ผลประชุมเฟด (FOMC) 3 มี.ค. 2563: ลดดอกเบี้ย 50 bp เหลือ 1.00–1.25%

ประโยคที่ตัดออกจากรอบก่อน (9)

• 1Information received since the Federal Open Market Committee met in December indicates that the labor market remains strong and that economic activity has been rising at a moderate rate.
• 2Job gains have been solid, on average, in recent months, and the unemployment rate has remained low.
• 3Although household spending has been rising at a moderate pace, business fixed investment and exports remain weak.
• 4On a 12-month basis, overall inflation and inflation for items other than food and energy are running below 2 percent.
• 5Market-based measures of inflation compensation remain low; survey-based measures of longer-term inflation expectations are little changed.
• 6Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability.
• 8The Committee judges that the current stance of monetary policy is appropriate to support sustained expansion of economic activity, strong labor market conditions, and inflation returning to the Committee's symmetric 2 percent objective.
• 10In determining the timing and size of future adjustments to the target range for the federal funds rate, the Committee will assess realized and expected economic conditions relative to its maximum employment objective and its symmetric 2 percent inflation objective.
• 11This assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial and international developments.

ตัวเลขหน้าประโยคที่ตัดออก = ลำดับในแถลงการณ์รอบก่อน

คำสั่งเรื่องงบดุล (ถ้อยคำทางการ)

• In light of recent and expected increases in the Federal Reserve's non-reserve liabilities, the Committee directs the Desk to continue purchasing Treasury bills at least into the second quarter of 2020 to maintain over time ample reserve balances at or above the level that prevailed in early September 2019.
• The Committee also directs the Desk to continue conducting term and overnight repurchase agreement operations at least through April 2020 to ensure that the supply of reserves remains ample even during periods of sharp increases in non-reserve liabilities, and to mitigate the risk of money market pressures that could adversely affect policy implementation.
• The Committee directs the Desk to continue rolling over at auction all principal payments from the Federal Reserve's holdings of Treasury securities and to continue reinvesting all principal payments from the Federal Reserve's holdings of agency debt and agency mortgage-backed securities received during each calendar month.
• Principal payments from agency debt and agency mortgage-backed securities up to $20 billion per month will continue to be reinvested in Treasury securities to roughly match the maturity composition of Treasury securities outstanding; principal payments in excess of $20 billion per month will continue to be reinvested in agency mortgage-backed securities.
• The Committee also directs the Desk to engage in dollar roll and coupon swap transactions as necessary to facilitate settlement of the Federal Reserve's agency mortgage-backed securities transactions.