FOMC statement of October 25, 2006
This statement of the Federal Open Market Committee, compared sentence by sentence with the scheduled statement before it: what changed in the text, and how the Committee voted.
In short
The Federal Open Market Committee released this statement on October 25, 2006. Compared with the previous scheduled statement of September 20, 2006: 2 sentences changed, 1 was added, 0 were removed, and 5 stayed the same. In words: 22 added, 18 removed. The vote on this statement: 1 member voted against: Jeffrey M. Lacker. On the September 20, 2006 statement: 1 member voted against: Jeffrey M. Lacker.
FOMC statement · October 25, 2006
Changed sentences against the previous scheduled statement (September 20, 2006)
5 unchanged · 2 changed · 1 added · 0 removed · words +22 / −18
- September 20, 2006
- 1 member voted against: Jeffrey M. Lacker.
- October 25, 2006
- 1 member voted against: Jeffrey M. Lacker.
The moderation in Economic growth appears to be continuing has slowed over the course of the year, partly reflecting a cooling of the housing market.
Going forward, the economy seems likely to expand at a moderate pace.
Readings on core inflation have been elevated, and the high levels level of resource utilization and of the prices of energy and other commodities have has the potential to sustain inflation pressures.
Show the 5 unchanged sentences
The Federal Open Market Committee decided today to keep its target for the federal funds rate at 5-1/4 percent.
However, inflation pressures seem likely to moderate over time, reflecting reduced impetus from energy prices, contained inflation expectations, and the cumulative effects of monetary policy actions and other factors restraining aggregate demand.
Nonetheless, the Committee judges that some inflation risks remain.
The extent and timing of any additional firming that may be needed to address these risks will depend on the evolution of the outlook for both inflation and economic growth, as implied by incoming information.
Voting against was Jeffrey M. Lacker, who preferred an increase of 25 basis points in the federal funds rate target at this meeting.
Source: Board of Governors of the Federal Reserve System — the statement on federalreserve.gov · September 20, 2006
How to read this page
The page sets this statement of the Federal Open Market Committee next to the scheduled statement before it, sentence by sentence. The Fed’s sentences are shown as published, in English.
In a changed sentence, the words that were dropped are struck through and the new words are underlined. A sentence found only in the newer statement is marked as added; one found only in the older statement, as removed. Sentences that did not change are collapsed.
The counts say how many sentences fall into each of those groups, and how many words were added and removed. They count edits; they do not weigh them.
The vote lines show how the Committee voted on each statement and who voted against, as the statement itself reports it.
The comparison is made by a fixed rule, not by a model, and it reads nothing into the text.
The Fed’s text is shown in its original English and is not translated. This page only shows what changed in the text; it is not a reading of direction, tone or risk, and it is not part of the MVIE score. MVIE Pro is independent research and is not affiliated with the Federal Reserve.