Comparing US Fed's views on jobs, bond purchases
A comparison of the Federal Reserve's statements from its two-day meeting that ended Wednesday and its meeting September 16-17:
Now: The Fed "continues to see sufficient underlying strength in the broader economy to support ongoing progress toward maximum employment in a context of price stability. Accordingly, the Committee decided to conclude its asset purchase program this month."
Then: The Fed "decided to make a further measured reduction in the pace of its asset purchases," to $15 billion a month.
October: The Fed has much more positive view of the job market: "Labor market conditions improved somewhat further, with solid job gains and a lower unemployment rate. On balance, a range of labor market indicators suggests that underutilization of labor resources is gradually diminishing."
September: "Labor market conditions improved somewhat further; however, the unemployment rate is little changed and a range of labor market indicators suggests that there remains significant underutilization of labor resources."