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told reporters at a press ▓conferen

l▓ow the Fed's 2 percent obj▓ective, the Fed chai▓rman said, noting that total personal consumption expenditures ▓(PCE) inflation was 1.4 percent and core inflation was 1.8▓ percent.The U.S. econom▓y expanded at an annual rate of 1.9 percent in the third quarter of the year, sli▓ghtly lower than the 2-▓

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percent growth rate in▓ the second quarter, the Commerce Department report▓ed earlier on Wednesday. This marks a further deceleration from the fir

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st quarter's 3.1 percent growth rat▓e.Personal consumption exp▓enditures, which account for more than two thirds of the overall eco▓nomy, grew at an a▓n

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nual rate of 2.9 percent in ▓the third quarter, lower than the 4.6▓ percent growth pace in the second quarter. Nonresidential fixed investment▓, meanwh

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ile, fell at an annual rate of 3 percent in th▓e third quarter, ▓following a contraction of 1 percent in the previo▓us quarter.Two members of the 10-person

ce Wednes▓day

afternoon, highlighting the risks of

comm▓ittee voted against the dec▓ision to cut rates. Federal Reserve Bank of Boston Preside▓nt Eric Rosengren, and Kansas City Fed Pr▓esident Esther George "preferred" to maintain the▓ targe

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