
Federal Reserve Chairman Jerome Powell explains the decision to cut the policy rate, federal funds rate, by 25 basis points to the range of 4.25%-4.5% after the December meeting and responds to questions in the post-meeting press conference.
Key quotes
“Squarely focused on two goals.”
“The economy is strong, labor market remains solid.”
“Inflation much closer to the 2% goal.”
“Consumer spending resilient, investment in equipment has strengthened.”
“Housing activity has been weak.”
“Improving supply has supported strong us economic performance.”
“Wage growth has eased.”
“Labor market not a source of inflation pressures.”
“Total PCE probably rose 2.5% in 12
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