00:01Thanks so much. Elizabeth Schulze with ABC News. Big picture. I wonder if you could tell us just what will
00:06this move today actually do for American consumers? And have to ask, what is your message here to President Trump,
00:12who has repeatedly called to cut interest rates, not raise them?
00:16I've got nothing for you on a discussion with the President, but I won't make that count as your question.
00:24On the American people, as I said in my prepared remarks, the least well-off are the ones who have
00:30the most to gain from stable prices. The decision we made today was the right decision to deliver on the
00:37remit that Congress gave us to ensure stable prices.
00:41Moreover, I would say because of the underlying strength of the economy, because we are, as I mentioned, largely acting
00:49consistent with full employment, we can be focused on stable prices. Some months ago I said we will deliver stable
00:56prices. Today's action is consistent with that.
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