Federal Open Market Committee Minutes - Key Quotes
…members generally agreed that the risks to growth had diminished somewhat since the time of the last FOMC meeting while the upside risks to inflation had increased. Nonetheless, the risks to growth remained tilted to the downside.
Mr. Fisher dissented because he preferred an increase in the target federal [...]
Federal Open Market Committee Minutes - Key Quotes
Participants stressed the difficulty of gauging the appropriate stance of policy in current circumstances…Several participants expressed the view that the easing in monetary policy since last fall had not as yet led to a loosening in overall financial conditions, but rather had prevented financial conditions from tightening as [...]
Federal Open Market Committee Minutes - Key Quotes
March 10 Conference Call:
By improving conditions in funding markets, the [Term Securities Lending Facility] was expected to help restore the functioning of financial markets more generally and thereby promote the effective conduct of monetary policy as well as macroeconomic stability.
March 18 Meeting:
…some believed that a prolonged and severe [...]
Federal Open Market Committee Minutes - Key Quote
The economic projections provided by the members of the Board of Governors and the presidents of the Federal Reserve Banks help shape monetary policy and can aid public understanding of the basis for policy actions. Considerable uncertainty attends these projections, however. The economic and statistical models and relationships [...]
Federal Open Market Committee Minutes - Key Quotes
These developments, together with renewed strains in financial markets, suggested that growth in late 2007 and during 2008 was likely to be somewhat more sluggish than participants had indicated in their October projections….
Recent readings on inflation generally were seen as slightly less favorable than in earlier months, partly [...]
Federal Open Market Committee Minutes - Key Quote
In their discussion of the economic outlook and situation, and in the projections that they had submitted for this meeting, participants noted that economic activity had expanded at a somewhat faster pace in the third quarter than previously anticipated and that there was
scant evidence of negative spillovers from [...]
