Federal Reserve Chairman Jerome Powell explains the decision to leave the policy rate, federal funds rate, unchanged at the range of 5.25%-5.5% and responds to questions in the post-meeting press conference.

Key takeaways

"Total scope of data suggest normalizing labor market."

"Job vacancies are still high by historical standards."

"Can't look to history as a guide to future."

"The picture is not one of a really bad economy, just spots of weakness."

"We don't change our approach according to political calendar."

"We never use our tools to support or oppose a politician or party."

"If we stick to our part, it benefits all Americans."

"That's what we believe and is how we always operate."

"Anything we do before, during or after election will be based on data, outlook and risks."