Graham Stephan, relaying another source: Inflation — around 2%

The window it was checked over

Consumer price index (CPI): U.S. Bureau of Labor Statistics via FRED, figures as first published. The shaded span is the window the call was checked over; grey bands are recessions.

What was said around it

inflation. And that's why they're taking it meeting by meeting to determine what's going to happen next. However, in terms of where they expect the market to move over the next few years, today is where they release what's called their summary of economic projections, which details exactly what they anticipate to happen in the near future. And now the Federal Reserve has made it clear that they expect a cut by another 50 basis points by the end of the year due to growing job uncertainty. On top of that, they're predicting that inflation will remain above 2% throughout 2028, suggesting that their plan is overall to cut aggressively in 2025 and then take it a bit slower throughout the next year, depending on the data. Beyond that, Jerome Powell went on to say that today was a riskmanagement cut and that job growth was below break even. So, the market currently believes that the Fed might be too late to cut interest rates, which is why everything has begun selling off towards the end of the day. So, overall, in terms of what I think, look, the jobs numbers were pretty bad. And it's not surprising the Federal Reserve is stepping in to rescue the market, even though they're doing that at a time when

What a person said is shown in their own words and is never translated. The link goes to the exact second in the video.