The Fed upgraded econ activity to "solid" from "moderate." They also said unemployment showed signs of stabilization. The phrase "downside risks to employment rose in recent months" was removed. Little else changed apart from housekeeping edits.
There hasn't been much of a reaction in bonds so far, which is as expected. It's notable that Waller dissented, however, as this could be seen of his way of asking to remain in the running for the Fed Chair nomination. Powell is on deck with the press conference at 2:30pm ET, and that's what we'd be more likely to see any volatility due to the Fed.
FED: INFLATION REMAINS SOMEWHAT ELEVATED
FEDERAL RESERVE LEAVES KEY OVERNIGHT INTEREST RATE UNCHANGED IN 3.50–3.75% RANGE, NO LONGER JUDGES DOWNSIDE RISKS TO EMPLOYMENT AS RISING
FED: UNEMPLOYMENT RATE HAS SHOWN SOME SIGNS OF STABILIZATION, JOB GAINS HAVE REMAINED LOW
FED: ATTENTIVE TO RISKS TO BOTH SIDES OF DUAL MANDATE
FED: UNCERTAINTY ABOUT THE ECONOMIC OUTLOOK REMAINS ELEVATED
FED UPGRADES ASSESSMENT OF ECONOMIC ACTIVITY, SAYS IT HAS BEEN EXPANDING AT A “SOLID” PACE
FED: VOTE IN FAVOR OF POLICY WAS 10–2, WITH GOVERNORS MIRAN AND WALLER DISSENTING IN FAVOR OF A 25-BASIS-POINT CUT
FED REAFFIRMS STATEMENT ON LONGER-RUN GOALS, MONETARY POLICY STRATEGY
Newswires follow below.
Here's a link to the before and after.
The Fed upgraded econ activity to "solid" from "moderate." They also said unemployment showed signs of stabilization. The phrase "downside risks to employment rose in recent months" was removed. Little else changed apart from housekeeping edits.
There hasn't been much of a reaction in bonds so far, which is as expected. It's notable that Waller dissented, however, as this could be seen of his way of asking to remain in the running for the Fed Chair nomination. Powell is on deck with the press conference at 2:30pm ET, and that's what we'd be more likely to see any volatility due to the Fed.
FED: INFLATION REMAINS SOMEWHAT ELEVATED
FEDERAL RESERVE LEAVES KEY OVERNIGHT INTEREST RATE UNCHANGED IN 3.50–3.75% RANGE, NO LONGER JUDGES DOWNSIDE RISKS TO EMPLOYMENT AS RISING
FED: UNEMPLOYMENT RATE HAS SHOWN SOME SIGNS OF STABILIZATION, JOB GAINS HAVE REMAINED LOW
FED: ATTENTIVE TO RISKS TO BOTH SIDES OF DUAL MANDATE
FED: UNCERTAINTY ABOUT THE ECONOMIC OUTLOOK REMAINS ELEVATED
FED UPGRADES ASSESSMENT OF ECONOMIC ACTIVITY, SAYS IT HAS BEEN EXPANDING AT A “SOLID” PACE
FED: VOTE IN FAVOR OF POLICY WAS 10–2, WITH GOVERNORS MIRAN AND WALLER DISSENTING IN FAVOR OF A 25-BASIS-POINT CUT
FED REAFFIRMS STATEMENT ON LONGER-RUN GOALS, MONETARY POLICY STRATEGY