PARSING THE FED

WSJ:

THE FED’S STATEMENTS reflect how the members of the central bank’s Federal Open Market Committee perceive the economy. Their words have world-wide impact and the slightest changes are scrutinized for clues about where interest rates may be headed.

The Dec. 13 statement announced that the Fed was raising its key short-term interest rate by one-quarter point to 4.25%, its 13th increase in a row, amid steady economic growth and relatively low core inflation. But the Fed signaled that it is less certain on its future rate actions than it has been in more than a year. Below is a look at differences between the December statement and the November one.


click for larger graphic

Wsj_fedparse0512

Graphic courtesy of WSJ

Source:
PARSING THE FED
No ‘Accommodation’
WSJ, Dec. 13, 2005
http://online.wsj.com/documents/info-fedparse0512.html

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