Highlights from Jerome Powell's Jackson Hole Symposium

"We intend to keep interest rates at restrictive levels until inflation is confidently reduced to 2% on a sustained basis."
"The Fed will proceed cautiously in deciding whether to raise rates again or hold steady."
"Economic uncertainty calls for flexible monetary policymaking."
"The Fed will decide on the next move in interest rates based on the data."
"The Fed is watching for signs that the economy is not cooling as expected."
"Inflation remains too high, and even with more favorable recent data, the process of reducing inflation still has a long way to go."
"Two months of good data is just the start we need to build confidence in inflation."
"There is still a lot of work to do to restore price stability."
"Continued progress on commodity inflation is needed."
"The slowdown in rents suggests a slowdown in housing inflation and will continue to be watched."
"Further progress is needed on non-housing services inflation."
"Policy is restrictive, but the Fed cannot determine what the neutral rate level is."
"The Fed will not change the 2% inflation target.
"The Fed is mindful that monetary policy faces risks on both sides."
"Above-trend growth may require further rate hikes by the Fed."
"Slow-trend growth may be needed to get inflation back to 2 percent."
"Lowering inflation may also require a weak labor market."
"Signs that the labor market is not cooling may also prompt more action from the Fed."
"There is evidence that inflation has become more responsive to the labor market."
"PCE expected at 3.3% in July, core at 4.3%."