Banco de México decided to lower the target rate by 25 basis points to 10.25%

Good afternoon. Thank you to the World Affairs Council, the Federal Reserve Bank of Dallas, and the Dallas Regional Chamber for the kind invitation to be with you today. I will start with some brief comments on the economy and monetary policy. Looking back, the U.S. economy has weathered a global pandemic and its aftermath and is now back to a good place. The economy has made significant progress toward our dual-mandate goals of maximum employment and stable prices. The labor market remains in solid condition. Inflation has eased substantially from its peak, and we believe it is on a sustainable path to our 2 percent goal. We are committed to maintaining our economy's strength by returning inflation to our goal while supporting maximum employment. post: Fed’s Powell: Economy Not Signalling Need To Hurry Rate Cuts - Can Approach Decisions Carefully Amid Strong US Economy - Inflation Is Heading To 2% Target On ‘Sometimes Bumpy Path’ https://t.co/iH5itaCCCl post: FED'S POWELL: MOVING POLICY OVER TIME TOWARD NEUTRAL, POLICY PATH IS NOT PRESET. post: FED'S POWELL: THE LABOR MARKET IS SOLID, INFLATION IS ON A SUSTAINABLE PATH TO 2%. post: FED'S POWELL: RECENT U.S. ECONOMIC PERFORMANCE REMARKABLY GOOD POWELL: LABOR MARKET HAS COOLED TO A POINT WHERE IT IS NO LONGER A SOURCE OF SIGNIFICANT INFLATIONARY PRESSURES POWELL: FED IS CLOSELY TRACKING GRADUAL DECLINE IN HOUSING SERVICES INFLATION, WHICH HAS YET TO FULLY…