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Posted by: thepinetree on 11/05/2020 11:40 AM Updated by: thepinetree on 11/05/2020 11:40 AM
Expires: 01/01/2025 12:00 AM
:

Federal Reserve Stays on Current Fiscal Policy Course

Washington, DC...The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals.  The COVID-19 pandemic is causing tremendous human and economic hardship across the United States and around the world. Economic activity and employment have continued to recover but remain well below their levels at the beginning of the year. Weaker demand and earlier declines in oil prices have been holding down consumer price inflation. Overall financial conditions remain accommodative, in part reflecting policy measures to support the economy and the flow of credit to U.S. households and businesses.





The path of the economy will depend significantly on the course of the virus. The ongoing public health crisis will continue to weigh on economic activity, employment, and inflation in the near term, and poses considerable risks to the economic outlook over the medium term.

The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. With inflation running persistently below this longer-run goal, the Committee will aim to achieve inflation moderately above 2 percent for some time so that inflation averages 2 percent over time and longer-term inflation expectations remain well anchored at 2 percent. The Committee expects to maintain an accommodative stance of monetary policy until these outcomes are achieved. The Committee decided to keep the target range for the federal funds rate at 0 to 1/4 percent and expects it will be appropriate to maintain this target range until labor market conditions have reached levels consistent with the Committee's assessments of maximum employment and inflation has risen to 2 percent and is on track to moderately exceed 2 percent for some time. In addition, over coming months the Federal Reserve will increase its holdings of Treasury securities and agency mortgage-backed securities at least at the current pace to sustain smooth market functioning and help foster accommodative financial conditions, thereby supporting the flow of credit to households and businesses.

In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee's goals. The Committee's assessments will take into account a wide range of information, including readings on public health, labor market conditions, inflation pressures and inflation expectations, and financial and international developments.

Voting for the monetary policy action were Jerome H. Powell, Chair; John C. Williams, Vice Chair; Michelle W. Bowman; Lael Brainard; Richard H. Clarida; Mary C. Daly; Patrick Harker; Robert S. Kaplan; Loretta J. Mester; and Randal K. Quarles. Ms. Daly voted as an alternate member at this meeting.

Implementation Note issued November 5, 2020


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Fed Election Determination
Posted on: 2020-11-05 12:40:06   By: Anonymous
 
If Biden wins, Powell will stop the pumping of Billions nightly into the stock market.
If dump wins (unlikely) Powell will taper off the Fed infusions propping up Wall St.

Either way, Wall St is in for a reckoning , as it gets off the Fed infusion of Billions just as a junkie has withdrawal illness.

dump had done much damage to the US economy with bone headed political moves such as the tariffs, They killed many small farmers in the Mid West, along with small manufacturing depending on imported aluminum and steel. Why these businesses voted for dump is a study on the propaganda bathed media of hate radio and Fox which is all that is available to them because of the media being bought by the Billionaires. If you constantly hear this propaganda even tho voting for the Republicans is not in your best interest, you do because you make the choice of what the media tells you. If the media is all reich wing, it seeps into your noggin, and you vote against your best interest.
dump has not made America great again, quite the opposite.

If you are concerned about the national debt, the dump bail outs for the farmers alone is over $28 Billion. American consumers paid an extra $57 Billion due to dump's misconceived tariffs.

Economists agree dump has screwed farmers, manufacturers, consumers.

The tariffs were a huge mistake, dump was warned, but he dies not listen to reason. The Covid scandal proved this.


[Reply ]

Hey Bitcoin guy wanting Bitcoin news
Posted on: 2020-11-05 17:04:13   By: Anonymous
 
https://arstechnica.com/information-technology/2020/11/someone-has-withdrawn-1-billion-from-a-bitcoin-wallet-dormant-since-2015/?utm_source=pocket&utm_medium=email&utm_campaign=pockethits

https://arstechnica.com/tech-policy/2020/11/feds-seize-1-billion-in-bitcoin-from-silk-road-drug-marketplace/?itm_source=parsely-api

read://https_arstechnica.com/?url=https%3A%2F%2Farstechnica.com%2Finformation-technology%2F2012%2F03%2Fbitcoins-worth-228000-stolen-from-customers-of-hacked-webhost%2F%3Fitm_source%3Dparsely-api

[Reply ]


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