FED Chair Powell's press conference begins!
- Our economy is strong and we have made great progress towards our goal in the last 2 years.
- Inflation has declined from its peak to 2%.
- The Fed can protect the strength of the workforce with policy adjustments.
- This decision reflects our belief that the strength in the labor market can be maintained with the correct reassessment of our interest rate policy and that inflation is moving sustainably towards the 2% target.
- Unemployment is up but historically low. Wage growth has fallen. High employment is not a source of inflation.
- Long-term inflation expectations are approaching 2% in 2025.
- A number of indicators generally suggest that the labor market is not as tight as it used to be.
- If the economy remains strong, we can slow the pace of interest rate cuts. Similarly, if the labor market deteriorates, we can respond.
