So as I've said before, every meeting is a live meeting where the committee can make a decision to move to change our target for the Federal funds rate. That certainly includes October. As you know and I've stressed previously, were we to decide to do that, we would call a press briefing and you've participated in an exercise to make sure that you would know how to participate in that press briefing, should it happen.
So yes, October remains a possibility.
And we will be looking at incoming developments, both financial and economic to try to make sure we feel really that the U.S. economy is doing well.
You know, I want to emphasize, domestic developments have been strong. We see domestic demand growing at a solid pace. The labor market continuing to improve. Of course, we will watch incoming data to confirm our expectation that that will continue. And we of course will watch global financial and economic developments.
I can't give you a recipe for exactly what we're looking to see. But as we say, we want to see continued improvement in the labor market and we would like to bolster our confidence that inflation will move back to 2%. And of course a further improvement in the labor market does serve that purpose. There could be other things we would see that could bolster that confidence. But further improvement in the labor market will serve to do that.
