Fed press conference:
CBS News: What does the Fed want to say to the American people? Economic indicators are good, but looking around, they don't look very optimistic.
FED: We do not interfere with people's emotions. They have their own feelings and it's none of the Fed's business. We share how we feel when we see economic indicators such as inflation rate and unemployment rate.
We continue to believe that we are on the right track. I know that high interest rates negatively affect their lives, but what's worse is that we do nothing and let inflation rise.
CBS News: You keep saying you don't know the future, I get it, but millions of people can't borrow money to buy a house because of high interest rates. What would you like to tell them? Give them some hope for when interest rates will drop.
FED: We do not have a specific time frame, we need to trust that inflation will decrease in the long term. When inflation stabilized, people's lives also stabilized and we were in that period for a long time, we will bring people back to that period.