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January 30, 2019
Chairman Powell™s Press
Conference
FINAL
Page
1 of
24 Transcript of
Chair
man
Powell™s
Press Conference
January
30, 2019 CHAIRMAN POWELL
. Good afternoon, everyone, and welcome.
I will start with a
recap of our discussions, including our assessment of the outlook for the economy and the
judgments we made about our interest rate policy and our balance sheet.
I will cover the
decisions we made today as well as our ongoing discussio
ns of matters on which we expect to
make decisions in coming meetings.
My colleagues and I have one overarching goal:
to sustain the economic expansion, with
a strong job market and stable prices, for the benefit of the American people.
The U.S. economy
is in a good place, and we will continue to use our monetary policy tools to help keep it there.
The jobs picture continues to be strong, with the unemployment rate near historic lows and with
stronger wage gains.
Inflation remains near our
2 percent goa
l.
We continue to expect that the
American economy will grow at a solid pace in 2019, although likely slower than the very strong
pace of 2018.
We believe that our current policy stance is appropriate at this time.
Despite this positive outlook, over the
past few months we have seen some crosscurrents
and conflicting signals about the outlook.
Growth has slowed in some major foreign economies,
particularly
in
China and Europe.
There is elevated uncertainty around several unresolved
government policy iss
ues, including Brexit, ongoing trade negotiations, and the effects from the
partial government shutdown in the United States.
Financial conditions tightened considerably
late in 2018 and remain less supportive of growth than they were earlier in 2018.
And, while
most of the incoming domestic economic data have been solid, some surveys of business and
consumer sentiment have moved lower, giving reason for caution.
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