FOMC Minutes March 18th Meeting (Full)
More News related to Economic Data
- After-Hours Movers 9/4: Hoku Scientific (HOKU) Up on Contract, Cascade (CAE) Lower on Results
- Trading Radar for 9/5: National Semiconductor (NSM) Reports; Unemployment Rate, Nonfarm Payrolls for August Due
- Unusual 11 Mid-Day Movers 9/4: CAPA, TGIC, HAYZ, PSS Higher; CIEN, VOL, BTH, TEX Lower
- Notable Analyst Rating Changes 9/4: SAI, STLD Upgraded; MRVL, LM, FRX Downgraded
- Notable Mergers and Acquisitions of the Day 9/4: OTEX/CAPA, THRM, RHT
currencies for the System's account in the period since the previous meeting. The Manager also reported on developments in domestic financial markets and on System open market operations in government securities and federal agency obligations during the period since the previous meeting. By unanimous vote, the Committee ratified these transactions.
The information reviewed at the March meeting indicated that economic activity had continued to decelerate in recent months. The contraction in homebuilding intensified, consumer spending appeared to be weakening, and survey measures of both consumer and business sentiment were at depressed levels. Industrial production fell in February, and private payroll employment posted a third consecutive monthly decline. After having increased in recent months through January, both headline and core inflation as measured by the consumer price index (CPI) dropped noticeably in February. In early March, however, prices of oil and other commodities rose sharply.
Labor demand softened markedly in recent months. The decline in private payroll employment that began last December steepened through February. Although employment by firms in the nonbusiness services sector and in state and local governments continued to rise, declines elsewhere were widespread. Losses were greatest in the manufacturing, construction, and retail trade sectors. Aggregate hours of private production or nonsupervisory workers fell slightly in the first two months of the year. The unemployment ...
For the Full Text of the FOMC Minutes March 18th Meeting Click Here
Stocks Mentioned
Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
