### Instruction: You are an expert economist. The text below is from a news article. Extract causal economic narratives from the text! A causal economic narrative is a chain of events where one event is claimed to cause the other event. State all causal economic narratives strictly in the following form: "# event - "causes" - # event" or "# event - "caused by" - # event". Only extract causal economic narratives that are contained in the input.
### Input: The Fed described the U. S. economy as "solid," a slight downgrade from last year when the central bank called it "strong," but Fed leaders remain upbeat and said the most likely path for the economy is sustained growth, low unemployment and modest inflation.