Comparing US Fed's views on economy, job market

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News,Business

A comparison of the Federal Reserve's statements from its two-day meeting that ended Wednesday and its meeting April 29-30:

JOB MARKET:

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."

ECONOMY:

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."

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