Comments from Powell

  • Job growth has been 'well above' pace needed to sustain labor force
  • We expect that the job market will remain strong
  • Foreign growth is on 'a firm trajectory'.
  • Raising rates too slowly would raise the risk of having to tighten too quickly later
  • Baring a very significant change in the outlook, we don't intend to alter balance sheet runoff process
  • Full text of the opening statement

Nothing surprising in the opening statement.