CSPAN3 Federal Reserve News Conference July 13, 2024
Good morning, everyone. Earlier today the federal open Market Committee announced a onehalf percentage point reduction in the target range for the federal funds rate, bringing that range to 1 to 1 1 4 percent. My colleagues and i took this action to help the u. S. Economy keep strong in the face of new risks to the Economic Outlook. The fundamentals of the u. S. Economy remain strong. The unemployment race has been near half century lows. The pace of job gains have been solid and wages have been rising, underpinning solid Household Spending which has been the key driver of Economic Growth over...