Having perfectly top-ticked US economic data with its March rate-hike, the subsequent collapse in 'data' has been shrugged off as transitory (or seasonal) and by all indications The Fed seems set on two more rate hikes this year no matter what (even as the market diverges dovishly).

*FED SAYS GROWTH SLOWDOWN IN 1Q LIKELY TO BE TRANSITORY

*FED SAYS 12-MONTH INFLATION RUNNING CLOSE TO ITS 2% GOAL

*FED: JOB GAINS SOLID, HOUSEHOLD SPENDING ROSE ONLY MODESTLY

*FED: LABOR MKT CONTINUED TO STRENGTHEN EVEN AS GROWTH SLOWED

*FED REPEATS IT MAINTAINING BALANCE-SHEET REINVESTMENT STRATEGY

*FED SAYS FOMC VOTE WAS UNANIMOUS

There was no mention of the most hotly debated topic at this moment, the Fed's balance sheet. But at least the Fed was unified this time - there were no dissenters.

Here are some of the most notable changes (in bold):

"Information received since the Federal Open Market Committee met in March indicates that the labor market has continued to strengthen even as growth in economic activity slowed"