- We've been surprised on the upside this year with growth
- Inflation is still well-above target but moving in the right direction
- People who dropped out of the labor market in the pandemic came back in 2023 and we had more immigration
- We think the right thing to do right now is to move carefully
- It will be awhile before we understand how AI impacts the economy and whether it adds to jobs or displaces them
- As long as unemployment remains low with wages rising, some spending will continue
Powell was asked about holiday party plans and said "For me a big, big party, as good as it gets, is a really good inflation report."
