POWELL SPEECH: THERE WAS REAL DISCUSSION ABOUT CASE FOR REDUCING RATES AT THIS MEETING
Federal Reserve Chairman Jerome Powell explains the decision to leave the policy rate, federal funds rate, unchanged at the range of 5.25%-5.5% and responds to questions in the post-meeting press conference.
Key takeaways
"We have a very difficult judgment call on rates."
"All 19 participants supported decision today."
"There was a real discussion about the case for reducing rates at this meeting."
"Strong majority supported not moving rates at this meeting."
"Policy lags beginning to show up in economy over last 6 months."
"I feel good about where we are."
"We are well positioned to respond to any weakness in the economy, not what we are seeing though."
"We have a lot of room to respond if we saw weakness."
"Wage gains are still at a high level."
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