Federal Reserve Chair Jerome Powell highlights a key tension within the Federal Open Market Committee (FOMC) regarding inflation and the labor market. Powell notes, "everyone around the table at the FOMC agrees that inflation is too high and that we want it to come down," while acknowledging that the labor market has softened, posing further risks. The challenge lies in balancing these issues, with differing opinions on risk weighting and forecasts. Despite these differences, Powell praises the