📣Highlights from Jerome Powell's speech so far ✌️
🟢We are fully focused on two goals.
🟢The labor market remains strong but has begun to cool.
🟢Economic activity has expanded at a steady pace.
🟢Consumer spending is resilient and investment is stronger.
🟢The labor market is not a source of inflationary pressures.
🟢Total personal consumption expenditures likely rose 2.5% in the 12 months ending in November.
🟢The committee will assess the situation with each meeting.
🟢Target interest rate next year: 3.9%.
🟢If the markets do not respond to our decisions and policies,we will stop our reduction policy.
🟢Or if inflation falls towards our target of 2%,we will respond to that and reduce interest rates.
🟢We understand that our decisions affect many citizens, but our goal is to stabilize the labor market and reduce inflation.