The 4 key phrases from today’s FOMC Statement are:
- “Strong Jobs Gains” instead of “Solid Job Gains”,
- “Considerable time” sentence dropped entirely
- “Solid Pace” instead of “Moderate Pace” For Economy
- Add “Inflation is anticipated to decline further in the near term” as new language
And voila, a hawkish policy statement… sending stocks, crude, and bond yields sliding on the news.