Showing posts with label Press Conference. Show all posts
Showing posts with label Press Conference. Show all posts

2019-03-20

Federal Reserve Chairman's Press Conference LIVE Wednesday, March 20

FOMC Press Conference LIVE March 20, 2019, 2:30pm EDT

FOMC Press Conference LIVE March 20, 2019, at 2:30 pm EDT, with the Fed Chair, following FOMC Meeting associated with a Summary of Economic Projections. Summary: no rate-hikes in 2019, one rate-hike in 2020, and balance sheet normalization ends in September.

See also March 20, 2019 Balance Sheet Normalization Principles and Plans.

Domain: federalreserve.gov
Effective Federal Funds Rate--Above: Jul 1954 - Feb 2019
The Federal Open Market Committee (FOMC) consists of twelve members--the seven members of the Board of Governors of the Federal Reserve System; the president of the Federal Reserve Bank of New York; and four of the remaining eleven Reserve Bank presidents, who serve one-year terms on a rotating basis. The rotating seats are filled from the following four groups of Banks, one Bank president from each group: Boston, Philadelphia, and Richmond; Cleveland and Chicago; Atlanta, St. Louis, and Dallas; and Minneapolis, Kansas City, and San Francisco. Nonvoting Reserve Bank presidents attend the meetings of the Committee, participate in the discussions, and contribute to the Committee's assessment of the economy and policy options.
The FOMC holds eight regularly scheduled meetings per year. At these meetings, the Committee reviews economic and financial conditions, determines the appropriate stance of monetary policy, and assesses the risks to its long-run goals of price stability and sustainable economic growth.
2019 FOMC Members:
Alternate Members:

Fed Chairman Powell at FOMC Press Conference January 30, 2019

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2018-12-19

Federal Reserve Chairman's Press Conference LIVE Wednesday, Dec 19

FOMC Press Conference LIVE December 19, 2018

"In view of realized and expected labor market conditions and inflation, the Committee decided to raise the target range for the federal funds rate to 2-1/4 to 2-1/2 percent."--FOMC Press Release, Dec 19, 2018 (pdf). Voting for the FOMC monetary policy action were: Jerome H. Powell, Chairman; John C. Williams, Vice Chairman; Thomas I. Barkin; Raphael W. Bostic; Michelle W. Bowman; Lael Brainard; Richard H. Clarida; Mary C. Daly; Loretta J. Mester; and Randal K. Quarles. See also Implementation Note issued December 19, 2018.

FOMC Meeting December 18-19. 2018: The Federal Reserve's highly-anticipated December Federal Open Market Committee (FOMC) meeting, Tuesday-Wednesday, December 18-19, 2018. Consensus of economists is that the Fed will raise interest rates by a quarter-point to a range of between 2.25% and 2.50% and that the Fed's closely-watched dot plot will indicate two rate hikes in 2019. Any indication of the Fed's plans for the future may have an even greater impact on markets and many analysts will closely follow the LIVE press conference of Federal Reserve Chairman Jerome Powell, at 2:30 p.m. EST, Dec 19, 2018. “Fed drift” is a known market anomaly, where the S&P 500 often generates most of its annual return in the 3 days around Federal Reserve meetings.
On Monday, DoubleLine Capital CEO Jeff Gundlach told CNBC-TV that the Federal Reserve should not hike its benchmark overnight lending rate in December. "I think they shouldn't raise them this week. The bond market is basically saying, 'Fed you've got no way you should be raising interest rates,"  said Gundlach.
The Federal Open Market Committee (FOMC) consists of twelve members--the seven members of the Board of Governors of the Federal Reserve System; the president of the Federal Reserve Bank of New York; and four of the remaining eleven Reserve Bank presidents, who serve one-year terms on a rotating basis. The rotating seats are filled from the following four groups of Banks, one Bank president from each group: Boston, Philadelphia, and Richmond; Cleveland and Chicago; Atlanta, St. Louis, and Dallas; and Minneapolis, Kansas City, and San Francisco. Nonvoting Reserve Bank presidents attend the meetings of the Committee, participate in the discussions, and contribute to the Committee's assessment of the economy and policy options.

