The title of the speech is “Finding Harmony in the Noise: Transitioning to a New Normal”. These are his first comments since the Sept 18 FOMC press conference.
More to come
Risks are two-sided, decisions will come meeting by meetingWe do not need to see further cooling in the labor market to achieve targetEconomy is in solid shape, we intend to use our tools to keep it thereLabor market conditions are solid, labor market roughly in balanceColleagues and I have greater confidence inflation is on a sustainable path to 2%Disinflation is broad based; recent data indicate further progress toward sustained return to 2%Housing services inflation will continue to decline as long as growth rate in rents for new tenants remains low50 bps cut reflects growing confidence that appropriate policy re calibration can maintain labor market strengthFull text
These comments are very similar to what he said at the press conference. He will take questions afterwards.
This article was written by Adam Button at www.forexlive.com.
