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

Inflation & Employment Risks - Near-term inflation risks are tilted to the upside, while employment risks lean towards the downside [1] - Navigating the tension between employment and inflation goals presents a challenging situation with no risk-free policy path [1] Monetary Policy Stance - The framework emphasizes a balanced approach in promoting both sides of the dual mandate [2] - Downside risks to employment have increased in recent months, shifting the balance of risks [2] - The company judged it appropriate to take another step toward a more neutral policy stance [2] - The company remains well-positioned to respond in a timely way to potential economic developments [3] - The appropriate stance of monetary policy will be determined based on incoming data, the evolving outlook, and the balance of risks [3] - The committee continues to face two-sided risks in its discussions [3] Future Policy Decisions - Strongly differing views exist about how to proceed in December [4] - A further reduction in the policy rate at the December meeting is not a foregone conclusion [4] - Policy is not on a pre-set course [4]