The FOMC holds eight regularly scheduled meetings per year. At these meetings, the Committee reviews economic and financial conditions, determines the appropriate stance of monetary policy, and assesses the risks to its long-run goals of price stability and sustainable economic growth.
Federal Reserve Chairman Jerome Powell at his FOMC Press Conference September 26, 2018
2018 FOMC Committee Members:
Alternate Members:


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2018-09-26

FOMC meeting, Fed Chairman's LIVE Press Conference Sep 26

FOMC Press Conference September 26, 2018

FOMC meeting on September 25-26, 2018: this meeting is associated with a Summary of Economic Projections and a press conference by the Federal Reserve Chair Jerome ("Jay") Powell. The 25 basis point increase to a 2.00% - 2.25% target for the fed funds rate was expected. Fed Funds Futures odds here.

The 2:30 pm EDT press conference did include a question about trade policy although Chairman Powell has avoided this issue in the past. Will tariffs cause inflation, increasing the need for more rate hikes, or chill spending and capital investment, negating further need for higher interest rates?

Domain: federalreserve.gov
Fed Chairman Powell
FOMC Summary of Economic Projections for the Fed Funds Rate Jan 2018 - Jan 2020, Median (FEDTARMD)



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2018-06-13

Federal Reserve FOMC Policy Meeting June 12-13, Interest Rate Hike

FOMC Press Conference

LIVE June 13, 2018, at 2:30pm EDT.

The Federal Reserve (federalreserve.gov) FOMC started its two-day policy meeting on Tuesday, and as expected announced another increase in near-term interest rates of 25 basis points [0.25%] on Wednesday, as well as release a Summary of Economic Projections. A press conference by the Federal Reserve Chairman Jerome H. Powell scheduled for Wednesday afternoon at approximately 2:30 pm EDT, LIVE here embed above.
FOMC's target federal funds rate or range, change (basis points) and level
The Fed - Federal Open Market Committee (FOMC) | federalreserve.gov: 2018 Committee Members Jerome H. Powell, Board of Governors, Chairman; William C. Dudley, New York, Vice Chairman; Thomas I. Barkin, Richmond; Raphael W. Bostic, Atlanta; Lael Brainard, Board of Governors; Loretta J. Mester, Cleveland; Randal K. Quarles, Board of Governors; John C. Williams, San Francisco.

Compare the above rates with the European Central Bank(ECB) rates:

@FederalReserve


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2018-03-21

Charles Schwab: The Fed Still A Long Way From Normalizing Interest Rates

UPDATE: FOMC Live Press Conference March 21, 2018
LIVE 2:30 pm EDT March 21, 2018

Federal Reserve Monetary Policy:

3/21/2018 Federal Reserve Board and Federal Open Market Committee release economic projections from the March 20-21 FOMC meeting

3/21/2018 Federal Reserve issues FOMC statement (0.25 increase), excerpt:
"In view of realized and expected labor market conditions and inflation, the Committee decided to raise the target range for the federal funds rate to 1-1/2 to 1-3/4 percent. The stance of monetary policy remains accommodative, thereby supporting strong labor market conditions and a sustained return to 2 percent inflation."
The Fed is still a long way from normalizing interest rates says Charles Schwab:

FoxBusiness.com video above published Mar 16, 2018:  Charles Schwab Corporation founder Charles Schwab discusses the Fed, President Trump’s tariffs plan and the impact on the U.S. labor force.

NASDAQ Composite UP +6.68% this year (since close of trading in 2017).
The Fed | 2018 Meeting calendars and information:
March 20-21* -- March 21 at 2:30 p.m. EDT:  FOMC Meeting Press Conference
May 1-2
June 12-13*
Jul/Aug 31-1
September 25-26*
November 7-8
December 18-19*
*Meeting associated with a Summary of Economic Projections and a press conference by the Chair.

Chairman Powell Introduction Video

Federal Reserve Board video above published Feb 5, 2018. Chairman Powell's bio.


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2017-12-13

Federal Reserve FOMC Interest Rates Announcement & Press Conference

FOMC Press Conference December 13, 2017:

LIVE Wednesday, Dec 13, 2017: Fed Chair Janet Yellen's FOMC press conference scheduled for 2:30 pm EST. Her previous FOMC Press Conference was September 20, 2017 (pdf), video available here.

