🚨Key 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.

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