Federal Reserve Chairman Jerome Powell explains the decision to cut the policy rate, federal funds rate, by 50 basis points to the range of 4.75%-5% after the September meeting and responds to questions in the post-meeting press conference.
Key quotes
"Our projections are not a plan or decision."
"We will adjust policy as necessary."
"If the economy remains solid, we can dial back the pace of cuts; equally, if the labor market deteriorates, we can respond."
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