Powell Signals More Fed Rate Cuts As Job Growth Slows
Federal Reserve Chair Jerome Powell stated that a sharp slowdown in hiring poses a growing risk to the U.S. economy, suggesting the central bank is likely to cut interest rates twice more this year.
Powell's remarks were prepared for the National Association of Business Economics meeting in Philadelphia, where he noted that lower rates could ease borrowing costs for mortgages, car loans, and business financing, providing relief amid signs of cooling in the labor market.
Despite the ongoing federal government shutdown, which has halted the release of key economic data, the Fed's outlook for employment and inflation remains largely unchanged since its September meeting.
Lower rates could ease borrowing costs for mortgages, car loans and business financing, providing relief amid signs of cooling in the labor market.
Author's summary: Powell hints at more rate cuts due to slowing job growth.
More News
- Clough-Ballacolla too strong for Camross to secure a fifth Bob O’Keefe Cup in six years
- Trump posts AI video of himself in a jet dumping brown liquid on 'No Kings' protests
- Trump posts AI video of himself in a jet dumping brown liquid on 'No Kings' protests
- Ashton Jeanty Has Made Franchise History
- Westmeath SHC Final: Exciting encounter ends in a draw