Fed Chair Jerome Powell said that the 50 basis point cut is an"appropriate recalibration of the policy stance" to maintain maximum employment and reflects the"greater confidence" that disinflation is on a sustained path to achieve the Fed's 2 percent inflation objective. He said the committee had an"excellent discussion" and there was broad support for the decision. Governor Michelle Bowman registered a dissent in the vote.

Powell was emphatic that the cut was timely and should be a sign that the FOMC is determined to not get behind. Since the June meeting, the FOMC has received two more employment reports, two more inflation reports, and a variety of other data. He said that the labor market is"less tight than just before the pandemic" and not a source of inflationary pressure."Clearly labor market conditions have cooled off by any measure," in an economy that is growing."The time to support the labor market is when it is strong," he said.

Powell cautioned again that the changes to the FOMC's summary of economic projections (SEP) is a forecast and is uncertain. He reiterated that the FOMC will make its decisions meeting-by-meeting and on the totality of the data. He said current monetary policy is well-positioned to respond to changes in economic conditions. He added that the FOMC would move as fast or as slow as appropriate to maintain both sides of the dual mandate.

The Fed announced in 2011 that then Fed Chair Ben Bernanke would hold press briefings four times a year to explain the FOMC's latest quarterly economic projections. The purpose of the briefings is to provide additional context for the FOMC's policy decisions and to allow for questions-and-answers with the press. According to the Fed, the"introduction of regular press briefings is intended to further enhance the clarity and timeliness of the Federal Reserve's monetary policy communication." The press briefing is held at 2:30 p.m. ET on the days of FOMC statements in which quarterly projections are released. Beginning in 2019, the briefing will be held after each FOMC meeting. The policy statement is released at 2:00 p.m. ET after the conclusion of every FOMC meeting regardless of whether there are forecasts or not.

The Fed’s meeting statement and economic projections can move financial markets. However, the Fed’s meeting statement — which indicates any changes in monetary policy—typically is very concise and lacking in detail. However, the Fed now releases its economic forecasts four times a year. As of March 20, 2013, the forecasts are released at the same time as the FOMC statement during the months of March, June, September, and December. After each of the 8 Fed meetings, the chair holds a press conference to explain the forecasts and other policy issues. The chair’s press conference allows for the financial markets and public in general to learn more about why and how the monetary policy decision was made and to learn more about FOMC views on the direction of the economy—including real growth, inflation, unemployment, expected timing of changes in the fed funds rate, and expected levels of the fed funds rate in the near term.