Powell Says There Was 'Broad' Support to Hold Fed Rates

• Broad support within the committee for holding interest rates at the current meeting.
• Risks to both inflation (upside) and employment (downside) have diminished.
• Future decisions on rate cuts will be data-dependent and made on a meeting-by-meeting basis.

Federal Reserve Chair Jerome Powell announced the committee's broad support for holding interest rates steady at the current meeting. He noted that both upside risks to inflation and downside risks to employment have diminished, indicating a more balanced economic outlook. Future rate decisions will be made meeting by meeting, based on incoming data and evolving economic conditions.