Fed's Powell Says Inflation Is Moving Closer to Our Goal

The Federal Reserve is focused on its dual mandate of maximum employment and stable prices. Recent economic indicators show strong GDP growth and a solid labor market, though inflation remains slightly above the 2% target. The Fed has lowered the policy interest rate and continues to adjust its monetary policy to maintain economic strength. Future policy adjustments will depend on economic data and risks. The Fed remains committed to its goals, understanding the impact of its actions on the American public.

What are the dual mandate goals of the Federal Reserve?

How has the labor market changed over the past two years according to the text?

What steps did the Federal Open Market Committee take to support maximum employment and control inflation?

What indicators suggest the current state of the economy and inflation?

What is the projected unemployment rate according to the Summary of Economic Projections?

How does the Federal Reserve plan to adjust its monetary policy in response to economic conditions?

What are the potential risks associated with the Federal Reserve's monetary policy actions?