00:00We are going to need to see how this evolves.
00:03There are cases in which it would be appropriate
00:05for us to cut rates this year.
00:07There are cases in which it wouldn't.
00:09And we just don't know.
00:10Until we know more about how this is going to settle out
00:14and what the economic implications are for employment
00:17and for inflation, I couldn't confidently say
00:24that I know what the appropriate path will be.
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