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FOMC Unsure About Job Creation

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  • Description

    FBN’s Peter Barnes with details from April’s FOMC meeting on economic growth and policy.

  • Duration 2:09
  • Date

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Ozone -- the press can't breaking news from the Fed Peter Barnes stand in Washington with the details hey Peter.

-- hi Tracy they FOMC the Fed is definitely keeping the door open to possible additional stimulus may be more quantitative easing.

Because of all of the uncertainty out there in the economy particularly.

Over whether the pace of the economic recovery is sustainable and because of all the risks to the economy that are out there like the debt crisis in Europe.

And the fiscal uncertainty.

Tax -- get -- what you just said.

Here in Washington the minutes are for the FOMC meeting at the end of April which resulted in no policy change as you were call.

At the meeting the F one C slightly upgraded its outlook for growth this year with unemployment ticking down a bit faster the minutes say quote several members indicated that additional monetary policy accommodation.

Could be necessary -- the economic recovery lost momentum or the downside risks to the forecast became great enough.

The FOMC members discuss the unseasonably warm weather earlier this year and whether or not.

It was a head fake in job creation for example.

The FOMC members are not shore -- about the pace of job creation the minutes show the members reported that while business contacts suggested improving sentiment quote.

Many firms remain somewhat cautious about their hiring and investment decisions.

And the many firms were not investing.

And expanding capacity which would create jobs on inflation they talk a lot about higher and -- gas prices but most participants felt the impact would be temporary and in fact we've seen that.

Play out.

The FOMC members also discussed the idea of adopting simple policy rules to help create more certainty -- businesses consumers and investors IE -- certain economic forecasts and come true or do this policy responses would be this so.

That I just been kicked around before the Fed also announced today.

That it would set all of its meetings.

At two days going forward previously only some meetings were two day meetings they FOMC says that it needs ample time for its discussions.

And this would be through 2013.

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