Powell: Fed Doesn't See Rate Cuts Happening Anytime Soon

The transcript discusses the committee's consideration of raising interest rates a few times before the year's end, expecting modest economic growth, a cooling labor market, and improved inflation. The goal is to achieve a 2% inflation rate. Future interest rate reductions are not anticipated soon, as they depend on consistent economic performance and inflation trends. The summary of economic projections suggests potential rate cuts by the end of 2024, contingent on inflation moving towards the 2% target.

What does the speaker expect regarding the labor market?

What is the target inflation rate mentioned in the text?

What factors are expected to influence the decision to raise interest rates according to the text?

What is the significance of the economic projections filed by the participants?

How does the speaker describe the persistence of inflation compared to expectations?