Accordingly, fair values, earnings, and gains or losses resulting from the sale of such securities and currencies are incidental to the open market operations and do not motivate decisions related to policy or open market activities.
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Attention of the market place is also turning to the Federal Open Market Committee monetary policy meeting of the U.S. Federal Reserve, which starts Tuesday and ends Wednesday.
While the bailout saga in Cyprus has the potential to stir global markets again, the U.S. Federal Open Market Committee's policy statement after the European close and Federal Reserve Chairman Ben Bernanke's news conference may hold some attention.
Also, the market began working its way higher again after a policy statement following a U.S. Federal Open Market Committee meeting Wednesday showed that the Fed intends to stick with its accommodative monetary policy, said Sean Lusk, gold and silver analyst with Ironbeam.
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Therefore, the Committee has implicitly separated interest rate policy from open market operations, as I am proposing.
FORBES: Allow Interest Rates To Rise While Keeping Monetary Policy Accommodative
Mr. Fisher isn't a voting member of the Federal Open Market Committee, which sets monetary policy.
Mr. Fisher isn't currently a voting member of the Federal Open Market Committee, which sets monetary policy.
He's also the vice chairman and a permanent member of the Federal Open Market Committee, which sets monetary policy.
In other words, keep overall policy accommodative through open market operations while signaling a willingness to see somewhat higher interest rates.
FORBES: Allow Interest Rates To Rise While Keeping Monetary Policy Accommodative
He said he sees firmer prices next week, supported by physical demand and the underlying support of ultra-loose monetary policy by the Federal Open Market Committee.
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Hopes for further accommodative monetary policy from the Federal Open Market Committee abated earlier this year after non-farm payrolls grew for three straight months by more than 200, 000 jobs.
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As the storm gathered during 2008, the Fed aggressively eased monetary policy by using such open market operations (supplemented by discount rate reductions) to drive short-term interest rates to near-zero levels.
The central bank said "labor market conditions have deteriorated, and the available data indicate that consumer spending, business investment and industrial production have declined" since its policy-setting Federal Open Market Committee last met.
In the area of monetary policy, the Federal Open Market Committee (FOMC) has moved aggressively, cutting its target for the federal funds rate by a total of 225 basis points since September, including 125 basis points during January alone.
Some of the bulls listed the likelihood of further loosening of monetary policy by the European Central Bank down the road and potential for the Federal Open Market Committee to hint at more possible easing in the U.S. when policy-makers meet next week.
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The Federal Open Market Committee, the Federal Reserve's policy-setting panel, has reiterated plans to keep rates at exceptionally low levels at least through late 2014.
The Federal Open Market Committee will end a two-day policy-setting meeting later Wednesday that is likely to show central bank officials are more upbeat about the economy but not enough to tighten loose-borrowing costs that have encouraged risk-taking, economists say.
Futures on the Dow Jones Industrial Average (DJIA) are indicating a potential gain of about 70 points on the open this morning, as Wall Street digests February retail sales data ahead of a monetary policy decision from the Federal Open Market Committee (FOMC).
Next week also brings the Federal Open Market Committee meeting, but no change in monetary policy is expected.
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As a reminder, the FOMC, the Federal Open Market Committee, is the group that makes monetary policy within the Federal Reserve.
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The open-door policy may have ended but it is an open question how effective the new labour-market controls will turn out to be.
The Federal Open Market Committee announced Wednesday afternoon it has left its monetary policy unchanged, which was not unexpected.
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Many market watchers are looking ahead to the two-day Federal Open Market Committee meeting, where the Federal Reserve reviews monetary policy.
However, the data pace picks up speed Tuesday as the Federal Open Market Committee of the Federal Reserve meets to discuss monetary policy.
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Barclays said investors should expect neutral monetary policy with a bias toward tightening liquidity through open market operations.
Gold futures pared their losses slightly Wednesday after the Federal Open Market Committee signaled it is staying the course with loose monetary policy, as had been expected.
FORBES: Comex Gold Futures Pare Loss Slightly After FOMC Statement
The policy announcement was approved unanimously by the Federal Open Market Committee, the group of Fed board members in Washington and Fed regional bank presidents who set the federal funds rate.
Bernanke declined to talk about the different potential monetary policy easing options in his speech, stating that a more rigorous discussion on policy would be held at the next Federal Open Market Committee meeting at the end of September.
FORBES: METALS OUTLOOK: Gold Prices To Stabilize Next Week After Recent Break
The Federal Open Market Committee meets Tuesday to discuss its record-low interest rate policy.
Minutes from the latest meeting of the Federal Open Market Committee, the central-bank panel that sets interest-rate policy, indicate a rate-cut idea has been around for a while.
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