| Jan 31st Fed Statement |
March 21st Fed Statement |
May 9th Fed Statement |
Translation / Difference between the statements |
| The Federal Open Market Committee decided today to keep its target for the federal funds rate at 5.25%. |
The Federal Open Market Committee decided today to keep its target for the federal funds rate at 5.25%. |
The Federal Open Market Committee decided today to keep its target for the federal funds rate at 5.25%.
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Recent indicators have suggested somewhat firmer economic growth.
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Recent indicators have been mixed . |
Economic growth slowed in the first part of this year |
- Pressure on growth.
- No interest rate hike.
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| Some tentative signs of stabilization have appeared in the housing market. |
Adjustment in the housing sector is ongoing |
Adjustment in the housing sector is ongoing |
- Stabilization not happened as yet.
- No interest rate drop
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| Overall, the economy seems likely to expand at a moderate pace over coming quarters. |
Nevertheless, the economy seems likely to continue to expand at a moderate pace over coming quarters.
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Nevertheless, the economy seems likely to expand at a moderate pace over coming quarters |
No interest rate drop |
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Readings on core inflation have improved modestly in recent months.
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Readings on core inflation have been somewhat elevated. |
Core inflation remains somewhat elevated. |
- Elevated inflation concern exists.
- Interest rate hike
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| Inflation pressures seem likely to moderate over time. However, the high level of resource utilization has the potential to sustain inflation pressures . |
Although inflation pressures seem likely to moderate over time - the high level of resource utilization has the potential to sustain those pressures. |
Although inflation pressures seem likely to moderate over time, the high level of resource utilization has the potential to sustain those pressures.
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- Elevated inflation concern exists.
- No interest rate drops
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| The Committee judges that some inflation risks remain. |
In these circumstances, the Committee’s predominant policy concern remains the risk that inflation will fail to moderate as expected. |
In these circumstances, the Committee’s predominant policy concern remains the risk that inflation will fail to moderate as expected.
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- Elevated inflation concern exists.
- Interest rate hike
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The extent and timing of any additional firming that may be needed to address these risks will depend on the evolution of the outlook for both inflation and economic growth, as implied by incoming information.
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Future policy adjustments will depend on the evolution of the outlook for both inflation and economic growth, as implied by incoming information. |
Future policy adjustments will depend on the evolution of the outlook for both inflation and economic growth, as implied by incoming information. |
Interest rate hikes possible |
