Fed officials increasingly think the economy has exited its postcrisis period, according to economic projections the central bank published on Wednesday. The recovery, in other words, may not be complete, but it is over. Most officials predicted stable growth around 2 percent over the next few years, and they foresaw little if any additional decline in the unemployment rate, which fell to 4.7 percent in May, the lowest level unemployment had reached since 2007, before the recession.
WHAT THE FED SAID
“The committee currently expects that, with gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace and labor market indicators will strengthen. ”
To read the entire article, visit the New York Times, at Fed Holds Interest Rates Steady and Plans Slower Increase, By Binyamin Applebaum, June 15, 2016