🗣️Fed Chair Jerome Powell:

•The labor market remains strong.

•Inflation has eased significantly.

•The economy is strong. Improving supply conditions have supported the economy.

•The Fed took another important step in reducing the policy rate.

•We are committed to maintaining the strength of the economy. We are committed to our 2% inflation target.

•Overall inflation has moved much closer to the target.

•Core inflation remains high.

•Growth in consumer spending remains resilient.

•Today, the Fed lowered interest rates to further adjust our policy stance.