Redacted Version of the January 2015 FOMC Statement

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Redacted Version of the January 2015 FOMC Statement
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Redacted Version of the January 2015 FOMC Statement

December 2014 January 2015 Comments
Information received since the Federal Open Market Committee met in October suggests that economic activity is expanding at a moderate pace. Information received since the Federal Open Market Committee met in December suggests that economic activity has been expanding at a solid pace. Shades GDP up. This is another overestimate by the FOMC.
Labor market conditions improved further, with solid job gains and a lower unemployment rate. On balance, a range of labor market indicators suggests that underutilization of labor resources continues to diminish. Labor market conditions have improved further, with strong job gains and a lower unemployment rate. On balance, a range of labor market indicators suggests that underutilization of labor resources continues to diminish. Shades their view of labor use up a little. More people working some amount of time, but many discouraged workers, part-time workers, lower paid positions, etc.
Household spending is rising moderately and business fixed investment is advancing, while the recovery in the housing sector remains slow. Household spending is rising moderately; recent declines in energy prices have boosted household purchasing power. Business fixed investment is advancing, while the recovery in the housing sector remains slow. Interesting how falls in energy prices are treated as permanent by the FOMC, while rises are regarded as transient.
Inflation has continued to run below the Committee’s longer-run objective, partly reflecting declines in energy prices. Market-based measures of infla