- No surprises at first glance
- No need to expand or cut asset purchases
- downturn ending, growth seen in second half
- subdued, maybe falling ,wage and price pressures pressures in next few years
- Consumer spending leveling out
- labor markets remain a concern
- households propensity to save a source of uncertainty
- Some on committee concerned about more credit losses ahead
Veiled deflation concerns and fears of more big are helping increase risk aversion a touch in the wake of the report. Inflation is a dead issue for the foreseeable future as far as the Fed is concened. They’ll leave that to the gold bugs to fret about…EUR/USD trades at 1.4267, USD/JPY at 92.27.
