Yesterday, the Fed issued the statement from the FOMC meeting on June 9-10. The statement is little changed from the April edition. Nevertheless, there are two important differences. First, the members of the Committee have acknowledged the improvement in the economic situation since April, as they wrote that "financial conditions have improved, in part reflecting policy measures to support the economy and the flow of credit to U.S. households and businesses." Moreover, according to new wording, the virus and the measures taken to protect public health "have induced" (instead of "are inducing" in April) sharp ... (full story)