Differences Between Previous and Current FOMC Statements


Posted To: MBS Commentary

Information received since the Federal Open Market Committee met in MarchMay indicates that the labor market has continued to strengthen and that economic activity has been rising at a moderatesolid rate. Job gains have been strong, on average, in recent months, and the unemployment rate has stayed low.declined. Recent data suggest that growth of household spending moderated from its strong fourth-quarter pace,has picked up, while business fixed investment has continued to grow strongly. On a 12-month basis, both overall inflation and inflation for items other than food and energy have moved close to 2 percent. Market-based measures of inflation compensation remain low; survey-based measuresIndicators of longer-term inflation expectations are little changed, on balance. Consistent with its…(read more)

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