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rising moderately and business fixed investment is advancing. while the recovery in the housing sector remains slow, fiscal policy is restraining economic growth although the extent of restraint is diminishing. inflation has moved somewhat closer to the committee s longer-run objective. longer term inflation expectations have remained stable. going to skip over redundant language from the last statement. this one says that beginning in august the fed will cut its qe bond purchases to 25 billion a month from 35 billion a month currently. skipping forward again, over redundant language, the fed is maintaining the federal fund rate at 0 to a quarter percent once again. finally getting to the vote, it was 9-1 this time with philadelphia fed president charles plosser dissenting and he is an inflation hawk. according to the statement he voted against it because he objected to the guidance indicating that it will likely be appropriate to maintain the current target rate for th ....
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