Finally, Germany developed export markets by focusing on meeting the needs of parts of the world experiencing the fastest growth and demonstrating strong demand for capital goods that German manufacturers produce: emerging economies in Asia, Europe and Latin America. The United States is well-positioned to match this kind of performance, if it chooses to do so.
Thus, barring further adverse shocks, the FOMC perceived the economy as passing through a "soft spot" at present and viewed the current stance of policy as adequate to foster the economic recovery.