Powell Intro Statement Begins:

Much of the opening unchanged.

• Indicators of economic activity and employment have continued to strengthen, real GDP this year appears to be on track to post its fastest rate of increase in decades. Much of the growth reflects the bounceback in activity from depressed levels.
• The sectors most adversely affected by the pandemic remain weak but have shown improvement. Household spending rising at a rapid pace, boosted by the ongoing reopening, fiscal support, and accommodative financial conditions.
• The housing sector is strong, and business investment is increasing at a solid pace. Some industries' near term supply constraints are restraining activity.
• FOMC forecasts for economic growth have been revised up since our March summary of economic projections. Even so the recovery is incomplete and risks to the economic outlook remain.