Comparing the US Federal Reserve's views on hiring, economy

AP News
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Posted: Jul 29, 2015 4:04 PM

A comparison of the Federal Reserve's statements from its two-day meeting that ended Wednesday and its meeting June 16-17:

ECONOMY:

Now: The Fed is a bit more optimistic about the job market: "The labor market continued to improve, with solid job gains and declining unemployment. On balance, a range of labor market indicators suggests that underutilization of labor resources has diminished since early this year."

Then: "The pace of job gains picked up while the unemployment rate remained steady. On balance, a range of labor market indicators suggests that underutilization of labor resources diminished somewhat."

RAISING RATES:

July: The Fed hinted it is getting closer to the criteria it has set to raise rates, by adding the word "some" to the following sentence: The Fed "anticipates that it will be appropriate to raise the target range for the federal funds rate when it has seen some further improvement in the labor market."

June: The Fed "anticipates that it will be appropriate to raise the target range for the federal funds rate when it has seen further improvement in the labor market."

HOUSING AND CONSUMER SPENDING:

July: The Fed's assessment of the housing sector is a bit better: "Growth in household spending has been moderate and the housing sector has shown additional improvement; however, business fixed investment and net exports stayed soft."

June: "Growth in household spending has been moderate and the housing sector has shown some improvement; however, business fixed investment and net exports stayed soft."