Fed's Powell: It is a less likely possibility that the labour market gets tight and boosts inflation; not particularly likely

*POWELL: INFLATION REMAINS SOMEWHAT ELEVATED FED POWELL: JOBS & INFLATION OUTLOOK UNCHANGED SINCE LAST MEETING Fed's Powell: The labour market appears to be gradually cooling. *POWELL: DATA SUGGEST ECONOMY EXPANDING AT MODERATE PACE *POWELL: CONSUMER SPENDING REMAINS SOLID *POWELL: BUSINESS FIXED INVESTMENT HAS CONTINUED TO EXPAND Fed's Powell: The effects of the shutdown should be offset by higher growth next quarter from the reopening.

*POWELL: GRADUAL LABOR MARKET COOLING JUSTIFIED RATE CUT TODAY Fed's Powell: We think there's a negative 20,000 in payrolls per month. ?*POWELL: WE THINK JOB GAINS OVERSTATED BY 60K IN RECENT MONTHS Fed's Powell: Evidence is growing that services inflation has come down, and goods inflation is entirely due to tariffs. Fed's Powell: Inflation has come in a touch lower.

Fed's Powell: Implication of Fed forecasts is higher productivity. POWELL: OUR TWO GOALS ARE A BIT IN TENSION POWELL: EVERYONE AT TABLE AGREES INFLATION IS TOO HIGH Fed's Powell: All agree the labour market has softened, and there are further risks. FED POWELL: DISCUSSIONS ARE THOUGHTFUL AND RESPECTFUL WITH STRONG VIEWS, BUT WE COME TOGETHER TO REACH DECISIONS, AND THERE WAS BROAD SUPPORT FOR TODAY’S DECISION.