Novi, peti rast referentne kamatne stope FED-a (ciljni raspon stope federalnih sredstava na 3 do 3¼ procenta) je očekivani nakon prethodnih najava da će se sprovoditi QT (Quantitative Tightening) kako bi se ublažili pritisci inflacije (posvećen vraćanju inflacije na cilj od 2 procenta). FED želi na ovaj način da normalizuje bilanse, tako što smanjuje svoje monetarne rezerve prodajom trezorskih obveznica, ili skraćivanjem perioda dospeća, a sve s ciljem da ih uklone iz svojih gotovinskih pozicija. To je neposredna mera koja smanjuje likvidnost na finansijskim tržištima. Opravdanje za nalaze u skromnom rastu potrošnje i proizvodnje, porastu broja radnih mesta poslednjih meseci (u septembru veći od prognoziranog, s tim da su to radna mesta sa nižim platama!!!), nižoj stopi nezaposlenosti. Rastuća inflacija im ugrožava ravnotežu ponude i potražnje u vezi sa pandemijom, višim cenama hrane i energije i širim pritiscima na cene. Pored toga, Komitet će nastaviti da smanjuje svoje posedovanje hartija od vrednosti trezora i agencijskog duga i hartija od vrednosti obezbeđenih hipotekom. Procene su uzele u obzir širok spektar informacija, uključujući podatke o javnom zdravlju, uslovima na tržištu rada, inflatornim pritiscima i inflatornim očekivanjima, kao i finansijskim i međunarodnim dešavanjima.
The Fed – Meeting calendars and information
A new, fifth increase in the Fed’s benchmark interest rate (the target range of the federal funds rate at 3 to 3¼ percent) is expected after previous announcements that QT (Quantitative Tightening) will be implemented to ease inflationary pressures (committed to returning inflation to the 2 percent target). The FED wants to normalize balances in this way, by reducing its monetary reserves by selling treasury bonds, or by shortening the maturity period, all with the aim of removing them from their cash positions. It is an immediate measure that reduces liquidity in financial markets. The justification for the findings lies in the modest growth of consumption and production, the increase in the number of jobs in recent months (in September higher than forecast, with the fact that these are jobs with lower wages!!!), a lower unemployment rate. Rising inflation threatens their supply-demand balance amid the pandemic, higher food and energy prices, and broader price pressures. In addition, the Committee will continue to reduce its holdings of Treasury and agency debt and mortgage-backed securities. The estimates took into account a wide range of information, including data on public health, labor market conditions, inflationary pressures and inflationary expectations, as well as financial and international developments.