Fed comments are in GREEN(Bold). Catherine Austin Fitts' translation follows:

"Information received since the Federal Open Market Committee meeting in January suggests that economic growth has moderated somewhat."

The global economy is slowing. The domestic economy is not doing as well as the Fed had expected.

"Labor market conditions have improved further, with strong job gains and a lower unemployment rate."

U.S. employment has increased. Many people have temp positions, minimum wage services jobs, or they have dropped out of the job market entirely. The goal is a strong corporate economy without growth in wages.

"A range of labor market indicators suggests that underutilization of labor resources continues to diminish."

The Fed seeks higher levels of employment without labor inflation. All productivity increases in recent decades have accrued to investors; not labor. Fed policies will help this to continue.