What's changed: Comparing U.S. Fed statements on interest rates, jobs

A comparison of the Federal Reserve's statements from its two-day meeting that ended Wednesday and its meeting October 27-28:

RATE HIKE:

See Full Article

Now: Fed policymakers see the economy as able to handle a rate increase: The Fed "decided to raise the target range for the federal funds rate to 1/4 to 1/2 per cent."

Then: The Fed did not raise rates but hinted at a rate increase at the December meeting: "In determining whether it will be appropriate to raise the target range at its next meeting, the Committee will assess progress--both realized and expected--toward its objectives of maximum employment and 2 per cent inflation."

JOBS:

December: The Fed sees the job market as much improved: "A range of recent labour market indicators, including ongoing job gains and declining unemployment, shows further improvement and confirms that the underutilization of labour resources has diminished appreciably since early this year."

October: "The pace of job gains slowed and the unemployment rate held steady. Nonetheless, labour market indicators, on balance, show that underutilization of labour resources has diminished since early this year."

INFLATION:

December: The Fed is more confident inflation will reach its 2 per cent target: "Inflation is expected to rise to 2 per cent over the medium term as the transitory effects of declines in energy and import prices dissipate and the labour market strengthens further."

October: "Inflation is anticipated to remain near its recent low level in the near term but the Committee expects inflation to rise gradually toward 2 per cent over the medium term as the labour market improves further and the transitory effects of declines in energy and import prices dissipate."



Advertisements

Latest Economic News

  • Asian stocks mixed after Wall Street sees gains

    Economic CTV News
    BEIJING - Asian stock markets were mixed Tuesday after Wall Street gained as investors looked ahead to this week's gathering of central bankers in Jackson Hole, Wyoming. KEEPING SCORE: Hong Kong's Hang Seng index gained 1 per cent to 27,421.58 points and Seoul's Kospi added 0.3 per cent to 2,362.40. Source
  • Average Canadian mortgage nears $200K, up 5% in a year

    Economic CBC News
    Canadians owe more than ever before on their mortgages, but fewer and fewer borrowers are falling behind on their payments. That's one of the major takeaways from a report published Tuesday from credit monitoring firm TransUnion, which looked at every active credit file across the country to gauge the financial health of borrowers and consumers. Source
  • Border-beer case could end Canadian federalism, N.B. government argues

    Economic CTV News
    FREDERICTON - A battle over cross-border beer sales threatens to end Canadian federalism as it was originally conceived, the New Brunswick government argues in a submission to the country's top court. In a statement of facts to the Supreme Court of Canada, the province says allowing a New Brunswick man to purchase alcohol in a Quebec border town could ultimately "redesign Canadian federalism. Source
  • Stop the presses: Globe and Mail ends print edition in Maritimes

    Economic CBC News
    The Globe and Mail will stop delivering its print edition to the Maritimes, the newspaper said Monday. Phillip Crawley, the publisher and CEO, said it followed the decision made in 2013 to stop printing in Newfoundland and Labrador. Source
  • Globe and Mail to scrap print edition in Atlantic Canada later this year

    Economic CTV News
    TORONTO -- The Globe and Mail is putting a stop to its daily print edition across Atlantic Canada later this year. Publisher Phillip Crawley says the national newspaper plans to halt production for the East Coast version on Nov. Source
  • German softwood imports up tenfold in wake of U.S. duties on Canadian industry

    Economic CTV News
    OTTAWA -- U.S. imports of softwood from Germany have grown tenfold in the first half of the year as punishing duties pushed imports of Canadian softwood down. RBC Capital Markets analyst Paul Quinn says Canadian lumber producers have plunked down an estimated $500 million so far in countervailing and antidumping duties after the U.S. Source
  • Home Capital class-action lawsuit settlement approved by Ont. court

    Economic CBC News
    An Ontario court has approved the settlement of a $29.5 million class-action lawsuit by investors against alternative mortgage lender Home Capital Group Inc. The Ontario Securities Commission approved a settlement earlier this month with the Toronto-based company and three former executives who agreed they failed to tell investors quickly and completely about fraudulent activity by some mortgage brokers associated with the lender. Source
  • Court approves Home Capital class-action lawsuit settlement

    Economic CTV News
    LONDON, Ont. - An Ontario court has approved the settlement of a $29.5 million class-action lawsuit by investors against alternative mortgage lender Home Capital Group Inc. The Ontario Securities Commission approved a settlement earlier this month with the Toronto-based company and three former executives who agreed they failed to tell investors quickly and completely about fraudulent activity by some mortgage brokers associated with the lender. Source
  • Transat shares surge after positively revising summer earnings outlook

    Economic CBC News
    Shares of Transat A.T. surged on Monday to the highest level since early 2015 after the travel company signalled that it is having a significantly more profitable summer season than it had expected. The Montreal-based company's shares rose as high as $8.85 on Monday before easing back to $8.70 in intraday trading on the Toronto Stock Exchange, up 74 cents from Friday's close. Source
  • Losing PC Financial may give Loblaw the chance to merge PC Points with Shoppers Optimum, analyst says

    Economic CBC News
    Another divorce in Canada's loyalty card sector has consumers stuck in the middle asking questions about the future of an industry still bruised by the actions of some of its largest providers. The Canadian Imperial Bank of Commerce announced last week it is severing ties with Loblaw's President's Choice Financial and rolling PC's two million bank accounts into its Simplii Financial brand starting Nov. Source