The Fed recognized that growth is slow, and that inflation remains subdued.
I include a chart of the real median household income to demonstrate why the recovery is so wobbly. Demand and investment are weak because people have less money to spend. Wow, what a surprise.
The pampered princes of the establishment keep point to the ‘great jobs growth’ while ignoring the low pay, part time nature of those jobs, and the slumping Labor Participation Rate.
And I believe that this is purposeful, because they are caught in a credibility trap. They cannot address the root problems because it risks their place in the ‘system’ that they have crafted that rewards the wealthy and powerful few excessively at the expense of most others.