1. US Federal Reserve Chair Jerome Powell suggests potential interest rate cuts due to growing risks to the labor market, hinting at possible layoffs and falling employment.
2. The latest labor market data showed a slowdown in payroll jobs, with earlier figures for May and June revised down significantly.
3. Powell states that the effects of tariffs on consumer prices are now evident, with risks to inflation being higher and risks to employment being lower, indicating a challenging economic situation. He also emphasizes that monetary policy is not on a predetermined course and will be based solely on data assessment.
2. The latest labor market data showed a slowdown in payroll jobs, with earlier figures for May and June revised down significantly.
3. Powell states that the effects of tariffs on consumer prices are now evident, with risks to inflation being higher and risks to employment being lower, indicating a challenging economic situation. He also emphasizes that monetary policy is not on a predetermined course and will be based solely on data assessment.
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summary of US Fed Chair Powell hints at possible interest rate cut
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summary of US Fed Chair Powell hints at possible interest rate cut
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Summary
US Federal Reserve Chair Jerome Powell hints at potential interest rate cuts due to growing labor market risks, such as possible layoffs and falling employment. The latest labor data shows a slowdown in payroll jobs, with significant revisions downwards for May and June figures. Powell notes the