The Fed also released its economic assessment, which was a mixed bag:
- Consumer spending, which is finally perking up after a disappointing summer, was downgraded from “growing strongly” to “rising moderately.”
- The Fed says “market-based measures of inflation expectations have moved up” but “survey-based measures of longer-run expectations are little changed."
- Job gains continue to characterized as “solid,” despite a recent slowdown. The October jobs report will be out on Friday.