Powell Says Majority of FOMC See Two More Hikes in 2023

The transcript discusses the committee's economic forecasts, expecting modest growth below the long-term U.S. rate and a gradual cooling of the labor market. Inflation is anticipated to decrease, with the possibility of raising the federal funds rate once or twice by year-end. The committee emphasizes a moderated decision-making pace, focusing on achieving a 2% inflation target over time.

What is the expected growth rate of the United States economy according to the committee?

How does the committee expect the labor market to change in the future?

What is the committee's expectation regarding inflation in the coming year?

What actions does the committee believe will be appropriate regarding the federal funds rate?

What does the data show about public belief in the committee's ability to manage inflation?