{"id":927,"date":"2016-11-17T14:17:45","date_gmt":"2016-11-17T20:17:45","guid":{"rendered":"https:\/\/trends.ufm.edu\/en\/?post_type=newsletter&#038;p=927"},"modified":"2016-12-08T14:56:51","modified_gmt":"2016-12-08T20:56:51","slug":"the-last-temptation-of-the-fed","status":"publish","type":"newsletter","link":"https:\/\/trends.ufm.edu\/en\/report\/the-last-temptation-of-the-fed\/","title":{"rendered":"The Last Temptation of the Fed"},"content":{"rendered":"<p>In the second quarter of 2016, the Unites States grew 1.1% (year-on-quarter growth). Although growth rates have remained positive since Q2 2015, the rates are declining.<\/p>\n<p>The unemployment rate in Q2 2016 has not changed and remains at 4.9%.<\/p>\n<p>The monetary policy of Q2 2016 remains the same; the cost of federal funds is still between 0.25% and 0.50%.<\/p>\n<p>Excess reserve deposits at the Federal Reserve in Q2 continue to show a downward trend.<\/p>\n<p>The M1 and MZM multipliers from February 2016 to July 2016 show positive growth rates.<\/p>\n<p>The reduction of excess reserves and the MZM growth indicate the start of a dynamization of credit in the United States.<\/p>\n<p>In Q2 2016, inflation is at 0.8%\u2014still far away from the target.<\/p>\n<p>Credit is has positive growth rates, but is not yet at the levels of an expansive economy.<\/p>\n<p>The growth of car sales is close to a yearly 18% in Q2 2016. This variable is highly pro-cyclical in the United States and important to follow\u2014it is undergoing a strong recovery and growth.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the second quarter of 2016, the Unites States grew 1.1% (year-on-quarter growth). Although growth rates have remained positive since Q2 2015, the rates are declining. The unemployment rate in Q2 2016 has not changed and remains at 4.9%.<\/p>\n","protected":false},"author":105,"featured_media":1014,"menu_order":0,"template":"","meta":{"anio":"2016","mes":"April-June","id_estadisticas":"stat-united-states-april-june-2016","newsletter_link":"https:\/\/trends.ufm.edu\/en\/wp-content\/uploads\/2016\/11\/United-States-2016Q2-UFM-Market-Trends.pdf","portada_informe":"https:\/\/trends.ufm.edu\/en\/wp-content\/uploads\/2016\/12\/us2016q2.jpg","subtitulo":"United States Q2 2016 Report","footnotes":""},"tags":[107,7,26],"class_list":["post-927","newsletter","type-newsletter","status-publish","has-post-thumbnail","hentry","tag-107","tag-april-june","tag-united-states"],"_links":{"self":[{"href":"https:\/\/trends.ufm.edu\/en\/wp-json\/wp\/v2\/newsletter\/927","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/trends.ufm.edu\/en\/wp-json\/wp\/v2\/newsletter"}],"about":[{"href":"https:\/\/trends.ufm.edu\/en\/wp-json\/wp\/v2\/types\/newsletter"}],"author":[{"embeddable":true,"href":"https:\/\/trends.ufm.edu\/en\/wp-json\/wp\/v2\/users\/105"}],"version-history":[{"count":1,"href":"https:\/\/trends.ufm.edu\/en\/wp-json\/wp\/v2\/newsletter\/927\/revisions"}],"predecessor-version":[{"id":1013,"href":"https:\/\/trends.ufm.edu\/en\/wp-json\/wp\/v2\/newsletter\/927\/revisions\/1013"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/trends.ufm.edu\/en\/wp-json\/wp\/v2\/media\/1014"}],"wp:attachment":[{"href":"https:\/\/trends.ufm.edu\/en\/wp-json\/wp\/v2\/media?parent=927"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/trends.ufm.edu\/en\/wp-json\/wp\/v2\/tags?post=927"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}