01 May 2019 FOMC Meeting Minutes: Participants continued to view Sustained Expansion of Economic Activity, with Strong Labor Market Conditions, and Low Inflation As the Most Likely Outcome
– this post authored by Steven Hansen
The 01 May 2019 meeting statement presented the actions taken. This post covers the economic discussion during this FOMC meeting between the members (minutes were released yesterday). An interesting quote:
… For this year as a whole, a number of participants mentioned that they had marked up their projections for real GDP growth, reflecting, in part, the strong first-quarter reading. Participants cited continuing strength in labor market conditions, improvements in consumer confidence and in financial conditions, or diminished downside risks both domestically and abroad, as factors likely to support solid growth over the remainder of the year. Some participants observed that, in part because of the waning impetus from fiscal policy and past removal of monetary policy accommodation, they expected real GDP growth to slow over the medium term, moving back toward their estimates of trend output growth …
Source: http://econintersect.com/pages/releases/release.php?post=201905221320
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