Powell:
- No Rate Decision was made for September meeting
- Despite uncertainty, the economy remains in a solid position.
- The economy is in a solid position.
- I expect PCE up 2.5% and core up 2.7% in the 12 months through June.
- Labour market conditions are broadly in balance, and unemployment remains low.
- A wide set of indicators suggests that the job market is near maximum employment.
- Moderation in growth reflects a slowdown in consumer spending.
- Indicators suggest economic growth has moderated.
- Tariffs have exerted pressure on some goods, but the wider impact is uncertain.
- There is downside risk to the labour market.
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