Persistent pressures on profit margins are restraining investment spending and,
through declines in equity wealth, consumption. The associated backup in inventories
has induced a rapid response in manufacturing output and, with spending having
firmed a bit since last year, inventory adjustment appears to be well underway...
Although current developments do not appear to have materially diminished the
prospects for long-term growth in productivity, excess productive capacity has
emerged recently. The possibility that this excess could continue for some time and
the potential for weakness in global economic conditions suggest substantial risks
that demand and production could remain soft. In these circumstances, when the
economic situation could be evolving rapidly, the Federal Reserve will need to monitor
developments closely
Der letzte Satz könnte auf eine weiter Zinssenkung auch vor dem offiziellen Treffen im Mai hindeuten.
Gruß Dampf