UPDATE: The U.S. central bank--the Federal Reserve (domain: federalreserve.gov) or "the Fed"--started its two-day monetary policy meeting on Tuesday and its FOMC (Federal Open Market Committee) and on Wednesday made its announcement on interest rates:
"The Board of Governors of the Federal Reserve System voted unanimously to raise the interest rate paid on required and excess reserve balances to 1.50 percent, effective December 14, 2017 ... Effective December 14, 2017, the Federal Open Market Committee directs the Desk to undertake open market operations as necessary to maintain the federal funds rate in a target range of 1-1/4 to 1-1/2 percent, including overnight reverse repurchase operations (and reverse repurchase operations with maturities of more than one day when necessary to accommodate weekend, holiday, or similar trading conventions) at an offering rate of 1.25 percent, in amounts limited only by the value of Treasury securities held outright in the System Open Market Account that are available for such operations and by a per-counterparty limit of $30 billion per day."--source: Dec 13 Implementation Note
Voting for the FOMC monetary policy action were Janet L. Yellen, Chair; William C. Dudley, Vice Chairman; Lael Brainard; Patrick Harker; Robert S. Kaplan; Jerome H. Powell; and Randal K. Quarles. Voting against the action were Charles L. Evans and Neel Kashkari, who preferred at this meeting to maintain the existing target range for the federal funds rate. Read more:
FOMC Statement: PDF | HTML; Implementation Note; Projection Materials PDF | HTML

Note: The Fed was expected to hike near-term interest rates, especially after last Friday's strong jobs report.

Roach: Fed Should Move Aggressively to Normalize Rates

Bloomberg.com video above published Dec 11, 2017: Stephen Roach, senior fellow at Yale University, discusses debt levels in Asia, including China, and his outlook for interest rate hikes from the Fed. He speaks on "Bloomberg Daybreak: Asia."

President Trump's nominee, Jerome Powell, will take over as Chair of the Board of Governors of the Federal Reserve System at the end of Janet Yellen's term, subject to confirmation by vote of the full U.S. Senate. On December 5, 2017, the Senate Banking Committee approved Powell's nomination to be Fed Chair in a 22-1 vote, with Senator Elizabeth Warren casting the lone dissenting vote, and therefore his nomination is expected to be confirmed before the next meeting of the FOMC.

See also:
Fed Policy, Interest Rates and the FOMC:
"The term "monetary policy" refers to the actions undertaken by a central bank, such as the Federal Reserve, to influence the availability and cost of money and credit to help promote national economic goals. The Federal Reserve Act of 1913 gave the Federal Reserve responsibility for setting monetary policy.
"The Federal Reserve controls the three tools of monetary policy--open market operations, the discount rate, and reserve requirements. The Board of Governors of the Federal Reserve System is responsible for the discount rate and reserve requirements, and the Federal Open Market Committee is responsible for open market operations. Using the three tools, the Federal Reserve influences the demand for, and supply of, balances that depository institutions hold at Federal Reserve Banks and in this way alters the federal funds rate. The federal funds rate is the interest rate at which depository institutions lend balances at the Federal Reserve to other depository institutions overnight.
"Changes in the federal funds rate trigger a chain of events that affect other short-term interest rates, foreign exchange rates, long-term interest rates, the amount of money and credit, and, ultimately, a range of economic variables, including employment, output, and prices of goods and services."--source: federalreserve.gov.

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2017-03-15

LIVE Video Replay: March 15 Federal Reserve FOMC Press Conference

FOMC Press Conference March 15, 2017, 2:30pm ET

Video above published March 15, 2017, by the U.S. Federal Reserve. Chair of the Federal Reserve Board of Governors is Janet Yellen.

 On March 15th, the FOMC raised the interest rate by 25 BPS as expected. Federal Open Market Committee statement--excerpt: "In view of realized and expected labor market conditions and inflation, the Committee decided to raise the target range for the federal funds rate to 3/4 to 1 percent. The stance of monetary policy remains accommodative, thereby supporting some further strengthening in labor market conditions and a sustained return to 2 percent inflation."
Graphic: DJIA and S&P500 closed UP Wednesday after FOMC Rate Hike
DJIA and S&P500 closed UP Wednesday after FOMC Rate Hike
FRB: Monetary Policy: "Federal Open Market Committee Monetary policy is made by the Federal Open Market Committee (FOMC), which consists of the members of the Board of Governors of the Federal Reserve System and five Reserve Bank presidents. The FOMC holds eight regularly scheduled meetings during the year, and other meetings as needed."
Fed Statement Tracker | WSJ.com: The Federal Reserve releases a statement at the conclusion of each of its policy-setting meetings, outlining the central bank’s economic outlook and the actions it plans to take. Pundits and traders parse the changes between statements closely to see how policy makers’ views are evolving. Use the tool at the link above to compare any two statements since 2007.
@FederalReserve #FOMC:


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2017-01-11

LIVE Video Stream: Donald Trump's First Press Conference Since Election

LIVE Stream Replay: Donald Trump Press Conference Jan 11, 2017:

Video above scheduled for:  Wednesday, Jan 11, 2017, 11:00am EST. President-elect Donald J. Trump 's News Conference, his first since winning the 2016 election. 
Also on Wednesday, Secretary State Nominee, Exxon Mobil CEO Rex Tillerson testifies at his confirmation hearing before the Senate Foreign Relations Committee:

Video above: Rex Tillerson confirmation hearing Wednesday, Jan 11, 9:15am EST.

