If economy remains solid, we can dial back pace of cuts

Federal Reserve Chairman Jerome Powell explains the decision to cut the policy rate, federal funds rate, by 50 basis points to the range of 4.75%-5% after the September meeting and responds to questions in the post-meeting press conference.

Key quotes

“Our projections are not a plan or decision.”

“We will adjust policy as necessary.”

“If the economy remains solid, we can dial back the pace of cuts; equally, if the labor market deteriorates, we can respond.”