• Real time consumer demand indicators still seem solid, not frothy
• I’m still hearing good solid demand growth in conversations with contacts
• Companies have cut back on their hiring but they have also cut back on firing

On the headline remark, he’s responding to the outlook for rate cuts. Once again, it just reaffirms that they’re not looking into that for the time being. The July meeting is going to be a continuation of the current narrative as such.

This article was written by Justin Low at www.forexlive.com.