Fed's Barr (voter) says it is prudent for Fed to take time and look at data, before changing policy again; outlook suggests Fed will hold rates steady for some time

Inflation:

• Wants to see more evidence inflation ebbing to 2% target.
• Still sees ‘significant risk’ inflation will stay over 2%.
• Reasonable to think price pressures will further cool.

Labour Market:

• Job market in balance but vulnerable to shocks.
• Recent data points to stabilising job market.

AI:

• In long run AI should boost productivity and living standards.
• AI boom unlikely to lead to lower Fed interest rates.
• Should be prepared for AI to disrupt labour markets.
• Little evidence so far AI is driving up unemployment.