J. Powell

WITHOUT PRICE STABILITY, THE ECONOMY DOESN’T WORK.
THE FULL EFFECTS OF TIGHTENING IS YET TO BE FELT.
GIVEN HOW FAR WE HAVE COME AND AMID UNCERTAINTY WE ARE MOVING CAREFULLY.
SUPPLY AND DEMAND CONDITIONS FOR LABOR CONTINUE TO COME INTO BETTER BALANCE.
GDP HAS BEEN STRONG BUT FORECAST TO SLOW.
WE HAVE NOT MADE ANY DECISIONS ON FUTURE MEETINGS.
THE FED STAFF DIDN’T PUT A RECESSION BACK INTO THEIR FORECAST AT THIS MEETING.
WE ARE NOT THINKING ABOUT RATE CUTS RIGHT NOW AT ALL.
THE QUESTION WE ARE ASKING IS, SHOULD WE HIKE MORE?