đšKey Points from Fed Chairman Powell's Speech:
The economy is generally strong.
The labor market has moved from overheating to a normal state.
Inflation has significantly decreased since August.
The Fed is focused on its targets, reflecting confidence in the labor market.
A patient approach has yielded positive results.
Consumer spending remains robust.
Expectation of continued strong GDP growth.
Inflation has dropped from its peak to around 2%, but is still above the target.
Labor market conditions are less tight than pre-pandemic levels.
Rate cuts are 50 BPS
Overall, Powell conveys a positive outlook with no indication of a recession.
