On December 18, Federal Reserve Chairman Powell said at a press conference, "Including today's actions, we have lowered the policy interest rate by a full percentage point from its peak level, and the restrictive stance of monetary policy has been significantly weakened. In light of this, we can be more cautious in considering further interest rate adjustments in the future." However, Powell added that interest rates are still "significantly" suppressing economic activity, and the Federal Reserve is on a path of "continuing to cut rates." He stated that before further rate cuts, officials must see more progress in anti-inflation efforts.