21:03 【Fed Chair Williams: Inflation is still too high but may have peaked; the labor market remains steady】Fed Chair Williams said that inflation remains stubbornly high, and the Fed must ensure inflation continues to fall to the 2.0% target level, adding that the current monetary policy stance is appropriate. However, he believes there are encouraging signs that inflation may have already peaked, and he expects inflation to gradually ease over the coming quarters: to 3.25% by the end of this year, then moving closer to the 2.0% target, and ultimately achieving that target in 2028. Williams expects real GDP growth to remain between 2.0% and 2.25% this year and over the next two years. He expects the unemployment rate to edge down to around 4.0%, and noted that the labor market has shown resilience and stability. (Source: Futu NiuNiu)