The Federal Reserve slashed its benchmark interest rate target by half a percentage point on Wednesday. In a press conference following the decision, Fed Chairman Jerome Powell argued the central bank was not behind the curve, as some had argued. Rather, he says, this cut was "a sign of our commitment not to get behind."

In the video above, Yahoo Finance Federal Reserve Reporter Jennifer Schonberger recaps what else Powell told reporters.

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This post was written by Stephanie Mikulich.