Powell Says It's a 'Great Time' for the Fed to Be Patient, Watch and Wait

The transcript discusses the shift from two rate hikes in 2019 to none, with one projected for the next year. It explores the possibility of rate cuts by the end of the year, given the current economic data. The speaker emphasizes patience, noting that the policy rate is neutral, the economy is growing at trend, inflation is near target, and unemployment is below 3%. This is seen as an opportune time to observe how the economy evolves.

What has been the change in rate hikes from 2019 to the present?

What is the current outlook for rate changes next year according to the text?

What does the data suggest about the possibility of rate cuts at the end of the year?

How is the current economic growth described in the text?

What is the significance of being patient in the current economic context?