Analisi Intermarket ....quelli che.... Investire&tradare - Cap. 2
- Creatore Discussione Dogtown
- Data di Inizio
...per vedere cose più lunghe bisogna rivolgersi a Nog
Dogtown
Forever Ultras Ghetto
For immediate release
Information received since the Federal Open Market Committee met in September generally suggests that economic activity has continued to expand at a moderate pace. Indicators of labor market conditions have shown some further improvement, but the unemployment rate remains elevated. Available data suggest that household spending and business fixed investment advanced, while the recovery in the housing sector slowed somewhat in recent months. Fiscal policy is restraining economic growth. Apart from fluctuations due to changes in energy prices, inflation has been running below the Committee's longer-run objective, but longer-term inflation expectations have remained stable.
Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee expects that, with appropriate policy accommodation, economic growth will pick up from its recent pace and the unemployment rate will gradually decline toward levels the Committee judges consistent with its dual mandate. The Committee sees the downside risks to the outlook for the economy and the labor market as having diminished, on net, since last fall. The Committee recognizes that inflation persistently below its 2 percent objective could pose risks to economic performance, but it anticipates that inflation will move back toward its objective over the medium term.
Taking into account the extent of federal fiscal retrenchment over the past year, the Committee sees the improvement in economic activity and labor market conditions since it began its asset purchase program as consistent with growing underlying strength in the broader economy. However, the Committee decided to await more evidence that progress will be sustained before adjusting the pace of its purchases. Accordingly, the Committee decided to continue purchasing additional agency mortgage-backed securities at a pace of $40 billion per month and longer-term Treasury securities at a pace of $45 billion per month. The Committee is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of rolling over maturing Treasury securities at auction. Taken together, these actions should maintain downward pressure on longer-term interest rates, support mortgage markets, and help to make broader financial conditions more accommodative, which in turn should promote a stronger economic recovery and help to ensure that inflation, over time, is at the rate most consistent with the Committee's dual mandate.
The Committee will closely monitor incoming information on economic and financial developments in coming months and will continue its purchases of Treasury and agency mortgage-backed securities, and employ its other policy tools as appropriate, until the outlook for the labor market has improved substantially in a context of price stability. In judging when to moderate the pace of asset purchases, the Committee will, at its coming meetings, assess whether incoming information continues to support the Committee's expectation of ongoing improvement in labor market conditions and inflation moving back toward its longer-run objective. Asset purchases are not on a preset course, and the Committee's decisions about their pace will remain contingent on the Committee's economic outlook as well as its assessment of the likely efficacy and costs of such purchases.
To support continued progress toward maximum employment and price stability, the Committee today reaffirmed its view that a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the asset purchase program ends and the economic recovery strengthens. In particular, the Committee decided to keep the target range for the federal funds rate at 0 to 1/4 percent and currently anticipates that this exceptionally low range for the federal funds rate will be appropriate at least as long as the unemployment rate remains above 6-1/2 percent, inflation between one and two years ahead is projected to be no more than a half percentage point above the Committee's 2 percent longer-run goal, and longer-term inflation expectations continue to be well anchored. In determining how long to maintain a highly accommodative stance of monetary policy, the Committee will also consider other information, including additional measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial developments. When the Committee decides to begin to remove policy accommodation, it will take a balanced approach consistent with its longer-run goals of maximum employment and inflation of 2 percent.
Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; William C. Dudley, Vice Chairman; James Bullard; Charles L. Evans; Jerome H. Powell; Eric S. Rosengren; Jeremy C. Stein; Daniel K. Tarullo; and Janet L. Yellen. Voting against the action was Esther L. George, who was concerned that the continued high level of monetary accommodation increased the risks of future economic and financial imbalances and, over time, could cause an increase in long-term inflation expectations.
Information received since the Federal Open Market Committee met in September generally suggests that economic activity has continued to expand at a moderate pace. Indicators of labor market conditions have shown some further improvement, but the unemployment rate remains elevated. Available data suggest that household spending and business fixed investment advanced, while the recovery in the housing sector slowed somewhat in recent months. Fiscal policy is restraining economic growth. Apart from fluctuations due to changes in energy prices, inflation has been running below the Committee's longer-run objective, but longer-term inflation expectations have remained stable.
Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee expects that, with appropriate policy accommodation, economic growth will pick up from its recent pace and the unemployment rate will gradually decline toward levels the Committee judges consistent with its dual mandate. The Committee sees the downside risks to the outlook for the economy and the labor market as having diminished, on net, since last fall. The Committee recognizes that inflation persistently below its 2 percent objective could pose risks to economic performance, but it anticipates that inflation will move back toward its objective over the medium term.
Taking into account the extent of federal fiscal retrenchment over the past year, the Committee sees the improvement in economic activity and labor market conditions since it began its asset purchase program as consistent with growing underlying strength in the broader economy. However, the Committee decided to await more evidence that progress will be sustained before adjusting the pace of its purchases. Accordingly, the Committee decided to continue purchasing additional agency mortgage-backed securities at a pace of $40 billion per month and longer-term Treasury securities at a pace of $45 billion per month. The Committee is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of rolling over maturing Treasury securities at auction. Taken together, these actions should maintain downward pressure on longer-term interest rates, support mortgage markets, and help to make broader financial conditions more accommodative, which in turn should promote a stronger economic recovery and help to ensure that inflation, over time, is at the rate most consistent with the Committee's dual mandate.
