Federal Reserve

Here's what changed in the new Fed statement

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The Fed's decision to not cut rates more is a policy mistake, says Morgan Stanley's Jim Caron

This is a comparison of Wednesday's Federal Open Market Committee statement with the one issued on June 19 after the Fed's previous policymaking meeting.

Text removed from the June statement is in red with a horizontal line through the middle.

Text appearing for the first time in the new statement is in red and underlined.

Black text appears in both statements.