Econintersect: The Federal Open Market Committee (FOMC) – the board of directors of the Federal Reserve – raised the federal funds rate as expected.
…. economic activity has been rising at a moderate rate. Job gains have been strong in recent months, and the unemployment rate has stayed low. ….
Analyst Opinion of the FOMC Meeting Minutes
There were several insignificant word changes – but the only real change was the federal funds rate. Nothing suggests that the FOMC has changed its opinion on any subject.
The Federal Funds rate was raised from 1-1/4 to 1?1/2 percent to 1-1/2 to 1-3/4 percent. Bloomberg / Econoday forecast was for a quarter point increase.