Summary
- The Fed said uncertainty around the economic outlook has increased as the Middle East situation unfolds.
- The Fed said it upgraded its inflation language from "somewhat elevated" to "elevated," reflecting the impact of energy prices.
- The Fed said it will take into account incoming economic data, changes in the outlook and the balance of risks when considering future rate adjustments.
Forecast Trend Report by Period
The Federal Reserve said developments in the Middle East have increased uncertainty around the economic outlook. It also raised its assessment of inflation.
In its Federal Open Market Committee statement on April 29, the Fed said uncertainty about the economic outlook had grown as the Middle East situation unfolds.
The central bank upgraded its inflation language to "elevated" from "somewhat elevated," reflecting the impact of energy prices.
It also said job gains have remained subdued on average, while the unemployment rate has stayed stable with little change.
On future rate moves, the Fed said it will take into account incoming economic data, changes in the outlook and the balance of risks.
Markets are watching the Fed's inclusion of geopolitical risks as a factor in its policy deliberations. Inflation and energy-price trends are expected to be key variables going forward.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
