Transcript: Fed Chief Powell’s Postmeeting Press Conference

Federal Reserve Chairman Jerome Powell discussed why the central bank raised interest rates by a quarter percentage point during a press conference after the Fed’s policy meeting, and said that decisions regarding further policy tightening would be made on a meeting-by-meeting basis. Mr. Powell also said central bank officials are prepared to do more to try to bring inflation down to their 2% target if warranted. Additionally, he said the U.S. banking system remains resilient despite its recent turmoil. Here is a transcript of his remarks.

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