Federal Reserve System

This tag is associated with 56 posts

When Will The Unemployment Rate end the Fed’s Easing Measures ?

The Federal Reserve’s is expected to extend its easing measures until the job market improves “substantially”, the stated goal is a decline of the unemployment rate to 6.5%. One can use the unemployment rate model to provide an estimate of the future unemployment rate (UER). This model suggests that the unemployment rate will decline to … Continue reading

US Unemployment Rate / Why Not Target a 3% ?

Sad to say, the Fed considers 5.2 percent to 6 percent the economy’s long-run normal rate of unemployment. Achieving that rate would be a vast improvement over today. Still, once upon a time and not all that long ago, America’s elites strived for full employment, a catchphrase now relegated to economic history. Full employment was … Continue reading

US / Possible Fed Successor, Janet Yellen, Has Admirers and Foes

Ms. Yellen is now widely viewed as a logical candidate to succeed the current Fed chairman, Ben S. Bernanke, when his term ends in January 2014. She has worked closely with him in shaping and building support for the Fed’s campaign to stimulate the economy and bring down unemployment. But some of Ms. Yellen’s critics … Continue reading

Low Interest Rates Didn’t Induce Job Growth finds Research by St-Louis FED

The Federal Reserve set the target range for the federal funds rate at 0 to 25 basis points in December 2008. It has remained there because the recovery in output and jobs has been so slow. The rate was set so low to stimulate aggregate demand and job growth (by lowering borrowing costs for consumers … Continue reading

US / ‘Price stability’ remains the policy advice even in the face of serious labor market inefficiencies says St. Louis Fed’s Bullard

Federal Reserve Bank of St. Louis President James Bullard gave remarks Wednesday on “Some Unpleasant Implications for Unemployment Targeters” at the 22nd Annual Hyman P. Minsky Conference. During his presentation, Bullard noted that the U.S. unemployment rate remains high by historical standards and that it has declined about 0.7 percentage points per year from its … Continue reading

US / Fed shifts focus from inflation to jobs

The focus on jobs represents a historic shift for the central bank that began with the 2008 financial crisis and has intensified in the face of four years of middling economic growth. But how much influence the central bank wields over unemployment remains an open question: It cannot direct businesses to hire or inspire entrepreneurs … Continue reading

Fed / Aggressive easing needed says Yellen in an address to AFL-CIO

The Federal Reserve’s aggressive easing of monetary policy is warranted given the still-battered state of the U.S. labor market, Fed Vice Chairwoman Janet Yellen said on Monday. In an address to the politically influential AFL-CIO, the largest U.S. labor group, Yellen, a potential successor to Fed Chairman Ben Bernanke next year, bemoaned the unusually weak … Continue reading

Fed’s Rosengren: unemployment is well above a longer-run sustainable rate

Aggressive policy easing will remain necessary for the simple reason that levels of both U.S. unemployment and inflation are not where the Federal Reserve wants them to be, a top U.S. central bank official said on Tuesday. In a textbook argument that appeared to push back at some of his more hawkish peers, Boston Fed … Continue reading

How Long Will it Take to Get to 6.5 Percent Unemployment? | Brookings Institution

Job Market Monitor : Last week, the FED said  that it will continue to stimulate growth until the unemployment rate falls to 6.5 percent or the inflation rate reaches 2.5 percent. The Fed said it did not expect unemployment to reach that benchmark until 2015. The Brooking Institute takes a look at it. *-* The … Continue reading

How to get to the 6.5% unemployment rate target: roughly 270,000 jobs each month

The Federal Reserve predicts it will keep stimulative policies in place until the unemployment rate falls to 6.5%. But just how many jobs will it take to get there? As of November, the unemployment rate was 7.7%. In order to drop to 6.5% immediately, it would require 1.9 million jobs to be created right now. … Continue reading

FED / Targeting unemployment and inflation

The Federal Reserve announced Wednesday that it will take unprecedented steps to bolster the economy, saying it will continue to stimulate growth until the unemployment rate falls to 6.5 percent or the inflation rate reaches 2.5 percent. The Fed said it did not expect unemployment to reach that benchmark until 2015. It was a historic … Continue reading

US / FED / Dallas Fed President, Richard Fisher, says Fed might set a target for unemployment

Dallas Fed President Richard Fisher, a top Federal Reserve official, said on Tuesday that his main concern now was unemployment, not inflation. He said another option the Fed might consider to signal its aims to markets was a target for unemployment, although this would be difficult because monetary policy alone was not responsible for creating jobs. … Continue reading

FED / Lockhart / Aggressive Easing Needed For Jobs

Federal Reserve Bank of Atlanta President Dennis Lockhart said forceful central bank policies will remain needed to spur job growth even if Congress averts sudden tax increases and spending cuts at the end of the year. “I expect that continued aggressive use of balance sheet monetary tools will be appropriate and justified by economic conditions … Continue reading

US / FED / Yellen Says Fed Should Tie Rate Inflation and Employment

Federal Reserve Vice Chairman Janet Yellen backed a proposal to link the Fed’s zero interest-rate policy to progress toward meeting its goals for inflation and employment rather than to a calendar date. “The Committee might eliminate the calendar date entirely and replace it with guidance on the economic conditions that would need to prevail before … Continue reading

Federal Reserve – US unemployment “remains elevated”

The Federal Reserve has reiterated that the US economy is only growing slowly, and that the country’s unemployment rate “remains elevated”. Yet it added that the housing market had “shown some further signs of improvement”. The comments came as the US central bank kept interest rates on hold at between zero and 0.25%, as had … Continue reading

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