A look at the Fed’s evolving thoughts on labor markets, housing and interest rates
By APWednesday, April 28, 2010
A look at the Fed’s March, April statements
A comparison of the Federal Reserve’s statement on the economy and its policy positions from its last meeting on March 16 and the meeting that concluded Wednesday.
LABOR MARKETS
March: “The labor market is stabilizing.”
April: “The labor market is beginning to improve.”
ECONOMIC CONDITIONS
March: “Household spending is expanding at a moderate rate but remains constrained by high unemployment, modest income growth, lower housing wealth and tighter credit.”
April: “Growth in household spending has picked up recently but remains constrained by high unemployment, modest income growth, lower housing wealth and tight credit.”
HOUSING
March: “Housing starts have been flat at a depressed level.”
April: “Housing starts have edged up but remain at a depressed level.”
INTEREST RATES
March: Leaves federal funds rate unchanged at record low of zero to 0.25 percent, where it has been since December 2008, and repeats pledge to keep rates “exceptionally low” for “an extended period.”
April: Leaves federal funds rate unchanged and once again repeats pledge to keep rates “exceptionally low” for “an extended period.”
