Fed drops ‘patient’, but remains cautious

  • Fed drops “patient” pledge, opens door to rate hike in June or later
  • Fed officials see lower range for longer-run unemployment rate
  • FOMC: Increase in rates remains unlikely at April FOMC meeting
  • FOMC: Economic growth has moderated somewhat
  • FOMC: Change in forward guidance does not mean Fed has decided on timing of rate hike
  • FOMC: Export growth has weakeend
  • FOMC: Inflation has declined further, largely reflecting energy prices decline
  • FOMC: Labor market conditions have improved further, job gains strong
  • FOMC: Fed expects inflation to rise gradually toward 2 % over medium-term
  • FED projects inflation at 0.6-0.8 % in 2015, 1.7-1.9 % in 2016; 1.9-2.0 % in 2017
  • FED sees Fed Funds Rate at median of 1.875 % at end of 2016
  • FED projects GDP 2.3-2.7 % in 2015; 2.3-2.7 % in 2016; 2.0-2.4 % in 2017
  • FED projects unemployment rate 5.0-5.2 % in 2015; 4.9-5.1 % 2016; 4.8-5.1 % 2017

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