❗️ ACCOMPANYING LETTER #FED

▫️Economic activity continues to grow at a steady pace.

▫️The unemployment rate has stabilized at a low level in recent months, and labor market conditions remain stable.

▫️Inflation remains somewhat elevated.

▫️The risks to the Fed's dual mandate are balanced (inflation/labor market).

▫️Economic prospects are uncertain.

▫️The Fed will continue to reduce its balance sheet at the current pace (#QT) – $25 billion per month.

▫️The Fed is prepared to adjust monetary policy if required by macro data from the U.S.