BULLET: FOMC Meeting Statement Questions.....................>

FOMC Meeting Statement Questions

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Fed Funds rate range? 2.00% to 2.25%

Any dissents? YES, George and Rosengren wanted no change to rates

Does statement alter sentence "will closely monitor and will act as 

appropriate to sustain the expansion"? YES 

If so, how? They took out "closely."

Does the statement describe a rate cut as being "preemptive" or 

"insurance" or "risk management"? NO

In para. 3, does statement change adjustments, i.e. to accommodation? NO

Any announcements relating to the balance sheet or IOER? If so, what? 

YES, will end in August, two months ahead of schedule

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The FOMC cut rates by 25bp and ended the balance sheet run-off August 1

rather than October. They note while economic expansion, strong labor 

market, and inflation near 2% still most likely, "uncertainties to the 

outlook remain." They previously said that uncertainties had increased. 

There were only minor tweaks to the economic conditions language.