FOMC new wording: Risks of rising unemployment and inflation have intensified

BlockBeats News: On May 8th, Federal Reserve officials stated in their May policy statement that GDP growth turned negative in the first quarter, but even so, the Federal Reserve Policy Committee still believes that the underlying economy is strong. They observed that the significant fluctuations in trade statistics were the main reason for the contraction of GDP in the first quarter, as imports surged before the new tariffs. Although fluctuations in net exports have affected the data, recent indicators indicate that economic activity continues to expand at a steady pace, "the statement read. However, in the new language of this month's policy statement, officials also acknowledged that the risks of rising unemployment and inflation have intensified. (Golden Ten)