FOMC Statement, Redline And Wordcloud Comparison
Nothing surprising in the statement.
One notable observation is that for the first time since the Japanese events, the Fed is finally recognized the impact of the Japan-induced contraction. Odd that all the morons who said Japan would be a boost to GDP growth now applaud the Fed's appreciation of reality.
The slower pace of the recovery reflects in part factors that are likely to be temporary, including the damping effect of higher food and energy prices on consumer purchasing power and spending as well as supply chain disruptions associated with the tragic events in Japan.
Complete statement wordcloud for the really lazy ones:
June 22 FOMC word cloud:
And April 27 FOMC word cloud:
Full FOMC April to June redline comparison.
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