Powell opening statement
- The benefits of the economy aren't spreading wide enough
- Gradual return to normal rates is helping to sustain economy
- Overall growth outlook remains favorable
- Overall financial conditions remain accommodative
- Labor force participation about where it was in 2013, which is positive given aging
- PCE inflation rose 2.0% through July, we expect it near there on a sustained basis
- Dropping accommodative doesn't signal a change in policy, it shows it's moving in line with expectations
That's all from the statement. The last line led to a pop in the US dollar.
