The outlook for the u. S. Economy remains terrible, and this action is designed to support the outlook. From weak Global Growth and to promote a faster return of inflation to our symmetric 2 objective. Objectives will support achievement of our overall goal, to sustain for the benefit of the american people. Conclude theed to runoff of our securities portfolio rather than and september as previously planned. I will discuss the thinking behind todays Interest Rate reduction and then turn to the path forward. As the year began, both the economy and Monetary Policy were in a good place. Below 4 ,oyment rate inflation had been running there are 2 objective for nine months. Our interestrate target was at the low end of estimates for neutral. Over the first half of the year, the economy grew at a healthy pace and job gains pushed unemployment to near a halfcentury low. We just have been rising for lower paying jobs. People who live and work and lower income communities telling us that many w