Tag: FRB

Federal Reserve Bank

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FRB FOMC Statement Leaves Interest Rates Unchanged

Today the Federal Open Market Committee announced.

  • Inflation measured on a 12-month basis is close to the Committee’s 2% objective.
  • Slow growth in Q1 is likely Transitory
  • Ex food and energy, consumer prices declined in March.
  • Target range for fed funds rate will remain at 0.75% to 1%.
  • Near-term risks are roughly balanced
  • Monetary policy is accommodative
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FRB Philadelphia survey beats expectations

The Federal Reserve Bank of Philadelphia announces results from the March Manufacturing Business Outlook Survey. The survey suggests manufacturing activity continued to expand. Delivery times and unfilled order indexes were positive. This suggests longer delivery times and an increase in unfilled orders.

  • Diffusion index 32.8 for March down from 43.3 in February
  • 44% of firms reported increases in manufacturing activity
  • 11% of firms reported decreases in manufacturing activity
  • 25% of firms reported increase in employment
  • 8% of firms reported decrease in employment
  • 60% of firms reported a labor shortage
  • 68% of firms reported skills mismatch between available workers and requirements
  • 47% of firms report positions open for more than 90 days

FRB Philadelphia suggests growth for the manufacturing sector on the region. Broad indicators read positive with most up from February.

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Dallas Fed manufacturing numbers positive

Dallas Fed manufacturing numbers are in for February and showing an improvement.

Stats

Jan 17

Feb 17
Production index:

11.9

16.7
Manufacturing new orders Index:

15.7

11.6
Manufacturing growth rate of orders index:

6.7

2.0
Shipments index:

15.8

12.2
Capacity utilization index:

9.1

14.7
General business activity index

22.1

24.5
Company outlook index:

15.7

17.6
Employment index

6.1

9.6
Hours worked index

9.1

7.7
Raw materials price index

30.8

31.5
Finished goods price index

17.7

19.5
Wages & benefits index

20.8

19.5

Some indices are lower than in previous periods but still positive. 19% of firms reported net hiring. 10% noted net layoffs. Survey respondents noted proposals by President Trump as a factor in positive assessment.