**๐จ Key Points from Federal Reserve Chairman Jerome Powell's Statement:**
**1. ๐ Significant Decline in Inflation**
- Inflation has decreased notably but remains above desired levels.
**2. ๐ฏ Long-Term Inflation Target**
- The Federal Reserve is committed to a long-term inflation target of 2%.
**3. ๐ Increased Labor Market Participation**
- Strong migration has boosted labor market participation.
**4. ๐ผ Low Unemployment Rate**
- The unemployment rate continues to remain low.
**5. ๐ฎ Economic Uncertainty**
- The economic outlook is uncertain, and the Federal Reserve is keeping a close eye on potential risks.
**6. ๐ Confidence in Inflation Reduction Needed**
- The Fed requires more assurance that inflation is moving towards the 2% target.
**7. ๐ฐ Ongoing Inflation Battle**
- The effort to combat inflation is expected to persist for several years.
**8. ๐ธ High Interest Rates**
- If the economy remains robust and inflation high, elevated interest rates will continue for an extended period.
**Context:**
- These points follow the Fed's decision to raise their main and core personal consumption expenditure inflation forecasts.
**Stay informed and plan accordingly!**
For more details, visit the Federal Reserve's latest updates.
