00:00To what extent did the committee discuss the possibility of cutting at this meeting or in March?
00:05And how are you all thinking about the conditions that would merit another rate cut?
00:08Is there a broad agreement on the-
00:10on the committee about what it would take?
00:13So there was broad support-
00:15on the committee for holding today, broad, I would say, including-
00:20among non-voters.
00:21So that's where that was.
00:22Of course, some people did want to cut and-
00:25but committee pretty broadly for, for, for holding.
00:30Today, we're not trying to articulate a, you know, a test-
00:35for what- for when to next cut or whether to cut at the next meeting, you know-
00:40what we're saying is we're well-positioned as we make decisions meeting by meeting-
00:45looking at the incoming data, evolving outlook and all that, and, you know, we're in a position-
00:50where, you know, we have to- we still have some tension-
00:55between employment and inflation, but it's less than it was.
00:58I think that the upside risks-
01:00risks to inflation and the downside risks-
01:02risks might have probably both diminished a bit.
01:05So, you know, we'll be looking at that.
01:07It's about how you weigh the risks to the-
01:10two goals and- and- and how big those- and quantify them.
01:13And so there are different views on the committee and-
01:15you know, we'll find our way forward as the data evolve.
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