đŁď¸Fed Chair Jerome Powell:
â˘It is time to adjust monetary policy.
â˘We will do everything we can to support a strong labor market while making more progress toward price stability.
â˘Conditions are much more normal now than they have been.
â˘We are not looking for any further cooling in the labor market, and we should welcome that.
â˘I am more confident that inflation is on track to return to the 2% target.
â˘Inflation has slowed significantly, and we are much closer to the target.
â˘The timing and pace of rate cuts will depend on data, outlook, and balance of risk.
â˘Inflation is now closer to our target.