Dove led the Fed policy direction nibbuns

The dovish Fed policy direction leading U.S. stock market center: exclusive national industry sector stocks, premarket after hours, ETF, real-time quotes with the warrant recovery of the U.S. job market gradually close to the Fed’s full employment level, the Fed rate hike on when to start under debate is also increasingly fierce. At the end of last week’s September monetary policy meeting, the three Federal Reserve officials to maintain interest rates unchanged policy decisions voted against, highlighting the differences in the timing of the Fed’s interest rate hike. But the fact that the six consecutive meeting to maintain interest rates unchanged, but also further illustrate the dovish camp has led the Fed’s interest rate policy direction. Maintaining price stability and promoting full employment is the two major policy objectives of the Federal Reserve, the Federal Reserve policy differences are also focused on the future of inflation and the prospects for the job market. The Fed governor Renard and Tarullo as the representative of the "Dove" officials believe that although the unemployment rate of 4.9% is close to the Fed expects the full employment level, but other employment indicators showing the employment market there is still room for further improvement. They stressed the need to see signs of continued inflation in the United States will support further interest rate increases. In Kansas City Federal Reserve Bank President George and the Federal Reserve Bank of San Francisco governor Williams as the representative of the "hawks" officials believe that the U.S. labor market has basically reached the level of full employment, a further decline in the unemployment rate will push up wage growth and overall inflation. If you do not raise interest rates as soon as possible, there will be a risk of soaring inflation. They worry that the Fed may eventually be forced to raise interest rates sharply to curb inflation, which will lead to a sharp tightening of the financial environment than expected, and may lead to the U.S. economy into recession again. Federal Reserve Chairman Yellen expressed some identity between the both sides, the two factions of the policy to seek consensus. In a press conference last week, the lag that the transmission effects of monetary policy on one hand Yellen, stressed that the Fed interest rate policy should be forward-looking, too late warning rate hike will bring inflation risks; on the other hand, she pointed out that changed over the past few decades the United States inflation formation mechanism, now transformed into the job market improved before inflation the degree of pressure is not so large, US inflation expectations remain stable for a long time, but in the past few years, the U.S. inflation rate continued below the 2% target also needs attention. Yellen believes that this approach is in line with the current interest rate hike in the Fed’s ultra-low interest rate policy environment. From the Fed’s federal funds rate forecast, Fed officials have gradually realized that the economic growth and moderate inflation continues to slump, the fed only to raise interest rates to slow rhythm. Last December, the Fed had expected to raise interest rates four times in 2016; in March this year, the Fed will raise interest rates in 2016 is expected to be reduced to two times in September, the Fed is expected to raise interest rates only once this year. At the same time, the Fed continued to cut interest rates in 2017 and in the expected rate of increase in 2018, indicating that the Fed is becoming increasingly cautious in the rhythm of interest rates. From the release of policy signals fed last week, the Fed is likely to raise interest rates again in December this year, and in December last year to start the first hearing相关的主题文章: