Powell opening statement: Further progress on inflation not assured, path uncertain ...Middle East

Economy has made considerable progress toward dual goalsIn recent months inflation has shown a lack of progress and we remain highly attentiveInflation still too high, further progress not assuredPrivate domestic final purchases were as strong as the second half of last year, that is an underlying signal for demandSupply and demand for labor has come into better balanceStrong job creation has been met with increased supply but demand still exceeds supplyEconomic outlook is uncertainWe do not expect it will be appropriate to cut until we gain greater confidence inflation moving towards 2%It is likely that gaining greater confidence will take longerWe are prepared to hold rates longer We are a

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