FOMC

Karim writes: Statement dropped reference to bank credit contracting Several references to inflation being too low; 2nd paragraph completely overhauled to specify that Fed is missing both parts of the dual mandate and also characterizes progress towards objectives as ‘disappointingly slow’ Buying 600bn thru end of Q2-2011; added to reinvestment of MBS proceeds, total purchases estimated at 110bn/mth. Increasing [...]