Fed Chairman Powell said at a post-meeting press conference that the federal funds interest rate has been cut by one percentage point from its peak, and the monetary policy stance has been 'significantly less restrictive'. Therefore, when considering further adjustments to the policy interest rate, the Fed 'can be more cautious'. Due to high inflation risks and uncertainties, the Federal Open Market Committee expects it is 'appropriate' to slow down the pace of further adjustment to the policy interest rate next year, 'in line with more robust inflation expectations'.