Powell Says December Fed Rate Cut 'Far From' Foregone Conclusion

Watch Powell Says December Fed Rate Cut 'Far From' Foregone Conclusion - Bloomberg on Dailymotion

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00:00In the near term, risks to inflation are tilted to the upside and risks to employment to the

00:05downside. A challenging situation. There is no risk-free path for policy as we navigate this

00:12tension between our employment and inflation goals. Our framework calls for us to take a

00:17balanced approach in promoting both sides of our dual mandate. With downside risks to employment

00:23having increased in recent months, the balance of risks has shifted. Accordingly, we judged it

00:28appropriate at this meeting to take another step toward a more neutral policy stance.

00:34With today's decision, we remain well positioned to respond in a timely way to potential economic

00:40developments. We will continue to determine the appropriate stance of monetary policy

00:45based on the incoming data, the evolving outlook, and the balance of risks. We continue to face

00:51two-sided risks. In the Committee's discussions at this meeting, there were strongly differing

00:58views about how to proceed in December. A further reduction in the policy rate at the December

01:04meeting is not a foregone conclusion. Far from it. Policy is not on a preset course.

01:10Far from it.

01:12Now on

01:12unison