The Committee will closely monitor incoming information on economic and financial developments in coming months and will continue its purchases of Treasury and agency mortgage-backed securities, and employ its other policy tools as appropriate, until the outlook for the labor market has improved substantially in a context of price stability. In judging when to moderate the pace of asset purchases, the Committee will, at its coming meetings, assess whether incoming information continues to support the Committee's expectation of ongoing improvement in labor market conditions and inflation moving back toward its longer-run objective. Asset purchases are not on a preset course, and the Committee's decisions about their pace will remain contingent on the Committee's economic outlook as well as its assessment of the likely efficacy and costs of such purchases.
To support continued progress toward maximum employment and price stability, the Committee today reaffirmed its view that a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the asset purchase program ends and the economic recovery strengthens. In particular, the Committee decided to keep the target range for the federal funds rate at 0 to 1/4 percent and currently anticipates that this exceptionally low range for the federal funds rate will be appropriate at least as long as the unemployment rate remains above 6-1/2 percent, inflation between one and two years ahead is projected to be no more than a half percentage point above the Committee's 2 percent longer-run goal, and longer-term inflation expectations continue to be well anchored. In determining how long to maintain a highly accommodative stance of monetary policy, the Committee will also consider other information, including additional measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial developments. When the Committee decides to begin to remove policy accommodation, it will take a balanced approach consistent with its longer-run goals of maximum employment and inflation of 2 percent.
Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; William C. Dudley, Vice Chairman; James Bullard; Charles L. Evans; Jerome H. Powell; Eric S. Rosengren; Jeremy C. Stein; Daniel K. Tarullo; and Janet L. Yellen. Voting against the action was Esther L. George, who was concerned that the continued high level of monetary accommodation increased the risks of future economic and financial imbalances and, over time, could cause an increase in long-term inflation expectations.
Dogtown
Forever Ultras Ghetto
Nulla di nuovo se non il tassativo 6,5% di disoccupazione e l'inflazione al 2% e la velata minaccia di non avere un sentiero predeterminato su quanto acquistare e in che modo ridurlo a tempo debito.
Aspettiamo per vedere come reagiranno i vari mercati usa e il cross...poi domani...trick or treat
Dogtown
Forever Ultras Ghetto
The Fed said asset purchases are not on a” pre-set course.”
“In judging when to moderate the pace of asset purchases, the [Fed] will, at its coming meetings, assess whether incoming information continues to support the committee’s expectation of ongoing improvement in labor market conditions and inflation moving back toward its longer-run objective,” the Fed statement said.
The Fed will meet again on Dec. 17-18.
O’Sullivan said there was “no clear signal” from the Fed on when the central bank might scale back the purchases.
“So, while there was no suggestion that tapering will occur in December, there was certainly no effort to further discourage expectations,” he said.
O’Sullivan is one of a few economists who think the Fed could move in December.
Most economists think that the uncertainty stemming from the 16-day government shutdown will force the Fed to wait until 2014 before tapering. The central bank did not mention the shutdown in their policy statement.
“We continue to anticipate a flow of information that will not meet the bar until the March FOMC meeting,” said Julia Coronado, chief U.S. economist at BNP Paribas.
“For example, we think the October employment report will register a disappointing 100k gain in nonfarm payrolls, leaving the Fed firmly in wait and see mode,” Coronado said in a note to clients.
Attention will now turn to Nov. 14, when Fed Vice Chair Janet Yellen, President Barack Obama’s nominee to replace Bernanke as Fed chief, could go before the Senate Banking Committee for her nomination hearing.
The minutes of the meeting will be released on Nov. 20.
“In judging when to moderate the pace of asset purchases, the [Fed] will, at its coming meetings, assess whether incoming information continues to support the committee’s expectation of ongoing improvement in labor market conditions and inflation moving back toward its longer-run objective,” the Fed statement said.
The Fed will meet again on Dec. 17-18.
O’Sullivan said there was “no clear signal” from the Fed on when the central bank might scale back the purchases.
“So, while there was no suggestion that tapering will occur in December, there was certainly no effort to further discourage expectations,” he said.
O’Sullivan is one of a few economists who think the Fed could move in December.
Most economists think that the uncertainty stemming from the 16-day government shutdown will force the Fed to wait until 2014 before tapering. The central bank did not mention the shutdown in their policy statement.
“We continue to anticipate a flow of information that will not meet the bar until the March FOMC meeting,” said Julia Coronado, chief U.S. economist at BNP Paribas.
“For example, we think the October employment report will register a disappointing 100k gain in nonfarm payrolls, leaving the Fed firmly in wait and see mode,” Coronado said in a note to clients.
Attention will now turn to Nov. 14, when Fed Vice Chair Janet Yellen, President Barack Obama’s nominee to replace Bernanke as Fed chief, could go before the Senate Banking Committee for her nomination hearing.
The minutes of the meeting will be released on Nov. 20.
Dogtown
Forever Ultras Ghetto
Questo a sostegno dei report di Gipa: Retirees Replaced by Lower Paid Weigh on Growth: Economy - Bloomberg
foo fighter
Forumer storico
Grazie per le risposte e per i post, Gipa
gipa69
collegio dei patafisici
L'assalto ai massimi del DJIA è fallito e quindi non ho chiuso nonostante quanto avessi detto ma avrei dovuto incrementare lo short sullo spoore e così non ho fatto; sono di poco sotto ma son stato anche per un attimo verde e molto probabilmente avrei dovuto liquidare.... vedremo
European Equity Correlation Diverges [ANALYSIS]
European Equity Correlation Diverges [ANALYSIS]