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Powell acknowledges labor market slowdown but rejects fears of steep decline

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9 hours ago

Federal Reserve Chair Jerome Powell outlined how the central bank is viewing the labor market after it cut interest rates last week for the third straight time, with a fresh jobs report due out on Tuesday.Powell spoke at a press conference after Federal Reserve policymakers voted to lower the benchmark federal funds rate by 25 basis points to a range of 3.5% to 3.75%, amid signs of a weakening labor market and emerging risks to the half of the Fed's dual mandate that focuses on promoting maximum employment.Powell noted that the most recent jobs report from the Bureau of Labor Statistics (BLS)...

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9 hours ago
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