To watch LIVE
The prepared text highlights (released yesterday)
- factors pushing inflation upward will linger well into next year
- inflation running well above 2% goal, pushed up by pandemic-related supply and demand imbalances
- continue to expect inflation will move down significantly over the next year
- we will use our tools to support economy and strong labor market, and to prevent higher inflation from becoming entrenched
- economy continues to strengthen
- conditions in labor market have continued to improved
- still ground to cover to reach maximum employment, expect progress to continue
- slack is diminishing in the labor market
- rise in covid cases, omicron variant pose downside risks to employment, increased uncertainty for inflation
