FOMC statement of March 21, 2007
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 March 21, 2007. Compared with the previous scheduled statement of January 31, 2007: 3 sentences changed, 3 were added, 3 were removed, and 1 stayed the same. In words: 58 added, 66 removed. The vote on this statement: Unanimous. On the January 31, 2007 statement: Unanimous.
FOMC statement · March 21, 2007
Changed sentences against the previous scheduled statement (January 31, 2007)
1 unchanged · 3 changed · 3 added · 3 removed · words +58 / −66
- January 31, 2007
- Unanimous.
- March 21, 2007
- Unanimous.
Recent indicators have suggested somewhat firmer economic growth, and some tentative signs of stabilization have appeared in the housing market.
Recent indicators have been mixed and the adjustment in the housing sector is ongoing.
Overall Nevertheless, the economy seems likely to continue to expand at a moderate pace over coming quarters.
Readings on core inflation have improved modestly in recent months, and inflation pressures seem likely to moderate over time.
Recent readings on core inflation have been somewhat elevated.
However Although inflation pressures seem likely to moderate over time, the high level of resource utilization has the potential to sustain inflation those pressures.
The Committee judges that some inflation risks remain.
In these circumstances, the Committee's predominant policy concern remains the risk that inflation will fail to moderate as expected.
The extent and timing of any additional firming that may be needed to address these risks Future policy adjustments will depend on the evolution of the outlook for both inflation and economic growth, as implied by incoming information.
Show the unchanged sentence
The Federal Open Market Committee decided today to keep its target for the federal funds rate at 5-1/4 percent.
Source: Board of Governors of the Federal Reserve System — the statement on federalreserve.gov · January 31, 2007
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.