The Indicator from Planet Money · Thursday, July 2, 2026
Economist Claudia Sahm and other Fed watchers noted changes in the Federal Reserve's recent statement, including a reduction in word count and the removal of an explicit reference to maximum employment. Sahm suggests these changes could signal a shift in priorities and calls for clearer communication from the Fed.
“Fassados, this statement was shorter, as a terse 132 words.”
“And while the statement did mention the Fed's dual mandate, it removed an explicit reference to maximum employment.”
“Claudia says she doesn't like these changes.”
“I think it's important for Fed communication is a tool to be accountable for the Fed to explain itself to regular people.”