Fed Is Not in Hurry to Lower Rates, Powell Says

The Federal Reserve discusses its dual mandate of maximum employment and stable prices, highlighting recent economic progress. The labor market remains solid, and inflation is closer to the 2% goal. The Fed's policy rate remains unchanged, with a focus on balancing risks. A review of the monetary policy framework is underway, with public outreach planned. The Fed remains committed to its goals, understanding the impact on communities and businesses.

What are the dual mandate goals of the Federal Reserve?

• Stable currency and balanced budget

• Maximum employment and stable prices

• Low inflation and high interest rates

• High GDP growth and low unemployment

What has been the trend in GDP growth for 2024?

• Above 2%

• Negative growth

• Below 1%

• Between 1% and 2%

How has the labor market been described in recent times?

• Overheated and unstable

• Weak and declining

• Inflationary and volatile

• Solid and balanced

What is the current stance of the Federal Reserve's policy rate?

• Highly restrictive

• Moderately restrictive

• Completely unrestrictive

• Less restrictive

What is the Federal Reserve's approach to adjusting the policy stance?

• Focusing solely on inflation

• Ignoring incoming data

• Adjusting based on economic evolution

• Following a preset course

What is the purpose of the Federal Reserve's five-year review?

• To reduce employment

• To increase interest rates

• To evaluate the monetary policy framework

• To change the inflation goal

What remains a key focus of the Federal Reserve despite the review?

• Eliminating all inflation

• Maintaining a 2% inflation goal

• Reducing unemployment to 0%

• Increasing GDP growth