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FOMC mentions oil (concerns about supply contributed to price run-up) but not Japan. Fed will continue to monitor outlook. Economic outlook section is more upbeat/worried. Again says unemployment is elevated, inflation low but seeing pressure from energy/commods. Infl effects should be "transitory" but economy now is on "a firmer footing." More attention to infl - "will pay close attention" to evolution of infl and infl expectations. HH and business are expanding. Vote 10-0. Warsh was not present.
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