Amid a scattering of economic data last week, the FOMC left its policy statement—and interest rates—unchanged versus the prior FOMC meeting in March. While the FOMC provided a modest upgrade of its assessment of the labor market and consumer spending, the rest of the FOMC statement—, which is dissected word by word by market participants for insight into the FOMC’s next move on monetary policy—suggested that the Fed is ……

 

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