how explained that inflation has declined significantly and his confidence has grown that inflation is headed on that path to 2% that's the fed's target always they want to keep that at 2% he also said that the upside risks to inflation have diminished while the downside risk to unemployment have increased so clearly the FED is more concerned with the labor market versus inflation now on the labor market pal said that the conditions are less tight than pre- pandemic when inflation was below 2% meaning that the labor market would not be a source of inflation