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Each Such Interest State the Following Form

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[Music] good afternoon my colleagues and i are strongly committed to bringing inflation back down and we're moving expeditiously to do so we have both the tools we need and the resolve it will take to restore price stability on behalf of american families and businesses the economy and the country have been through a lot over the past two and a half years and have proved resilient it is essential that we bring inflation down to our two percent goal if we are to have a sustained period of strong labor market conditions that benefit all from the standpoint of our congressional mandate to promote maximum employment and price stability the current picture is plain to see the labor market is extremely tight and inflation is much too high against this backdrop today the fomc raised its policy interest rate by three quarters of a percentage point and anticipates that ongoing increases in the target range for the federal funds rate will be appropriate in addition we are continuing the

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