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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.

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