by Mike ‘Mish’ Shedlock
In today’s FOMC statement, the Fed made some useless noise about closely monitoring inflation.
The Fed also dropped concerns on global economic risks and gave no indication it might waver on last month’s projection it would hike twice this year.
The market expects no more than one hike, and not until November at the earliest.
Fed Tracker Changes
The Wall Street Journal’s Fed Statement Tracker highlights these changes.