During Wednesday's press briefing, Federal Reserve Chair Jerome Powell discussed the decision to keep interest rates steady.
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00:00CHAIRMAN BERNANKE.
00:07Good afternoon.
00:10My colleagues and I remain squarely focused
00:12on achieving our dual-mandate goals of maximum employment
00:15and stable prices for the benefit of the American people.
00:19Despite heightened uncertainty,
00:21the economy is still in a solid position.
00:23The unemployment rate remains low,
00:26and the labor market is at or near maximum employment.
00:30Inflation has come down a great deal,
00:32but has been running somewhat above our 2 percent longer-run objective.
00:36In support of our goals, today the Federal Open Market Committee
00:41decided to leave our policy interest rate unchanged.
00:45The risks of higher unemployment
00:47and higher inflation appear to have risen,
00:49and we believe that the current stance
00:51of monetary policy leaves us well-positioned to respond
00:54in a timely way to potential economic developments.
00:57JEPSON
01:04SOCIAL