US Federal Reserve Chair Jerome Powell has delivered remarks at an annual economic symposium in Jackson Hole, Wyoming. He hinted that policymakers might cut interest rates, citing growing risks to the labor market.



Powell said on Friday that downside risks to employment are rising. He pointed to the possibility of sharply higher layoffs and falling employment.



He said: "The stability of the unemployment rate and other labor market measures allows us to proceed carefully as we consider changes to our policy stance. Nonetheless, with policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance."



He touched on data about the labor market that was released earlier this month. It showed a slowdown in payroll jobs, and previously released figures for May and June were revised down substantially.



Policymakers believe that the effects of tariffs on consumer prices are now clearly visible. Powell said, "In the near term, risks to inflation are tilted to the upside, and risks to employment to the downside ... a challenging situation."



He added that monetary policy is not on a preset course and that the Fed will make decisions based solely on its assessment of the data and its implications.
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Quiz 1:
Who delivered remarks at an annual economic symposium in Jackson Hole, Wyoming recently?
A. Janet Yellen
B. Ben Bernanke
C. Jerome Powell
D. Alan Greenspan

Answers: Quiz 1: C

Quiz 2:
According to the article, which of the following is NOT a risk Powell mentioned about the labor market?
A. Rising downside risks to employment
B. Sharp layoffs
C. Stable unemployment rate
D. Increased consumer prices

Answers: Quiz 2: C

Quiz 3:
What is the current stance of monetary policy, according to Powell?
A. Expansionary
B. Neutral
C. Restrictive
D. Contractive

Answers: Quiz 3: C