Federal Reserve Chair Jerome Powell explains the decision to cut the policy rate, the federal funds rate, by 25 basis points to the 4.25%-4.5% range after the December meeting and answers questions at the press conference after the meeting.
Key quotes
“Geopolitical turmoil remains a risk.”
“There is great uncertainty when projecting the economy for 3 years.”
“It’s been frustrating, progress on inflation is slower than expected.”
“Still, I feel good about where we’re headed.”
“We will not settle for inflation higher than 2%.”
“We have every intention of bringing inflation to 2%, I am sure we will achieve it.”
“We have made great progress.”
“We don’t rule out or include things.”
“A rate hike does not appear to be a likely outcome next year.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
