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🗣️Fed Chair Jerome Powell:

•The risks are bilateral and decisions will be made in meetings.

•The U.S. economy is in a strong position; we will use our tools to keep it there.

•We have made good progress toward restoring price stability without a major increase in unemployment.

•The 50 basis point rate cut reflects growing confidence that appropriate policy readjustment can keep the labor market strong and inflation on target.

•Recent data suggests further progress toward a sustainable return to 2%.

My colleagues and I have increased confidence that inflation is on a sustainable path to 2%.

•Working conditions are strong and the labor market is nearly stable.

•Further rate cuts are expected.

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