{"id":14294,"date":"2022-07-08T12:56:28","date_gmt":"2022-07-08T10:56:28","guid":{"rendered":"https:\/\/mumblefx.com\/?p=14294"},"modified":"2022-07-08T12:56:28","modified_gmt":"2022-07-08T10:56:28","slug":"fomc-75bp3","status":"publish","type":"post","link":"https:\/\/mumblefx.co.uk\/wpclients\/wpclient003\/?p=14294","title":{"rendered":"FOMC 75bp^3"},"content":{"rendered":"\n
\"\"
Committee’s inflation expectations still anchored around 2% (2024)<\/figcaption><\/figure>\n\n\n\nfederalreserve.gov – FOMC Minutes 15.Juni 2022<\/a>
\nglobal-rates.com – FED Interest Rates<\/a>
\nstlouisfed.org – How will FED reduce balance sheet<\/a>
\nnewyorkfed.org – SOMA Holdings<\/a>
\nen.wikipedia.org – SOMA @Wikipedia<\/a>
\nfederalreserve.gov – FED balance sheet overview (2020)<\/a>
\n\n\n\n

\nHallo Traders<\/strong>,
\n\"German\"\nAuf Seite drei des FOMC Protokolls „Minutes of the Meeting of June 14\u201315, 2022 Page 3“ gleich etwas verwirrend, ist doch das gel\u00e4ufige GDP umschrieben, dagegen die eher unbekannte Abk\u00fcrzung SOMA (f\u00fcr: System Open Market Account) nicht ausgeschrieben. Auf den Punkt gebracht, wird unterteilt in „overnight reverse repurchase“ und „overnight private reverse repurchase“. Systembanken werden immer liquide gehalten, Privatbanken dagegen nur im Regelfall bei strategischem Bedacht.
\n„[…]reduction in SOMA securities[…]“
\n„[…]suggested that U.S. real gross domestic product<\/strong> (GDP) was rebounding to[…]“\n

\nWas mir, zugestandener Weise einem Lakei auf dem Gebiet der Zentralbank-Semantik, nicht verst\u00e4ndlich wird, sind folgende (wiederspr\u00fcchliche) Passagen.\n

\nPage 3) „In accordance with the directive to the Open Market Desk, the reduction in SOMA securities holdings began in June, under the initial monthly caps on redemptions of $30 billion for Treasury securities and $17.5 billion for agency debt and agency mortgage-backed securities (MBS). Under current staff projections, the SOMA portfolio was anticipated to decline roughly $400 billion by the end of 2022.“
\nvs<\/strong>
\nPage 11) „Reinvest into agency mortgage-backed securities (MBS) the amount of principal payments from the Federal Reserve\u2019s holdings of agency debt and agency MBS received in the calendar months of June and July that exceeds a cap of $17.5 billion per month.“\n

\nSobald ich zu einer logischen Interpretation gelangt bin, liest Du diese hier auf diesem Blog.\n

\n\nWeitere Details und Ausblick auf den Exchange wie immer f\u00fcr Premium<\/a>-Mitglieder.\n<\/span>\n

\nB\u00fcnyamin\n<\/p>\n

\nGoody Traders<\/strong>,
\n\"English\"\nReading page three of the FOMC minutes „Minutes of the Meeting of June 14-15, 2022 Page 3“ confuses a bit, as the common GDP is paraphrased, while the rather unknown abbreviation SOMA (for: System Open Market Account) is not written out. In a nutshell, it is divided into „overnight reverse repurchase“ and „overnight private reverse repurchase“. System banks will therefore always be kept liquid, private banks are only kept liquid as a rule and with strategic consideration.
\n„[…]reduction in SOMA securities[…]“
\n„[…]suggested that U.S. real gross domestic product<\/strong> (GDP) was rebounding to[…]“\n

\nWhat I, admittedly a lackey in the field of central bank semantics, do not understand are the following (contradictory) passages.\n

\nPage 3) „In accordance with the directive to the Open Market Desk, the reduction in SOMA securities holdings began in June, under the initial monthly caps on redemptions of $30 billion for Treasury securities and $17.5 billion for agency debt and agency mortgage-backed securities (MBS). Under current staff projections, the SOMA portfolio was anticipated to decline roughly $400 billion by the end of 2022.“
\nvs<\/strong>
\nPage 11) „Reinvest into mortgage-backed securities (MBS) the amount of principal payments from the Federal Reserve’s holdings of agency debt and agency MBS received in the calendar months of June and July that exceeds a cap of $17.5 billion per month.“\n

\nAs soon as I have come to a logical interpretation, you will read it here.\n

\n\nMore details and my outlook on the Foreign Exchange as always for Premium<\/a> Members.\n<\/span>\n

\nSincerely Yours, Ben\n<\/p>\n","protected":false},"excerpt":{"rendered":"

federalreserve.gov – FOMC Minutes 15.Juni 2022 global-rates.com – FED Interest Rates stlouisfed.org – How will FED reduce balance sheet newyorkfed.org – SOMA Holdings en.wikipedia.org – SOMA @Wikipedia federalreserve.gov – FED balance sheet overview (2020) Hallo Traders, Auf Seite drei des FOMC Protokolls „Minutes of the Meeting of June 14\u201315, 2022 Page 3“ gleich etwas verwirrend, … FOMC 75bp^3<\/span> weiterlesen<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[208,19],"tags":[24,33],"class_list":["post-14294","post","type-post","status-publish","format-standard","hentry","category-financial-world-wide","category-leitzinsen","tag-fed","tag-fomc"],"_links":{"self":[{"href":"https:\/\/mumblefx.co.uk\/wpclients\/wpclient003\/index.php?rest_route=\/wp\/v2\/posts\/14294","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mumblefx.co.uk\/wpclients\/wpclient003\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mumblefx.co.uk\/wpclients\/wpclient003\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mumblefx.co.uk\/wpclients\/wpclient003\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mumblefx.co.uk\/wpclients\/wpclient003\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14294"}],"version-history":[{"count":0,"href":"https:\/\/mumblefx.co.uk\/wpclients\/wpclient003\/index.php?rest_route=\/wp\/v2\/posts\/14294\/revisions"}],"wp:attachment":[{"href":"https:\/\/mumblefx.co.uk\/wpclients\/wpclient003\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14294"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mumblefx.co.uk\/wpclients\/wpclient003\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14294"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mumblefx.co.uk\/wpclients\/wpclient003\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}