Powell has begun his statement:
- "Inflation remains elevated. There are uncertainties in bringing it down.
- We remain committed to our 2% target. #FOMC
- Over the past year, there has been some stabilization, but we have seen some setbacks in recent months.
- There is no assurance of further progress on inflation; the path is uncertain.
- We are extremely vigilant against inflation risks."
- "An early interest rate cut could disrupt economic activities. A delayed interest rate cut could also pose problems.
- This year's inflation data has been higher than expected. We are mindful of inflation risks. Inflation expectations have come in above target. We need to wait a bit longer to build confidence.
- Our policy actions are guided by our objectives.
- We will tighten the balance sheet, but this will be done at a slower pace."$BTC