May 31
FOMC Minutes May 9th Meeting
Outlook for growth improves for 2008 Uncertainties for inflation remain elevated Fed rates will remain steady at 5.25% Outside risks to growth diminish while upside risk to inflation remain high Positive influences within growth outweigh negative risks, causing GDP growth for 2008 to be revised upward. During the previous meeting, the growth rate was given as “a rate a little below that of the economy’s long run potential;” however, May’s meeting saw growth being revised to “increase at a pace
