March 2015 US FOMC announcement details 18 March 2015
- Drops patience in guidance
- Housing remains slow
- Export growth weakened
- Rate guidance doesn't mean FOMC has decided lift off timing
- Rate rise also tied to more labour market improvement
- Longer term inflation expectations in surveys are stable
- Risks to economy/jobs nearly balanced
- International developments need to be taken into account
- Economy has moderated somewhat
Patience removed but with a lot of caveats and a fairly bearish stance on the economy in the accompanying statement
What the Fed giveth with one hand they taketh with the other