Arab Today, arab today fed to unveil rate forecasts from january
Last Updated : GMT 11:35:21
Arab Today, arab today
Arab Today, arab today

Fed to unveil rate forecasts from January

Arab Today, arab today

Arab Today, arab today Fed to unveil rate forecasts from January

London - AFP

The Federal Reserve will begin to publish interest rate projections in economic forecasts this month, a major effort to improve communications with the public and financial markets. Fed officials at a December 13 policy-setting meeting "decided to incorporate information about their projections of appropriate monetary policy" into their quarterly economic outlook reports, the minutes of the meeting released Tuesday revealed. Analysts noted that minutes from Federal Open Market Committee (FOMC) meetings typically hold few surprises, but this time marked a huge leap toward transparency. "The Fed took a giant step towards enhancing the clarity and transparency of monetary policy by agreeing to include explicit interest rate forecasts in its quarterly projections," said Paul Edelstein at international consultancy IHS Global Insight. Some Fed officials are pressing for a further overhaul in communications, the minutes suggested. The Fed's interest rates information will be included in the next batch of US economic forecasts, known as the Summary of Economic Projections, at the end of a two-day FOMC meeting on January 25. "The SEP will include information about participants' projections of the appropriate level of the target federal funds rate in the fourth quarter of the current year and the next few calendar years, and over the longer run," the minutes said. In addition, the economic forecasts will include the FOMC's projections of the "likely timing" of the first increase in the target rate. "A number" of participants at the December meeting noted their "dissatisfaction" with the FOMC's current approach for communicating its views regarding the appropriate path for monetary policy, the minutes said. They "suggested further enhancements to the SEP," and Fed chairman Ben Bernanke asked a subcommittee "to explore such enhancements over coming months." The benchmark federal funds rate is the overnight interest rate used in interbank lending. The Fed has kept the rate ultra-low, between zero and 0.25 percentage point, since December 2008 in a bid to support recovery from steep recession. In its post-FOMC December statement, the policy makers reiterated that weak economic conditions "are likely to warrant exceptionally low levels for the federal funds rate at least through mid-2013." Only one member, Charles Evans, cast a dissenting vote, calling for more stimulus to jump-start the weak recovery. However, the minutes revealed divisions among participants over strategy. Some said the repeated reference to mid-2013 "might need to be adjusted before long." A number of members indicated that current and future economic conditions "could well warrant additional policy accommodation," but to be more effective, any further actions would need to be accompanied by better communication of the FOMC's longer-run goals and policy framework. A few others continued to argue that maintaining the extremely loose monetary policy beyond the near term "would likely be inappropriate" given their perspectives on economic activity and inflation. The minutes showed Fed policymakers had seen little change in economic conditions since their November 1-2 meeting, the last time they released economic projections on economic growth, unemployment and inflation. The economy was expanding moderately, inflation was tame and high unemployment -- at8.6 percent in November -- would decline only gradually. But the new communications approach on future rate changes should help the financial markets, said Michael Gregory at BMO Capital Markets. Gregory said it was unclear whether that would be on a quarterly or monthly basis "but this will assist the market in constructing the expected path for the Fed funds rate."

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today fed to unveil rate forecasts from january Arab Today, arab today fed to unveil rate forecasts from january

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 14:44 2017 Saturday ,25 February

China overtakes US as Germany’s top trade partner

GMT 05:53 2017 Saturday ,25 February

Global sovereign debt to hit new all-time high

GMT 05:17 2017 Saturday ,25 February

Oil world cautious on Trump’s next move

GMT 09:59 2017 Friday ,24 February

Baidu revenue slips anew amid ad clampdown

GMT 05:20 2017 Thursday ,23 February

WTO ratifies first multilateral trade deal
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday