A Look At The Past 3 Fed Statements On Economy

A look at the evolution of the Federal Reserve's statements on the economy from its three most recent meetings:

The Fed on Aug. 12 said "economic activity is leveling out."

The Fed on Sept. 23 said "economic activity has picked up following its severe downturn."

The Fed on Wednesday said "economic activity has continued to pick up."

The Fed on Aug. 12 said conditions in financial markets "have improved further in recent weeks."

The Fed on Sept. 23 said conditions "have improved further, and activity in the housing sector has increased."

The Fed on Wednesday said conditions "were roughly unchanged, on balance, over the intermeeting period ... (and) activity in the housing sector has increased over recent months."

The Fed on Aug. 12 said businesses "are making progress."

The Fed on Sept. 23 said businesses "are still cutting back on fixed investment and staffing, though at a slower pace; they continue to make progress in bringing inventory stocks into better alignment with sales."