Readers can draw their own conclusions. Below I have marked up the April 30, 2008 FOMC statement to reflect the June 25, 2008 FOMC statement. Words within (parentheses) represent additions in today’s statement. Clicking on the dates will bring up each meeting’s statement.
For immediate release
The Federal Open Market Committee decided today to
Recent information indicates that (overall) economic activity
The substantial easing of monetary policy to date, combined with ongoing measures to foster market liquidity, should help to promote moderate growth over time.(Although downside risks to growth remain, they appear to have diminished somewhat, and the upside risks to inflation and inflation expectations have increased.)
Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Timothy F. Geithner, Vice Chairman; Donald L. Kohn; Randall S. Kroszner; Frederic S. Mishkin; Sandra Pianalto; (Charles I. Plosser) Gary H. Stern; and Kevin M. Warsh. Voting against
target for the federal funds rate at this meeting.