A comparison of the Federal Reserve’s statements from its two-day meeting that ended Wednesday and its meeting April 28-29:
ECONOMY:
Now: The Fed sees growth getting better: “Economic activity has been expanding moderately after having changed little during the first quarter.”
Then: “Economic growth slowed during the winter months, in part reflecting transitory factors.”
HIRING:
June: The job market is also getting better: “The pace of job gains picked up while the unemployment rate remained steady. On balance, a range of labour market indicators suggests that underutilization of labour resources diminished somewhat.”
April: “The pace of job gains moderated, and the unemployment rate remained steady. A range of labour market indicators suggests that underutilization of labour resources was little changed.”
