Mediafax (Mediafax)
Markets  |  July 28, 2012 09:14:29

The U.S. central bank will decide on monetary policy


WASHINGTON (MEDIAFAX) - The Federal Reserve on Wednesday, the Fed will decide on the setting of monetary policy. At its last meeting the Fed left rates unchanged in the range zero to 0.25 percent.

Fed officials have repeatedly announced that this low rate they want to leave until 2014.

Analysts speculate that it is impossible to exclude the third round of quantitative easing (QE), it would probably not agree but the Fed earlier than September.

Economic growth in the U.S. in June and early July cooled, hiring new employees in most parts of the country was weak, according to a recent issue of the Beige Book, a report of the U.S. central bank Federal Reserve on the state of its economy.

"Reports from most of the 12 federal districts currency indicate that overall economic activity continued in June and early July in mild to moderate moderate growth," said the central bank in its current Fed Beige book (so-called Beige Book). "The level of employment has improved in most districts only tepid pace," he said on Fed.

Many economists now think that U.S. economic growth slowed in the second quarter, according to some very significantly. Creating new jobs in the United States during the period significantly eased, as well as production in factories. But are weak in recent months and retail sales. Upward pressure on inflation so far, the Fed remains weak, weak as a result of upward pressure on wages.

"The Fed will move to the rates. However, whether we take action to support the economy is unclear. First, the Fed's last meeting showed that most members are against the quantitative easing. Speeches from Fed Chairman Ben Bernanke also did not show anything in particular. Well, I can be here pressure from some members of the Fed's third round of quantitative easing, but it does not obtain sufficient support, "said the agency Mediafax financial markets analyst Next Finance Martin Prokop.

The Federal Reserve, the sound of the full name of the U.S. central bank consists of 12 Federal Reserve Banks, each of which represents one exchange district. The Federal Reserve Bank have their branches, which is 25th in total

The U.S. economy in the first quarter of this year increased by the revised data of 1.9 percent QoQ, while the result was in line with analysts' expectations. Ministry of Commerce of the United States and confirmed its previous estimate refined. In his very first estimate of the Ministry of Commerce announced even grow by 2.2 percent. In the last quarter of last year, U.S. gross domestic product (GDP) grew by three percent equals, in the first three months of this year slowed down significantly.

Consumer spending, which accounts for roughly 70 percent of U.S. economic activity, in the first quarter of this year grew by revised Commerce Department data "only" 2.5 percent, while the ministry originally reported increase of 2.7 percent.

The U.S. central bank Federal Reserve has recently deteriorated sharply growth outlook for the local economy this year. The local gross domestic product (GDP), according to updated forecasts will not increase by more than 2.4 percent, while the Fed allowed for earlier 2.9 percent growth.

Tomáš Králíček, kralicek@mediafax.cz

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