More work to do on inflationRemarkable progress on inflation is not victorySlowing inflation without significant decline in unemployment is unequivocally good newsNeed more time, data to be sure of continued progress on inflationRisks ahead include slower inflation progress, faltering labor marketFed needs to resist temptation to act quickly when patience is neededuncertain whether better productivity numbers will continuedisruptions in Red Sea, Panama Canal could be a new source of riskongoing economic momentum is a risk to inflation progressMajor indices are trading at:Dow Industrial Average -6.48 points or -0.02% at 38769S&P unchanged at 5029.67NASDAQ index -36.21 points or -0.23% at 158
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