1. Leaves rates unchanged
2. Conditions for rate hike not yet achieved.
3. The decision on rate hike will be based on further improvement in labour market and when it is reasonably confident that inflation will move back to its 2% objective over the medium term.
4. Lowered GDP outlook for 2015 to grow 1.8-2% vs 2.3-2.7% projections in March.
5. Revises unemployment rate projections for 2015 end higher to 5.2-5.3% from 5.0-5.2% in March
6. Estimates for end 2015; 2016 and 2017 stood at 0.625%; 1.625% and 2.875% respectively. That compared with 0.625%; 1.875% and 3.125%.
7. PCE Inflation estimates left unchanged at 0.6-0.8% from March projections.
8. The importance of first rate hike should not be overstated
9. Policy stance to be accommodative after 1st interest rate hike.
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