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Powell Says Decisions Depend On Totality Of Data

FED
  • Powell with the usual caveat on the SEP / dot plot, "do not represent a committee decision or plan, and no one knows with anyone certainty where the economy will be a year or more from now."
  • Says decisions are meeting by meeting, depend on the totality of incoming data.
  • Concludes with some typical recent language, says reducing inflation "likely to require a sustained sustained period of below trend growth and some softening of labor market conditions. Restoring price stability is essential to set the stage for achieving max employment and stable prices over the long run. This historical record cautions strongly against prematurely loosening policy. We'll stay the course until the job is done."

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