Kinds of words, all manner of words, that paid sure of a healthier economy that paint of a healthier economy, words like solid, strong, and strengthening. Still absent in the statement is a reference to balanced risks. As you know, there was much focused on this heading into the meeting, and again, the balanced seen since theen december statement. There are plenty of to be sures. Slowing growth and Household Spending as well as little change in inflation expectation. What is the overall takeaway . Much sums it up. The fed is trying to create enough room to raise rates at its june meeting without surprising the markets, and, of course, the june meeting comes with a revision of Economic Projections as well as a press conference with janet yellen, the fed chair. The fed also this time reiterated its desire to tighten policy at a gradual pace. That important . Because the fed is going to have to raise rates soon if it was to increase arming cost by 50 basis points before the end of the yea