For reference: The November 1 FOMC statement full text ...Middle East

I always like to read the prior FOMC statement one last time before the new one is released. The second paragraph strikes me as one that will need to be largely re-written, likely to highlight progress on inflation. Here is the November 1, 2023 Fed statement:Recent indicators suggest that economic activity expanded at a strong pace in the third quarter. Job gains have moderated since earlier in the year but remain strong, and the unemployment rate has remained low. Inflation remains elevated.The U.S. banking system is sound and resilient. Tighter financial and credit conditions for households and businesses are likely to weigh on economic activity, hiring, and inflation. The extent of t

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