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Powell On Whether The Two Tests For Rate Liftoff Have Been Met

FED

Q: Have the two tests for rate liftoff been met?

  • A: That's a decision for the Committee..."That question is not before us right now. We had the question on when to taper. We have now answered that question and the speed of it. We have not focused on whether we meet the liftoff test, because we don't meet it now, because we are not at maximum employment. Given where inflation is and where it's projected to be."
  • "The answer may be, it's been met, but we are not asking that question today because we are not running a liftoff test. We didn't have that discussion at today's meeting. We talked about the economy and development of the economy. We didn't ask whether the lift off test is met because it's clearly not met on the employment side."
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