Fed holds as near-term risks ‘diminish’
FOMC says near-term risks to US outlook have diminished, while economic activity is expanding at a “moderate pace”
Near-term risks to the economic outlook of the US have "diminished", the Federal Open Market Committee (FOMC) said on July 27, as it kept policy unchanged.
The committee's statement was regarded by most observers as more upbeat than its analysis in June. Economic activity has been expanding at a "moderate pace", while household spending was "growing strongly", it observed.
On balance, payrolls and other labour market indicators point to some increase in labor utilisation in recent months
FOMC
Th
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