Differences Between Previous and Current FOMC Statements

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Posted To: MBS Commentary

Information received since the Federal Open Market Committee met in JuneJuly indicates that the labor market remains strong and that economic activity has been rising at a moderate rate. Job gains have been solid, on average, in recent months, and the unemployment rate has remained low. Although growth of household spending has pickedbeen uprising fromat earliera instrong the yearpace, growth of business fixed investment hasand beenexports softhave weakened. On a 12-month basis, overall inflation and inflation for items other than food and energy are running below 2 percent. Market-based measures of inflation compensation remain low; survey-based measures of longer-term inflation expectations are little changed. Consistent with its statutory mandate, the Committee seeks to foster maximum employment…(read more)

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