A comparison of the Federal Reserve's statements from its two-day meeting that ended Wednesday and its meeting April 29-30:
Now: The Fed has taken a more positive view: "Labor market indicators generally showed further improvement. The unemployment rate, though lower, remains elevated."
Then: "Labor market indicators were mixed but on balance showed further improvement. The unemployment rate, however, remains elevated."
June: The Fed's assessment is slightly better: "Growth in economic activity has rebounded in recent months. ... Household spending appears to be rising moderately and business fixed investment resumed its advance."
April: "Growth in economic activity has picked up recently. ... Household spending appears to be rising more quickly. Business fixed investment edged down."