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 actions did the Federal Open Market Committee decide to take regarding the policy interest rate?

What are the potential risks mentioned in the text regarding employment and inflation goals?

What is the significance of the 2% inflation goal for the Federal Reserve?