Editor's PiCK
Fed Chair Powell "Will maintain rate-cut stance if labor-market contraction persists"
JH Kim
Summary
- Jerome Powell, Fed Chair, said he would maintain the current rate-cut stance if the labor market contraction persists.
- Powell mentioned that inflation has eased recently while signals of labor market weakening are strengthening.
- The Fed said it is closely monitoring economic conditions and could consider additional easing measures if necessary.
On the 14th (local time), according to economic news channel Walter Bloomberg (Walter Bloomberg), Jerome Powell, Chair of the U.S. Federal Reserve (Fed), said in a speech at the National Association for Business Economics (NABE) held in Philadelphia, "If the contraction in the labor market continues, we will maintain the current rate-cut stance."
Powell said, "Although inflation has recently eased, signs of a slowdown in the labor market are strengthening," and added, "The Fed is closely monitoring economic conditions and may consider additional easing measures if necessary."
JH Kim
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