synopsis of Fed Chairman’s

Please provide a synopsis of the attached Fed Chairman’s

January 30th 2019

September 18th 2019

January 29th 2020

Sept 19 2020

Please provide an overall summary of the Federal Reserve’s Chair Press Conferences

Include in your analysis

“The COVID-19 pandemic is causing tremendous human and economic hardship across the United States and around the world. Economic activity and employment have picked up in recent months but remain well below their levels at the beginning of the year. Weaker demand and significantly lower oil prices are holding down consumer price inflation. Overall financial conditions have improved in recent months, in part reflecting policy measures to support the economy and the flow of credit to U.S. households and businesses. ”

& also

“My colleagues and I have one overarching goal: to sustain the economic expansion, with a strong job market and stable prices, for the benefit of the American people. ”

How is this central objective achieved.

What was the FOMC’s decision in each case. What is the state of employment and inflation in the US economy.

What was the FOMC’s most recent decision.

How similar and how different was the press conference of the Fed chairperson after the meeting?

Elaborate on at least four subject matters that he presented.

Elaborate on at least three pertinent questions that the press asked.

Elaborate on the FOMC’s role in setting and implementing monetary policy.

Explain the mechanism of a rate cut by the FOMC and its impact, if any, in the US economy.

How is the federal reserve trying to effect the financial markets and the economy as a whole?

What was its policy prior and what is it after the 2020 pandemic?

FOMCpresconf20190130 FED.pdf

January 30, 2019Chairman Powell’s Press ConferencePRELIMINARYPage 1 of 24Transcript of Chairman Powell’s Press ConferenceJanuary 30, 2019CHAIRMAN POWELL: Good afternoon, everyone, and welcome. I will start with a recap of our discussions, including our assessment of the outlook for the economy, and the judgments we made about our interest rate policy and our balance sheet. I will cover the decisions we made today, as well as our ongoing discussions of matters on which we expect to make decisions in coming meetings. My colleagues and I have one overarching goal: to sustain the economic expansion, with a strong job market and stable prices, for the benefit of the American people. The U.S. economy is in a good place, and we will continue to use our monetary policy tools to help keep it there. The jobs picture continues to be strong, with the unemployment rate near historic lows and with stronger wage gains. Inflation remains near our 2 percent goal. We continue to expect that the American economy will grow at a solid pace in 2019, although likely slower than the very strong pace of 2018. We believe that our current policy stance is appropriate at this time. Despite this positive outlook, over the past few months we have seen some cross-currents and conflicting signals about the outlook. Growth has slowed in some major foreign economies, particularly China and Europe. There is elevated uncertainty around several unresolved government policy issues, including Brexit, ongoing trade negotiations, and the effects from the partial government shutdown in the United States. Financial conditions tightened considerably late in 2018, and remain less supportive of growth than they were earlier in 2018. And, while most of the incoming domestic economic data have been solid, some surveys of business and consumer sentiment have moved lower, giving reason for caution. We always emphasize that our policies are data dependent. In other words, as economic conditions and the outlook evolve, we take that new information into account in setting our

January 30, 2019Chairman Powell’s Press ConferencePRELIMINARYPage 2 of 24policies. We are now facing a somewhat contradictory picture of generally strong U.S. macroeconomic performance, alongside growing evidence of cross-currents. At such times, common sense risk management suggests patiently awaiting greater clarity–an approach that has served policymakers well in the past. With that in mind, I’d like to spell out how the Federal Open Market Committee (FOMC) has been thinking about these issues. At our December meeting, we noted the solid outlook for steady growth, vigorous job creation, and price stability. We also stressed that the extent and timing of any rate increases were uncertain, and would depend on incoming data and the evolving outlook. We therefore said that we would be paying close attention to global economic and financial developments and assessing their implications for the economic outlook. Today, the FOMC decided that the cumulative effects of those developments over the last several months warrant a patient, wait-and-see approach regarding future policy changes. In particular, our statement today says, “In light of global economic and financial developments and muted inflation pressures, the Committee will be patient as it determines what future adjustments to the target range for the federal funds rate may be appropriate.” This change was not driven by a major shift in the baseline outlook for the economy. Like many forecasters, we still see “sustained expansion of economic activity, strong labor market conditions, and inflation near … 2 percent” as the likeliest case. But the cross-currents I mentioned suggest the risk of a less-favorable outlook. In addition, the case for raising rates has weakened somewhat. The traditional case for rate increases is to protect the economy from risks that arise when rates are too low for too long, particularly the risk of too-high inflation. Over the past few months, that risk appears to havediminished. Inflation readings have been muted, and the recent drop in oil prices is likely to push

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