A look at how the US Fed's views on hiring, housing and the overall economy have changed

Industries Associated Press

A comparison of the Federal Reserve's statements from its two-day meeting that ended Wednesday and its meeting June 16-17:

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ECONOMY:

Now: The Fed is a bit more optimistic about the job market: "The labor market continued to improve, with solid job gains and declining unemployment. On balance, a range of labor market indicators suggests that underutilization of labor resources has diminished since early this year."

Then: "The pace of job gains picked up while the unemployment rate remained steady. On balance, a range of labor market indicators suggests that underutilization of labor resources diminished somewhat."

HOUSING AND CONSUMER SPENDING:

July: The Fed's assessment of the housing sector is a bit better: "Growth in household spending has been moderate and the housing sector has shown additional improvement; however, business fixed investment and net exports stayed soft."

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June: "Growth in household spending has been moderate and the housing sector has shown some improvement; however, business fixed investment and net exports stayed soft."