Comparing the Fed's views on the economy
Tuesday, March 15, 2011; 2:41 PM
-- A comparison of the Federal Reserve's statements from its meeting on Jan. 26 and its meeting Tuesday.
January: The Fed repeated its intention to purchase $600 billion in Treasury securities by the end of June, a goal it had first announced at its November meeting.
March: The Fed reaffirmed its intention to purchase $600 billion in Treasury securities by the end of June.
January: "The economic recovery is continuing, though at a rate that has been insufficient to bring about a significant improvement in labor market conditions."
March: "The economic recovery is on a firmer footing and overall conditions in the labor market appear to be improving gradually."
January: "Although commodity prices have risen, longer-term inflation expectations have remained stable, and measures of underlying inflation have been trending downward."
March: "Commodity prices have risen significantly since the summer, and concerns about global supplies of crude oil have contributed to a sharp run-up in oil prices in recent weeks. Nonetheless, longer-term inflation expectations have remained stable, and measures of underlying inflation have been subdued."
January: Left the federal funds rate target unchanged at a record low of zero to 0.25 percent, where it has been since December 2008, and repeated pledge to keep rates "exceptionally low" for "an extended period."