Fomc statements 2003
of FOMC statements from newspapers, journals and newswires that are literature include Stock and Trebbi [2003], Antweiler and Frank [2004], Tetlock [ 2007], 12 Mar 2012 FOMC statements contain reliable information about future monetary pol- icy actions. We verify The August 2003 FOMC statement said, “The The exception in this period was 18 March 2003, when the FOMC released a statement that did not include a balance-of-risks assessment. Page 5. Central Bank With the federal funds rate at its effective lower bound by December 2008, the FOMC began to use its policy statement to provide forward guidance for the labor market conditions in FOMC minutes and statements has grown rapidly since are Krugman (1998) and Eggertsson and Woodford (2003), while Woodford. 4 Oct 2005 August 2003: The FOMC introduces. “forward-looking” language into its post- meeting press statement.1 This language suggested the probable Eggertsson and Woodford (2003), these types of guidance may be effective. As news in FOMC statements into news about the target and the path of monetary.
including the creation of the Federal Open Market Committee (FOMC) as a In response, he ordered the Fed to issue a one-sentence statement before the In 2003, the Federal Reserve changed its discount window operations so as to
He shows that the statements made by the FOMC in 2003 clarified the lower bound of its LIO and that the average of long-run inflation expectations responded in the wording of FOMC statements from meeting to meeting. 1977 1979 1981 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009. In Section 4, I report that the frequency with which the FOMC discussed the stock market The 2003 IMF World Economic Outlook estimates that the average From January 2003 to December 2013, the FOMC published 91 statements. Figure 1 shows the evolution across time of the ToneAB,t variable. Visually, central A strong Beige Book report might indicate that the FOMC is likely to notably, Kohn and Sack (2003) examine the effect of FOMC statements and Congressional FOMC statements contain reliable information about future monetary pol- icy actions. We verify that The August 2003 FOMC statement said, “The Committee of FOMC statements from newspapers, journals and newswires that are literature include Stock and Trebbi [2003], Antweiler and Frank [2004], Tetlock [ 2007],
6 Jan 2006 advance. In more recent papers, Lange, Sack & Whitesell (2003) and Swanson ( 2004) Fed's statements on the day of the FOMC meeting.
Release Date: December 9, 2003 For immediate release The Federal Open Market Committee decided today to keep its target for the federal funds rate at 1 percent.
The effective federal funds rate over time. This is a list of historical rate actions by the United States Federal Open Market Committee (FOMC). The FOMC controls the supply of credit to banks and the sale of treasury securities.The Federal Open Market Committee meets every two months during the fiscal year.
6 May 2009 Source: Annual Report of the Federal Reserve System (various); 1986. 1991. 1996. 2001. 2002. 2003. 2004. 2005. 2006. 2007. 2008 conditions, the FOMC explicitly declared in its December 16, 2008 statement that “The 25 Jun 2017 ing that their statements contain relatively more information after transparency than before. (2003) to tag every word in the FOMC transcripts. 15 May 2017 2003, Schonhart-Bailey 2013, Holmes 2014). determine whether the language used in FOMC statements over the years has become more or. 6 Jan 2006 advance. In more recent papers, Lange, Sack & Whitesell (2003) and Swanson ( 2004) Fed's statements on the day of the FOMC meeting. The Committee continues to believe that an accommodative stance of monetary policy, coupled with still-robust underlying growth in productivity, is providing important ongoing support to economic activity. The evidence accumulated over the intermeeting period shows that spending is firming, although labor market indicators are mixed. Release Date: May 6, 2003 For immediate release The Federal Open Market Committee decided to keep its target for the federal funds rate unchanged at 1-1/4 percent.
In mid-2003, an important development in FOMC communications occurred. The statement following the June 24-25 meeting, when the FOMC decided to lower the funds rate target to 1%, included explicit language about future monetary policy.
2003 ANNUAL REPORT FEDERAL RESERVE BANK OF DALLAS The FOMC establishes policy regarding open market operations, oversees these 6 May 2009 Source: Annual Report of the Federal Reserve System (various); 1986. 1991. 1996. 2001. 2002. 2003. 2004. 2005. 2006. 2007. 2008 conditions, the FOMC explicitly declared in its December 16, 2008 statement that “The 25 Jun 2017 ing that their statements contain relatively more information after transparency than before. (2003) to tag every word in the FOMC transcripts. 15 May 2017 2003, Schonhart-Bailey 2013, Holmes 2014). determine whether the language used in FOMC statements over the years has become more or. 6 Jan 2006 advance. In more recent papers, Lange, Sack & Whitesell (2003) and Swanson ( 2004) Fed's statements on the day of the FOMC meeting. The Committee continues to believe that an accommodative stance of monetary policy, coupled with still-robust underlying growth in productivity, is providing important ongoing support to economic activity. The evidence accumulated over the intermeeting period shows that spending is firming, although labor market indicators are mixed.
Release Date: May 6, 2003 For immediate release The Federal Open Market Committee decided to keep its target for the federal funds rate unchanged at 1-1/4 percent. Release Date: December 9, 2003 For immediate release The Federal Open Market Committee decided today to keep its target for the federal funds rate at 1 percent. The FOMC holds eight regularly scheduled meetings during the year and other meetings as needed. Links to policy statements and minutes are in the calendars below. The minutes of regularly scheduled meetings are released three weeks after the date of the policy decision. Committee membership changes at the first regularly scheduled meeting of the year.