Powell: "The baseline outlook and the shifting balance of risks may warrant adjusting our policy."

Monetary Policy Stance - Policy rate is 100 basis points closer to neutral than a year ago [1] - Policy is now in restrictive territory [1] - Shifting balance of risks may warrant adjusting policy stance [1] Labor Market Conditions - Stability of the unemployment rate allows for careful consideration of policy changes [1] - Other labor market measures also support a careful approach [1] Outlook - Baseline outlook may warrant adjusting policy stance [1]