Powell opening statement: Path forward is uncertain. Full effects of tightening to come ...Middle East

Growth in economic activity has slowed substantiallyGiven how far we've come, and given uncertainties, we are proceeding carefullyInflation has eased with a significant rise in unemploymentLabor demand still exceeds supply, but gap has narrowedWage growth appears to be easingActivity in housing sector has flattened outHigher interest rates also weighing on business fixed investmentLower inflation readings are welcome but we will need to see further evidenceWe anticipate that the process of getting inflation all the way to 2% will take timeWe're highly attentive to the risks that high inflation poses to both sides of our mandateWe believe that we're at or near peak rates in this cycleWe are p

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