The Associated Press
A comparison of the Federal Reserve’s statements from its two-day meeting that ended Wednesday and its meeting July 29-30:
INTEREST RATE TIMING:
Now: The Fed has made no change to its language: The Fed “continues to anticipate, based on its assessment of these factors, that it likely will be appropriate to maintain the current target range for the federal funds rate for a considerable time after the asset purchase program ends.”
Then: The Fed “continues to anticipate, based on its assessment of these factors, that it likely will be appropriate to maintain the current target range for the federal funds rate for a considerable time after the asset purchase program ends.”
BOND PURCHASES ENDING:
September: The Fed “will end its current program of asset purchases at its next meeting.”
July: The Fed “will likely reduce the pace of asset purchases in further measured steps at future meetings.”
JOB MARKET:
September: The Fed still sees the job market as weak: “A range of labor market indicators suggests that there remains significant underutilization of labor resources.”
July: The language was the same: “A range of labor market indicators suggests that there remains significant underutilization of labor resources.”
ECONOMY:
September: “Economic activity is expanding at a moderate pace.”
July: “Growth in economic activity rebounded in the second quarter.”
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