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
“We are significantly closer to neutral, still restrictive.”
“As long as the labor market, economy is solid, can be cautious as we consider further cuts.”
“We think the economy in a real good place and policy too.”
“What’s driving the slower rate-cut path is stronger economic growth and lower unemployment.”
“Also driving the slower rate-cutting path is higher inflation this year
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