Foruseat11:00a.m.ESTMarch1,2024MonetaryPolicyReportMarch1,2024BoardofGovernorsoftheFederalReserveSystemLetterofTransmittalBoardofGovernorsoftheFederalReserveSystemWashington,D.C.,March1,2024ThePresidentoftheSenateTheSpeakeroftheHouseofRepresentativesTheBoardofGovernorsispleasedtosubmititsMonetaryPolicyReportpursuanttosection2BoftheFederalReserveAct.Sincerely,JeromeH.Powell,ChairStatementonLonger-RunGoalsandMonetaryPolicyStrategyAdoptedeffectiveJanuary24,2012;asreaffirmedeffectiveJanuary30,2024TheFederalOpenMarketCommittee(FOMC)isfirmlycommittedtofulfillingitsstatutorymandatefromtheCongressofpromotingmaximumemployment,stableprices,andmoderatelong-terminter...