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 ratesA hawkish hold.
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