- The pace of job gains moderated, and the unemployment rate remained steady in the weeks since the FOMC last met in March, says this month's policy statement. While household spending declined, real incomes rose strongly - partly due to energy price declines - and consumer sentiment remains high.
- "The Committee anticipates that it will be appropriate to raise the target range for the federal funds rate when it has seen further improvement in the labor market and is reasonably confident that inflation will move back to its 2 percent objective over the medium term."