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

Group 1 - The near-term risks to inflation are tilted to the upside, while risks to employment are tilted to the downside, indicating a challenging situation for policy [1] - The framework emphasizes a balanced approach to promote both sides of the dual mandate, with increased downside risks to employment noted in recent months [2] - The decision-making process remains flexible, with the appropriate stance of monetary policy being determined by incoming data and evolving outlooks [3] Group 2 - There were strongly differing views on the approach for the December meeting, indicating that a further reduction in the policy rate is not guaranteed [4] - The policy direction is not on a pre-set course, highlighting the uncertainty in future monetary policy decisions [4]