Fed's Powell Says 'Noteworthy Risks' to Economy Remain

The transcript discusses the Federal Reserve's commitment to maximum employment and price stability, highlighting the US economy's current expansion phase. It covers GDP growth, labor market trends, and inflation rates, noting the impact of trade developments and sluggish global growth. The Fed's policy adjustments aim to support economic activity, but risks remain. The labor market shows solid job gains, with notable improvements for lower-paid workers, though disparities persist across different demographics. Inflation remains below target, posing potential risks to long-term expectations.

What are the two main goals set by Congress for monetary policy?

• Fiscal responsibility and budget surplus

• Interest rate control and inflation reduction

• Maximum employment and price stability

• Economic growth and trade balance

What was the annual GDP growth rate in the third quarter?

• 0.9%

• 2.5%

• 1.9%

• 3.6%

Which factor contributed to the moderate GDP growth in the third quarter?

• Increase in exports

• UAW strike at General Motors

• Surge in business investment

• Rise in energy prices

What is the current unemployment rate mentioned in the transcript?

• 2.8%

• 4.0%

• 3.6%

• 5.2%

What is the FOMC's symmetric inflation objective?

• 3.0%

• 2.5%

• 2.0%

• 1.5%