16 Mart 2010 tarihli FOMC bildirisi
Federal Açık Piyasa Komitesi'nin bu bildirisi, kendinden önceki planlı bildiriyle cümle cümle karşılaştırılıyor: metinde ne değişti ve Komite nasıl oy verdi.
Kısaca
Federal Açık Piyasa Komitesi bu bildiriyi 16 Mart 2010 tarihinde yayımladı. 27 Ocak 2010 tarihli önceki planlı bildiriye göre: 7 cümle değişti, 3 cümle eklendi, 7 cümle çıkarıldı ve 3 cümle aynı kaldı. Kelime olarak: 131 eklendi, 236 çıkarıldı. Bu bildirinin oylaması: 1 üye karşı oy verdi: Thomas M. Hoenig. 27 Ocak 2010 bildirisinin oylaması: 1 üye karşı oy verdi: Thomas M. Hoenig.
FOMC bildirisi · 16 Mart 2010
Önceki planlı bildiriye (27 Ocak 2010) göre değişen cümleler
3 aynı · 7 değişti · 3 eklendi · 7 çıkarıldı · kelime +131 / −236
- 27 Ocak 2010
- 1 üye karşı oy verdi: Thomas M. Hoenig.
- 16 Mart 2010
- 1 üye karşı oy verdi: Thomas M. Hoenig.
Information received since the Federal Open Market Committee met in December January suggests that economic activity has continued to strengthen and that the deterioration in the labor market is abating stabilizing.
Household spending is expanding at a moderate rate but remains constrained by a weak labor market high unemployment, modest income growth, lower housing wealth, and tight credit.
Business spending on equipment and software has risen significantly.
Business spending on equipment and software appears to be picking up However, but investment in nonresidential structures is still contracting declining, housing starts have been flat at a depressed level, and employers remain reluctant to add to payrolls.
Firms have brought inventory stocks into better alignment with sales.
With substantial resource slack continuing to restrain cost pressures and with longer-term inflation expectations stable, inflation is likely to be subdued for some time.
To provide support to mortgage lending and housing markets and to improve overall conditions in private credit markets, the Federal Reserve is in the process of has been purchasing $1.25 trillion of agency mortgage-backed securities and about $175 billion of agency debt; those purchases are nearing completion, and the remaining transactions will be executed by the end of this month.
In order to promote a smooth transition in markets, the Committee is gradually slowing the pace of these purchases, and it anticipates that these transactions will be executed by the end of the first quarter.
The Committee will continue to evaluate its purchases of securities in light of the evolving economic outlook and conditions in financial markets.
In light of improved functioning of financial markets, the Federal Reserve will be closing 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 on February 1, as previously announced.
In addition, the temporary liquidity swap arrangements between the Federal Reserve and other central banks will expire on February 1.
The Federal Reserve is in the process of winding down its Term Auction Facility: $50 billion in 28-day credit will be offered on February 8 and $25 billion in 28-day credit will be offered at the final auction on March 8.
The Committee will continue to monitor the economic outlook and financial developments and will employ its policy tools as necessary to promote economic recovery and price stability.
In light of improved functioning of financial markets, the Federal Reserve has been closing the special liquidity facilities that it created to support markets during the crisis.
The anticipated expiration dates for only remaining such program, the Term Asset-Backed Securities Loan Facility remain set at , is scheduled to close on June 30 for loans backed by new-issue commercial mortgage-backed securities and on March 31 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.
Voting against the policy action was Thomas M. Hoenig, who believed that economic and financial conditions had changed sufficiently that continuing to express the expectation of exceptionally low levels of the federal funds rate for an extended period was no longer warranted because it could lead to the buildup of financial imbalances and increase risks to longer-run macroeconomic and financial stability.
Değişmeyen 3 cümleyi göster
While bank lending continues to contract, financial market conditions remain supportive of economic growth.
Although the pace of economic recovery is likely to be moderate for a time, the Committee anticipates a gradual return to higher levels of resource utilization in a context of price stability.
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.
Kaynak: Board of Governors of the Federal Reserve System — bildirinin kendisi (federalreserve.gov) · 27 Ocak 2010
Bu sayfa nasıl okunur
Sayfa Federal Açık Piyasa Komitesi'nin bu bildirisini kendinden önceki planlı bildiriyle cümle cümle yan yana koyar. Fed'in cümleleri yayımlandığı gibi, İngilizce gösterilir.
Değişen bir cümlede çıkan kelimeler üstü çizili, yeni kelimeler altı çizili görünür. Yalnız yeni bildiride olan cümle eklendi, yalnız eskisinde olan çıkarıldı diye işaretlenir. Değişmeyen cümleler kapalı durur.
Sayılar her gruba kaç cümle düştüğünü ve kaç kelime eklenip çıkarıldığını söyler. Değişiklikleri sayar, tartmaz.
Oylama satırları, bildirinin kendi yazdığı gibi, Komite'nin her bildiriye nasıl oy verdiğini ve kimin karşı oy verdiğini gösterir.
Karşılaştırmayı bir model değil sabit bir kural yapar; metinden bir anlam çıkarmaz.
Fed metni özgün İngilizcesiyle gösterilir, çevrilmez. Bu sayfa yalnız metinde neyin değiştiğini gösterir; yön, ton ya da risk okuması değildir ve MVIE skoruna girmez. MVIE Pro bağımsız bir araştırma projesidir; Federal Reserve ile bir bağı yoktur.