Subtle shift in the FOMC statement language indicates why rate cuts have been put on hold ...Middle East

On inflation, this:

“Inflation has made progress toward the Committee’s 2 percent objective but remains somewhat elevated”

“Inflation remains somewhat elevated”

ie, 'made progress' was dropped. This is key. Goldman Sachs picked up on it:

Goldman Sachs says Federal Reserve is waiting for further inflation progress to cut again

“The unemployment rate has stabilized at a low level in recent months, and labor conditions remain solid.”

Trump is not happy:

Trump speaking - he is really upset the Federal Reserve didn't cut interest rates

A hawkish hold.

This article was written by Eamonn Sheridan at www.forexlive.com.

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