Federal Reserve Statement on the Economy & a Translation

The Federal Reserve has issued a Press Release stating that the "pace of the recovery ... has slowed in recent months. ... the pace of economic recovery is likely to be modest in the near term." And then they tell you what the Fed's Open Market Committee has voted to do about it, and who voted how. It's all sort of confusing to read. So, for our benefit, Slate online magazine and NPR have cooked up a translation of the statement into plain English, with a nice toggle switch to flip back and forth between the official version and the Plain English. They had a bit of fun with it, which is good, because otherwise, it's kind of anxiety-inducing.