FOMC statement of December 12, 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 December 12, 2006. Compared with the previous scheduled statement of October 25, 2006: 2 sentences changed, 0 were added, 0 were removed, and 6 stayed the same. In words: 12 added, 2 removed. The vote on this statement: 1 member voted against: Jeffrey M. Lacker. On the October 25, 2006 statement: 1 member voted against: Jeffrey M. Lacker.
FOMC statement · December 12, 2006
Changed sentences against the previous scheduled statement (October 25, 2006)
6 unchanged · 2 changed · 0 added · 0 removed · words +12 / −2
- October 25, 2006
- 1 member voted against: Jeffrey M. Lacker.
- December 12, 2006
- 1 member voted against: Jeffrey M. Lacker.
Economic growth has slowed over the course of the year, partly reflecting a substantial cooling of the housing market.
Going forward Although recent indicators have been mixed, the economy seems likely to expand at a moderate pace on balance over coming quarters.
Show the 6 unchanged sentences
The Federal Open Market Committee decided today to keep its target for the federal funds rate at 5-1/4 percent.
Readings on core inflation have been elevated, and the high level of resource utilization has the potential to sustain inflation pressures.
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 · October 25, 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.
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