial markets and institutions, together with fiscal and monetary stimulus, will contribute to a gradual resumption of sustainable economic growth.
In light of the declines in the prices of energy and other commodities in recent months and the prospects for considerable increasing economic slack here and abroad, the Committee expects that inflation pressures will remain subdued in coming quarters.
In these circumstances, the Federal Reserve will employ all available tools to promote the resumption of sustainable economic growth recovery and to preserve price stability.
The focus of the Committee's policy is to support the functioning of financial markets and stimulate the economy through open market operations and other measures that are likely to keep the size of the Federal Reserve's balance sheet at a high level.
The Federal Reserve continues to purchase large quantities of agency debt and mortgage-backed securities to provide support to the mortgage and housing markets, and it stands ready to expand the quantity of such purchases and the duration of the purchase program as conditions warrant.
The Committee also is prepared to purchase longer-term Treasury securities if evolving circumstances indicate that such transactions would be particularly effective in improving conditions in private credit markets.
The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and anticipates that economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period.
To provide greater support to mortgage lending and housing markets, the Committee decided today to increase the size of the Federal Reserve's balance sheet further by purchasing up to an additional $750 billion of agency mortgage-backed securities, bringing its total purchases of these securities to up to $1.25 trillion this year, and to increase its purchases of agency debt this year by up to $100 billion to a total of up to $200 billion.
Moreover, to help improve conditions in private credit markets, the Committee decided to purchase up to $300 billion of longer-term Treasury securities over the next six months.
The Federal Reserve will be implementing has launched the Term Asset-Backed Securities Loan Facility to facilitate the extension of credit to households and small businesses and anticipates that the range of eligible collateral for this facility is likely to be expanded to include other financial assets.
The Committee will continue to carefully monitor carefully the size and composition of the Federal Reserve's balance sheet in light of evolving financial market developments and to assess whether expansions of or modifications to lending facilities would serve to further support credit markets and economic activity and help to preserve price stability developments.
Voting against was Jeffrey M. Lacker, who preferred to expand the monetary base at this time by purchasing U.S. Treasury securities rather than through targeted credit programs.
Mostrar la frase sin cambios
Moreover, the Committee sees some risk that inflation could persist for a time below rates that best foster economic growth and price stability in the longer term.
Fuente: Board of Governors of the Federal Reserve System — el comunicado en federalreserve.gov · 28 de enero de 2009
Cómo leer esta página
La página pone este comunicado del Federal Open Market Committee junto al programado anterior, frase por frase. Las frases de la Fed se muestran tal como se publicaron, en inglés.
En una frase cambiada, las palabras que salieron aparecen tachadas y las nuevas, subrayadas. Una frase que solo está en el comunicado posterior se marca como añadida; una que solo está en el anterior, como eliminada. Las frases sin cambios aparecen plegadas.
Las cifras dicen cuántas frases caen en cada uno de esos grupos y cuántas palabras se añadieron y se eliminaron. Cuentan cambios; no los ponderan.
Las líneas de votación muestran cómo votó el Comité cada comunicado y quién votó en contra, tal como lo indica el propio comunicado.
La comparación sigue una regla fija, no un modelo, y no interpreta el texto.
El texto de la Fed se muestra en su inglés original y no se traduce. Esta página solo muestra qué cambió en el texto; no es una lectura de dirección, tono ni riesgo, y no forma parte de la puntuación MVIE. MVIE Pro es investigación independiente y no está vinculado a la Reserva Federal.