⚡️ Jerome Powell (Chairman of the Federal Reserve):
✔️ The economy remains generally strong.
✔️ The labor market continues to cool, which is a significant step forward compared to the beginning of this year.
✔️ Today's decision reflects growing confidence that labor market stability can be maintained.
✔️ Consumer spending remains steady.
✔️ Inflation has noticeably decreased but remains above our target level.
✔️ The labor market is not a source of increased inflationary pressure.
✔️ We expect stable GDP growth.
✔️ Inflation risks have diminished.
❗️ The risks of worsening conditions in the labor market (employment) have increased.
✔️ Our forecasts are not a plan or decision.
✔️ We will adjust the Federal Reserve's monetary policy as necessary.
✔️ If the labor market situation worsens, we can respond.
❗️ We can lower interest rates faster or slower, or pause if appropriate (depending on the economy).
✔️ Most Federal Reserve governors supported today’s 50 basis point cut, but there was strong debate.
1September 18, 2024 2.7K 3
