Transcript: Fed Chief Powell’s Post-Meeting Press Conference

Transcript: Fed Chief Powell’s Post-Meeting Press Conference


September 20, 2023, 5 p.m. ET


Federal Reserve Chairman Jerome Powell explained why the central bank decided to keep interest rates at their highest level in 22 years during a news conference Wednesday after his policy meeting. Powell said the Fed could afford to pause its rate-hike campaign to assess how it was working, but stressed that it would take time to bring inflation back to 2% sustainably and that the central bank was prepared to increase rates further. Here is a transcription of his remarks.



With a penchant for words, Eleon Smith began writing at an early age. As editor-in-chief of his high school newspaper, he honed his skills telling impactful stories. Smith went on to study journalism at Columbia University, where he graduated top of his class. After interning at the New York Times, Smith landed a role as a news writer. Over the past decade, he has covered major events like presidential elections and natural disasters. His ability to craft compelling narratives that capture the human experience has earned him acclaim. Though writing is his passion, Eleon also enjoys hiking, cooking and reading historical fiction in his free time. With an eye for detail and knack for storytelling, he continues making his mark at the forefront of journalism.
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