Express
Powell Lists Factors Supporting No Rate Cut
Summary: According to Jinshi's report, Federal Reserve Chairman Powell stated that although the Fed 'can see that the labor market may be slowing down slowly and continuously,' considering the strong labor force participation rate and good wage growth, this cooling down is not a cause for concern. He said, 'Although the uncertainty about the economic outlook ...
According to Jinshi's report, Federal Reserve Chairman Powell stated that although the Fed 'can see that the labor market may be slowing down slowly and continuously,' considering the strong labor force participation rate and good wage growth, this cooling down is not a cause for concern. He said, 'Although the uncertainty about the economic outlook has decreased, it is still at a high level.' As long as he sees the current labor market conditions, along with reasonable economic growth and gradually declining inflation, Powell said he is willing to wait for more information before deciding on the next steps.
