In a press conference on September 18, 2024, Federal Reserve Chair Jerome Powell highlighted the Fed's commitment to achieving maximum employment and price stability. The Fed reduced its policy interest rate by 0.5 percentage points, reflecting confidence in the economy's ability to sustain growth while managing inflation, which has decreased from 7% to an estimated 2.2%. Economic activity is expanding, with GDP growth projected at around 2%. While the labor market has cooled, with job gains averaging 116,000 per month and an unemployment rate of 4.2%, conditions remain favorable. The Fed anticipates a balanced risk profile for inflation and employment, guiding future monetary policy decisions based on incoming data. Powell emphasized that while inflation is moving towards the 2% target, the Fed is not declaring victory yet, as sustained stability is still necessary. The meeting underscored the Fed's cautious yet proactive approach to monetary policy amidst evolving economic conditions.