In the second paragraph of the June 30, 2004, FOMC statement, the committee afrmed that it increased the federal funds rate target partly due to
In the second paragraph of the June 30, 2004, FOMC statement, the committee afrmed that it increased the federal funds rate target partly due to the fact that \"The evidence accumulated over the inter meeting period indicates that output is continuing to expand at a solid pace and labor market conditions have improved.\" Explain why this should be interpreted as a movement along the MP curve and not as a shift in the MP curve
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