Powell opening statement: Labor market is ‘strong but not overheated’

• Labor market is ‘strong but not overheated’ and about where it was pre-pandemic
• Longer-term inflation expectations appear to be well anchored
• Unemployment rate remains low
• Labor market has cooled, inflation has declined and risks have moved into better balance
• Attentive to both sides of dual mandate
• Q2 inflation readings have added to confidence on inflation
• Need greater confidence on inflation
• We will carefully assess incoming data for future decisions
• Policy is well-positioned to deal with risks and uncertainties

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