Powell Says Federal Reserve to 'Proceed Carefully' on Rate Path

The Federal Reserve is committed to promoting maximum employment and stable prices. Despite significant monetary policy tightening, inflation remains above the 2% goal. Economic activity is expanding, with robust consumer spending and a tight labor market. The Fed plans to maintain a restrictive policy stance to bring inflation down, considering economic projections and risks. Future decisions will be data-driven, aiming for price stability and maximum employment.

What is the Federal Reserve's mandate regarding employment and prices?

How has the Federal Reserve responded to high inflation since early last year?

What are the expected trends for real GDP growth according to the FOMC projections?

What challenges does high inflation pose to the economy and individuals?

What is the projected path for the federal funds rate according to the FOMC participants?

How does the Federal Reserve plan to balance economic activity and inflation?

What measures are being taken to achieve the inflation target of 2%?