Summary of Jerome Powell Remarks, Economic Policy Symposium, Jackson Hole, August 25, 2023
MOVING FORWARD: DETERMINATION
- Two percent is and will remain the inflation target.
- Committed to achieving and sustaining a stance of monetary policy that is sufficiently restrictive to bring inflation down to that level over time.
- Each meeting is a live meeting.
- Assess intra-meeting progress based on the totality of the data and the evolving outlook and risks.
- Prepare to raise rates further if appropriate and intend to hold policy at a restrictive level until confident that inflation is moving sustainably down toward the 2% objective.
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