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A look at how the Fed's views have changed on the economy, bond purchases


A comparison of the Federal Reserve's statements from its two-day meeting that ended Wednesday and its meeting on July 30-31:


July: "The (Fed) expects that, with appropriate policy accommodation, economic growth will pick up from its recent pace and the unemployment rate will gradually decline."

September: Fed policymakers are worried about higher borrowing rates: "The tightening of financial conditions observed in recent months, if sustained, could slow the pace of improvement in the economy and labour market."


Then: The Fed "decided to continue purchasing additional agency mortgage-backed securities at a pace of $40 billion per month and longer-term Treasury securities at a pace of $45 billion per month."

Now: The Fed "decided to await more evidence that progress will be sustained before adjusting the pace of its purchases."