Powell Says Fed 'at or Near a Point' to Slow, Pause Cuts

The transcript discusses the rationale behind recent economic decisions, focusing on achieving maximum employment and price stability. It analyzes the current state of the labor market, noting a gradual cooling and reduced job creation. Inflation trends are explored, highlighting a decrease in core inflation but noting recent high readings in non-market services. Future economic projections are discussed, with a focus on policy adjustments and the potential for further rate cuts based on inflation progress and labor market strength.

What was the primary reason for deciding to cut rates according to the first section?

• To balance the risks of economic activity and inflation

• To increase inflation

• To stabilize the housing market

• To decrease employment

How is the labor market described in the first section?

• Rapidly improving

• Unchanged since 2019

• Looser than pre-pandemic levels and gradually cooling

• Tighter than pre-pandemic levels

What is the current status of core inflation as mentioned in the second section?

• Unchanged from last year

• Stable at 5.6%

• Decreasing significantly

• Increasing rapidly

What is the committee's approach to future rate cuts as discussed in the third section?

• They will not make any more cuts

• They will increase rates instead

• They will make cuts based on pre-determined plans

• They will react to data and be cautious

What factors will influence additional rate cuts according to the third section?

• International trade agreements

• Political changes

• Public opinion

• Further progress on inflation and labor market strength