🇺🇸Fed Chair Jerome Powell:•The US economy is built on solid fundamentals.•Current policy encourages progress toward two objectives.•The US economy grew steadily last year.•The interest rate cuts made last year supported the Fed's goals and made the policy stance 'appropriate'.•The effects of the government shutdown are expected to reverse this quarter.•The shutdown likely negatively impacted Q4 growth, but this will turn around.•Inflation remains slightly above the target level.•Policy is not on a predetermined path.…