Fed maintains statement on the economy
The Fed's statement on the economy stayed the same;
"The Committee expects that, with appropriate policy accommodation, economic activity will expand at a moderate pace, with labor market indicators continuing to move toward levels the Committee judges consistent with its dual mandate"
I may be reading too much into this but if there's was going to be anything massively wonky with the 1st Q3 GDP release tomorrow they could have made reference to it by changing that part of the statement
It would hardly do them any favours to pump a Dec hike, say the economy is moving along as it has been, and then let us watch growth fall through the floor
If anything it suggests that GDP will be roundabout what's expected (1.6% q/q ann vs 3.9% prior), or perhaps even better. Certainly it shouldn't be much worse, should it?
