Powell: This is "a risk-management cut."

I think you could think of this in a way as a riskmanagement cut because if you look at the SEP actually the projections for growth this year and next actually ticked up just a little bit and inflation and unemployment didn't really move much. So what what's different now. What's different now is that you see a very different picture of the risks to the labor market.You know, we were looking at 150,000 jobs a month at the time of the last meeting. And now we see the revisions and we see the new numbers. And ...