Differences Between Current and Previous FOMC Statements

Posted To: MBS Commentary

(additions underlined, deletions struck-through) For immediate release Information received since the Federal Open Market Committee met in JuneJuly indicates that the labor market strengthenedhas continued to strengthen and thatgrowth of economic activity has been expanding at a moderate rate. Job gains were strongpicked up from the modest pace seen in June following weak growth in May. On balance, payrolls and other labor market indicators point to some increase in labor utilizationthe first half of this year. Although the unemployment rate is little changed in recent months.months, job gains have been solid, on average. Household spending has been growing strongly but business fixed investment has beenremained soft. Inflation has continued to run below the Committee's 2 percent longer...(read more)

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