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

AP News
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Posted: Oct 28, 2015 2:31 PM

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

HINT ON TIMING?:

Now: Fed policymakers add a specific reference to their December meeting: "In determining whether it will be appropriate to raise the target range at its next meeting, the Committee will assess progress--both realized and expected--toward its objectives of maximum employment and 2 percent inflation."

Then: "In determining how long to maintain this target range, the Committee will assess progress--both realized and expected--toward its objectives of maximum employment and 2 percent inflation."

HIRING:

October: The Federal Reserve is taking a less optimistic view: "The pace of job gains slowed and the unemployment rate held steady."

September: "The labor market continued to improve, with solid job gains and declining unemployment."

ECONOMY:

October: The Fed sees some parts of the economy doing better than last month: "Household spending and business fixed investment have been increasing at solid rates in recent months, and the housing sector has improved further."

September: "Household spending and business fixed investment have been increasing moderately, and the housing sector has improved further."

GLOBAL ECONOMY:

October: Fed policymakers have dropped language that suggested a global slowdown threatens the U.S. economy: "The Committee continues to see the risks to the outlook for economic activity and the labor market as nearly balanced but is monitoring global economic and financial developments."

September: "Recent global economic and financial developments may restrain economic activity somewhat and are likely to put further downward pressure on inflation in the near term. The Committee continues to see the risks to the outlook for economic activity and the labor market as nearly balanced but is monitoring developments abroad."