Why is Trump's Press Conference important?
  1. Dow Jones (DJIA) Futures Reverse Gains Ahead of Trump News Conference | EconomicCalendar.com: "Dow industrials reversed course to finish lower on Tuesday [Jan 10], as jittery investors awaited a press conference from President-elect Donald Trump on Wednesday. The Dow Jones Industrial Average settled down 31.85 points, or 0.2%, at 19,855.53, its lowest since December 30. The benchmark drifted between gains and losses, and at one point looked poised to make another attempt at the 20,000 milestone."
  2. Nasdaq closes at 4th straight record—marks best such streak since 1999 | MarketWatch.com: "The Nasdaq Composite notched its fourth record close in a row Tuesday [Jan 10], representing the longest stretch of record closes for the tech-heavy index since 1999. Fresh all-time highs for the Nasdaq came as the Dow industrials failed to reach the psychologically significant level of 20,000 again, amid otherwise tepid enthusiasm for equities ahead of a news conference from President-elect Donald Trump set for Wednesday—his first since being elected on Nov. 8."
“If Donald Trump succeeds to cheer up investors at this week’s conference, we could see a fresh rally in the U.S. stocks and the U.S. dollar. Therefore, the upside risks prevail in the U.S. markets”--Ipek Ozkardeskaya, senior market analyst, London Capital Group, note to investors.
DJIA January 10, 2017 (source: google.com)

Trump's Cabinet picks appear to be much stronger than Clinton's would have been, even Sarah Jones of the liberal New Republic seems to agree:
"Clinton had a team in waiting. By Election Day, her roster was so refined that most jobs just had one name. Here's her prospective Cabinet and West Wing staff, based on interviews with numerous Clinton insiders."--Mike Allen, Axios.com. See also: Consortiumnews.com: "... the think tank run by Michele Flournoy, the former Defense Department official considered to be most likely to be Clinton’s choice to be Secretary of Defense, explicitly called for “limited military strikes” against the Assad regime." Here's a partial listing of what Hillary's Cabinet would have looked like:

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2016-12-14

U.S. Federal Reserve FOMC Press Conference LIVE Video Replay 12/14/16

FOMC Press Conference, December 14, 2016:

Streamed LIVE December 14, 2016, at 2:30 pm EST (US): Federal Open Market Committee (FOMC) Press Conference

See also:

About the FOMC (source: federalreserve.gov):

 The term "monetary policy" refers to the actions undertaken by a central bank, such as the Federal Reserve, to influence the availability and cost of money and credit to help promote national economic goals. The Federal Reserve Act of 1913 gave the Federal Reserve responsibility for setting monetary policy.

 The Federal Reserve controls the three tools of monetary policy--open market operations, the discount rate, and reserve requirements. The Board of Governors of the Federal Reserve System is responsible for the discount rate and reserve requirements, and the Federal Open Market Committee is responsible for open market operations. Using the three tools, the Federal Reserve influences the demand for, and supply of, balances that depository institutions hold at Federal Reserve Banks and in this way alters the federal funds rate. The federal funds rate is the interest rate at which depository institutions lend balances at the Federal Reserve to other depository institutions overnight.

 Changes in the federal funds rate trigger a chain of events that affect other short-term interest rates, foreign exchange rates, long-term interest rates, the amount of money and credit, and, ultimately, a range of economic variables, including employment, output, and prices of goods and services.

 Structure of the FOMC

 The Federal Open Market Committee (FOMC) consists of twelve members--the seven members of the Board of Governors of the Federal Reserve System; the president of the Federal Reserve Bank of New York; and four of the remaining eleven Reserve Bank presidents, who serve one-year terms on a rotating basis. The rotating seats are filled from the following four groups of Banks, one Bank president from each group: Boston, Philadelphia, and Richmond; Cleveland and Chicago; Atlanta, St. Louis, and Dallas; and Minneapolis, Kansas City, and San Francisco. Nonvoting Reserve Bank presidents attend the meetings of the Committee, participate in the discussions, and contribute to the Committee's assessment of the economy and policy options.

