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Small, One Sentence Add to FOMC Statement Makes a Difference

Ben Bernanke, chairman of the Federal Reserve, and Janet Yellen, vice chair of the Federal Reserve
Andrew Harrer | Bloomberg | Getty Images
Ben Bernanke, chairman of the Federal Reserve, and Janet Yellen, vice chair of the Federal Reserve

One surprise from the FOMC statement is that the Federal Reserve did not directly acknowledge the slower economic growth that was evident in March and is already evident in April.

But on closer inspection, the Fed did include an extra sentence that does indirectly address this issue: "The Committee is prepared to increase or reduce the pace of its purchases to maintain appropriate policy accommodation...."

The Fed may INCREASE OR DECREASE its purchases. It's an obvious but important point...that the Fed is now doing real-time adjustments to its policies. It can ramp up, or ramp down.


—By CNBC's Bob Pisani

  • A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

Wall Street