-Jerome Powell's Highlights .
_ If the economy remains strong and inflation does not decline, political restrictions may be adjusted more slowly or more quickly
_ Elections will not affect policy in the near term .
_ Economic data will determine the pace of reduction .
_ The Fed will continue to monitor inflation rates while continuing to reduce interest rates .
_ The decline in employment data does not indicate any concerns .
_ If inflation remains strong, the Fed will reduce interest rates more slowly .
However, if employment declines sharply, then interest rates will be reduced more quickly .
_ The labor market is now in balance .
_ Recent economic data has been strong .
_ Some of the downside risks to the US economy have receded .
_ Overall inflation expectations are in line with a 2% inflation rate .
_ Raising interest rates is not our plan .