 The FOMC holds eight regularly scheduled meetings per year. At these meetings, the Committee reviews economic and financial conditions, determines the appropriate stance of monetary policy, and assesses the risks to its long-run goals of price stability and sustainable economic growth.

 For more detail on the FOMC and monetary policy, see section 2 of the brochure on the structure of the Federal Reserve System and chapter 2 of Purposes & Functions of the Federal Reserve System. FOMC Rules and Authorizations are also available online.

 2016 Committee Members
Janet L. Yellen, Board of Governors, Chair
William C. Dudley, New York, Vice Chairman
Lael Brainard, Board of Governors
James Bullard, St. Louis
Stanley Fischer, Board of Governors
Esther L. George, Kansas City
Loretta J. Mester, Cleveland
Jerome H. Powell, Board of Governors
Eric Rosengren, Boston
Daniel K. Tarullo, Board of Governors

 Alternate Members
Charles L. Evans, Chicago
Patrick Harker, Philadelphia
Robert S. Kaplan, Dallas
Neel Kashkari, Minneapolis
Michael Strine, First Vice President, New York
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2015-02-10

Fadi Chehade on Domain Hoggers, IANA Transition (ICANN 52 video); US NTIA Pressures Stakeholders

ICANN52 Press Conference video below
ICANN President and CEO Fadi Chehadé, Board Chair Dr. Steve Crocker, and President of the Global Domains Division Akram Atallah, answer journalists questions during the ICANN52 press conference on February 9, 2015. Video begins at a point [33:18] where Fadi Chehade is asked about his public statements about domain hogging. After that Steve Crocker and Chehade address the IANA transition and the US 2016 election. People attending the ICANN 52 meeting in Singapore this week have been complaining on Twitter about the heavy-handed pressure being applied by the United States government and ICANN on attendees to hurry-up the IANA transition process and hand everything over to ICANN (see below). Ira Magaziner was a featured speaker at the ICANN 52 Opening Session this week in Singapore, see: Political Windows Open And Close, Says ICANN President; Seeks End Of Prep For IANA Transition: "Ira Magaziner, pushed for urgency in finalising the proposal for the future oversight of the private names and numbers regime."

 Magaziner was also selected by ICANN's PEG--NTIA's Larry Strickling is one of the four members of PEG--to be an "Advisor" to sit on the Cross Community Working Group on Enhancing ICANN Accountability (CCWG). Many in the Internet community remember that Magaziner reportedly threatened Jon Postel in 1998:

Internet Assigned Numbers Authority - Wikipedia: "In January 1998, Postel was threatened by US Presidential science advisor Ira Magaziner with the statement "You'll never work on the Internet again" after Postel collaborated with root server operators to test using a root server other than Network Solutions' "A" root to act as the authority over the root zone.* Demonstrating that control of the root was from the IANA rather than from Network Solutions would have clarified IANA's authority to create new top-level domains as a step to resolving the DNS Wars, but he ended his effort after Magaziner's threat, and died not long after." (emphasis added)

 *Jon Postel - Wikipedia: "On January 28, 1998, Postel, as a test, emailed eight of the twelve operators of Internet's regional root nameservers on his own authority and instructed them to change the root zone server from then SAIC subsidiary Network Solutions (NSI)'s A.ROOT-SERVERS.NET (198.41.0.4) to IANA's DNSROOT.IANA.ORG (198.32.1.98). The operators complied with Postel's instructions, thus dividing control of Internet naming between the non-government operators with IANA and the 4 remaining U.S. Government roots at NASA, DoD, and BRL with NSI...."
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2014-08-28

LIVE video: World Economic Forum NETmundial Initiative


Scheduled start time Thursday for the first session 11 am (Geneva/CEST) - 5 am EDT (US) - event time converter

World Economic Forum, NETmundial Initiative - Initial Scoping Meeting
Initiative Brief / FAQ / Agenda / Participants

A broad-based, multi-stakeholder approach to the governance of the internet is essential to social progress and economic development. Inspired by the NETmundial meeting in Sao Paolo, Brazil in April 2014, the World Economic Forum is hosting a meeting of leaders from government, business, civil society and academia in Geneva on Thursday August 28 to develop ways to help carry forward the spirit of NETmundial through further dialogue and concrete cooperation.

NETmundial Initiative - Press Conference  14.00 CEST, 28th Aug 2014

NETmundial Initiative - Debrief with Founding Partners 16.30 CEST, 28th Aug 2014





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