00:00At today's meeting, the committee decided to lower the target range for the federal funds rate by a quarter percentage point to 3.75% to 4%.
00:09Conditions in the labor market appear to be gradually cooling, and inflation remains somewhat elevated.
00:14The shutdown of the federal government will weigh on economic activity while it persists, but these effects should reverse after the shutdown ends.
00:22If you were to see data that suggested that the labor market is strengthening or even that it's stabilizing, you know, that would certainly play into our decisions going forward.
00:30There were strongly differing views about how to proceed in December.
00:35A further reduction in the policy rate at the December meeting is not a foregone conclusion.
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