FOMC statement of April 27, 2011
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 April 27, 2011. Compared with the previous scheduled statement of March 15, 2011: 7 sentences changed, 0 were added, 0 were removed, and 8 stayed the same. In words: 45 added, 44 removed. The vote on this statement: Unanimous. On the March 15, 2011 statement: Unanimous.
FOMC statement · April 27, 2011
Changed sentences against the previous scheduled statement (March 15, 2011)
8 unchanged · 7 changed · 0 added · 0 removed · words +45 / −44
- March 15, 2011
- Unanimous.
- April 27, 2011
- Unanimous.
Information received since the Federal Open Market Committee met in January suggests March indicates that the economic recovery is on proceeding at a firmer footing, moderate pace and overall conditions in the labor market appear to be are improving gradually.
Commodity prices have risen significantly since the last summer, and concerns about global supplies of crude oil have contributed to a sharp run-up further increase in oil prices since the Committee met in recent weeks March.
Nonetheless Inflation has picked up in recent months, but longer-term inflation expectations have remained stable , and measures of underlying inflation have been are still subdued.
Currently, The unemployment rate remains elevated, and measures of underlying inflation continue to be somewhat low, relative to levels that the Committee judges to be consistent, over the longer run, with its dual mandate.
The recent Increases in the prices of energy and other commodities are currently putting upward pressure on have pushed up inflation in recent months.
In particular, the Committee is maintaining its existing policy of reinvesting principal payments from its securities holdings and intends to purchase will complete purchases of $600 billion of longer-term Treasury securities by the end of the second current quarter of 2011.
The Committee will regularly review the pace size and composition of its securities purchases and the overall size of the asset-purchase program holdings in light of incoming information and will is prepared to adjust the program those holdings as needed to best foster maximum employment and price stability.
Show the 8 unchanged sentences
Household spending and business investment in equipment and software continue to expand.
However, investment in nonresidential structures is still weak, and the housing sector continues to be depressed.
Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability.
The Committee expects these effects to be transitory, but it will pay close attention to the evolution of inflation and inflation expectations.
The Committee continues to anticipate a gradual return to higher levels of resource utilization in a context of price stability.
To promote a stronger pace of economic recovery and to help ensure that inflation, over time, is at levels consistent with its mandate, the Committee decided today to continue expanding its holdings of securities as announced in November.
The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and continues to anticipate that economic conditions, including low rates of resource utilization, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels for the federal funds rate for an extended period.
The Committee will continue to monitor the economic outlook and financial developments and will employ its policy tools as necessary to support the economic recovery and to help ensure that inflation, over time, is at levels consistent with its mandate.
Source: Board of Governors of the Federal Reserve System — the statement on federalreserve.gov · March 15, 2011
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