FED CHAIRMAN POWELL'S PRESS STATEMENT SUMMARY (09/18/2024)

- The economy is generally strong.

- The labor market has cooled from its previous overheating.

- Our decision today reflects growing confidence that the labor market can maintain its strength.

- Consumer spending remains resilient.

- The Fed can maintain the strength of the labor market by tightening policy.

- Our forecasts indicate that we expect GDP growth to remain strong.

- The labor market has continued to cool, representing a significant decline from earlier this year.

- The labor market is not the source of high inflationary pressures.

- Inflation has fallen markedly but remains above our target....

- Long-term inflation expectations appear firmly anchored.

- Our patient approach has paid off, and inflation is now much closer to our target.

- Upside risks to inflation have receded, downside risks to the labor market have increased...