Wednesday, 27 April, 2016
FED: Unch policy with no explicit hints about June–sort of a dove lite result. Does not add nearly balanced/balanced and removes statement on int’l risks, perhaps suggesting risks have lessened. Describes labor mkt as better but "econ activity appears to have slowed." No change in rates/reinvestment/no limit RRP, says infl remains low but will monitor infl and int’l developments. Keeps ‘gradual’ to refer to possible future hikes & says FF to remain low for some time. Vote again 9-1, KC’s George dissenting for a hike. Reiterates rate path will depend on the outlook.
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