Highlights of the April 30 FOMC statement:
- Fed tapers $10 billion to $45 billion/month as expected
- Rates held at 0.00% to 0.25% as expected
- Repeats that Fed sees holding main rate for ‘considerable time’ after QE ends
- Risks to economic and jobs outlook ‘nearly balanced’ (repeat)
- Business fixed investment edged down, while the recovery in the housing sector remained slow
- Full text of the statement
- Previous statement
There are no economic forecasts and the Yellen will not hold a press conference.
At first blush, the GDP reading didn’t rattle the Fed. Knee jerk higher in the US dollar is the first move.
Virtually the only change in statement is:
Household spending and business fixed investment continued to advance.
Business fixed investment edged down, while the recovery in the housing sector remained slow.