🛠️The economy has made considerable progress towards the dual mandate of inflation and strong labor market.
📢️Inflation is still too high and ongoing progress in bringing it down is uncertain.
🛩️The Federal Reserve is fully committed to returning inflation to their 2% goal.
🤔️The FOMC decided to keep policy interest rates unchanged and continue reducing securities holdings.
📈️Risks to achieving employment and inflation goals are moving into better balance.
What is the current state of the economy?
—The economy has made progress towards the dual mandate of inflation and strong labor market, but inflation is still too high.
What are the actions taken by the Federal Reserve?
—The Federal Reserve decided to keep policy interest rates unchanged and continue reducing securities holdings.
What are the risks to achieving employment and inflation goals?
—The risks are moving into better balance, but the path forward is still uncertain.
What is the commitment of the Federal Reserve towards inflation?
—The Federal Reserve is fully committed to returning inflation to their 2% goal.
What is the outlook for GDP growth?
—GDP growth is projected to slow, reflecting the strength of incoming data.
00:00The economy has made progress towards the dual mandate of inflation and strong labor market.
00:32The FOMC decided to keep policy interest rates unchanged and continue reducing securities holdings.
01:03Economic activity has been expanding, but GDP growth is projected to slow.
01:58The labor market remains relatively tight, but wage growth has eased.
02:42The Federal Reserve is fully committed to returning inflation to their 2% goal.
03:04Risks to achieving employment and inflation goals are moving into better balance.
04:08The risks are two-sided, and the Fed wants to be careful in their actions.
05:53Overall, the Fed remains committed to achieving maximum employment and price stability.
