27 Apr 2016
FOMC has a firm grasp of the obvious - BBH
Analysts at Brown Brothers Harriman noted that the FOMC delivered a statement largely as expected.
Key Quotes:
"It upgraded its assessment of the global economy by dropping the reference to risks. It downgraded its assessment of the domestic economy by acknowledging that growth has slowed.
Otherwise is general economic assessment remains little changed. The labor market continues to improve, though growth in household spending has slowed.
Housing is stronger though fixed business investment and net exports have been soft (though not as soft as it looked before today's advance reading of March merchandise trade balance that showed a sharp improvement that spurred some to revise up their forecasts for Q1 GDP due out tomorrow)."
Key Quotes:
"It upgraded its assessment of the global economy by dropping the reference to risks. It downgraded its assessment of the domestic economy by acknowledging that growth has slowed.
Otherwise is general economic assessment remains little changed. The labor market continues to improve, though growth in household spending has slowed.
Housing is stronger though fixed business investment and net exports have been soft (though not as soft as it looked before today's advance reading of March merchandise trade balance that showed a sharp improvement that spurred some to revise up their forecasts for Q1 GDP due out tomorrow)."