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FED: Powell Stresses All 19 Participants Forecast Multiple 2024 Cuts

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  • Q: Was 25 vs 50 a close decision?
    • A: I think we left it open going into blackout, and there was a lot of discussion, back and forth, an excellent discussion today. There was broad support for the decision on the Committee. In the SEP, all 19 participants wrote down multiple cuts this year.
    • We're going to take it meeting by meeting, the Committee's not in a rush to do this. "We made a good strong start to this" and that's a sign of our confidence that inflation is coming down toward 2% on a sustainable basis.
  • Q: The FOMC sees unemployment reaching 4.4% and staying there, that doesn't usually happen - how do you see the labor market stabilizing?
    • A: The labor market is in solid condition and our intention is to keep it there- you can say that about the whole economy.
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  • Q: Was 25 vs 50 a close decision?
    • A: I think we left it open going into blackout, and there was a lot of discussion, back and forth, an excellent discussion today. There was broad support for the decision on the Committee. In the SEP, all 19 participants wrote down multiple cuts this year.
    • We're going to take it meeting by meeting, the Committee's not in a rush to do this. "We made a good strong start to this" and that's a sign of our confidence that inflation is coming down toward 2% on a sustainable basis.
  • Q: The FOMC sees unemployment reaching 4.4% and staying there, that doesn't usually happen - how do you see the labor market stabilizing?
    • A: The labor market is in solid condition and our intention is to keep it there- you can say that about the whole economy.