Powell opening statement: We’re committed to preserving our economy’s strength

• Decision reflects our growing confidence that strength in our labor market can be maintained
• Consumer spending has remained resilient
• Economy is strong overall
• Labor market has continued to cool
• If inflation were to fall more quickly, we are prepared to respond
• We will adjust policy as necessary

Quoteable:

“This decision reflects our growing confidence that with an appropriate recalibration of our policy stance, strength in the labor market can be maintained in the context of moderate growth and inflation move substantially down to 2%.”

The US dollar is at fresh session lows as Powell speaks. I think the headline that “We’re committed to preserving our economy’s strength” says it all.

This article was written by Adam Button at www.forexlive.com.