Powell press conference begins. - Adjustments...>

FED: Powell press conference begins.

- Adjustments are providing and will continue to provide meaningful support to

the economy. Monetary policy is in a 'good place'.

- Economy expected to grow at a 'moderate' rate. Jobs market 'strong'... Job

gains have eased but remain 'solid'. Inflation continues to run below our

symmetric objective, pressures remain muted, indicators of long-term

expectations low.

- But we expect inflation to rise to 2%. Our outlook on solid economy remains

mostly the same; views about the path of interest rates has changed due to

global growth slowdown, trade risks.

- What we have done to date will provide significant accommodation. Policy

likely to remain appropriate as long as info about economy remains in line with

our expectations. Policy in a good place to achieve these outcomes (our target).

Policy not on a preset course.