FED COVER LETTER SUMMARY

Main Points:

▫️Economic activity continues to grow at a strong pace.

▫️Employment growth remains strong and unemployment remains low.

▫️Inflation fell last year but remains high.

▫️There has been no progress towards achieving the 2% inflation target in recent months.

▫️Economic prospects are uncertain.

▫️Fed is ready to adjust monetary policy according to incoming macro data

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