SUMMARY OF FED CHAIRMAN POWELL'S REMARKS (8/23/24):

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1. "Time for Fed Policy to Adjust"

2. Fed "Will Do Whatever It Takes" to Support Strong Labor Market

3. Fed Does Not Welcome Further Labor Market Weakness

4. Confidence That Inflation Is Heading to 2% Has Increased

5. The Balance of Risks to Fed's Mandate Has Changed

6. Inflation Has Declined Significantly to Target