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🗣️Federal Reserve Chairman Jerome Powell:
•We are focused on two targets. The labor market maintains its robustness.
• Economic activity expanded steadily.
• Closer to our 2% inflation target.
• The labor market continues to be strong.
• Recovering supply supported the economic performance of the United States.
•Today we lowered the interest rate range and are moving towards a more neutral level.
• Risks towards reaching the goals are roughly balanced.
Please provide the text to be translated.
🗣️Federal Reserve Chairman Jerome Powell:
We can be more cautious about the interest rate cut.
We do not have a predetermined trajectory on interest rates.
•Currently, the policy is less restrictive compared to the period when interest rate cuts began.
• The policymakers' projections regarding interest rates are consistent with high inflation, indicating higher rates for the coming year.