Powell: Fed Officials Don't Expect Rate Cuts This Year

The transcript discusses the economic outlook, highlighting expectations of slow growth and no rate cuts this year. It emphasizes the uncertainty in the economic path and how policy will adapt to actual developments. The Federal Reserve's approach to monetary policy is explored, focusing on the role of credit conditions as a substitute for rate hikes to control inflation, aiming to bring it down to 2% over time.

What factors contribute to the uncertainty in the path of the economy?

What measures are being considered to bring inflation down to 2%?