Reported about 2 months ago
During the Kansas City Fed's Jackson Hole symposium, Federal Reserve Chair Jerome Powell discussed the noticeable cooling of the labor market, stating that the unemployment rate, while increased, remains low historically. Economist Andrew Levin highlighted the causes of this trend, including inflation and an influx of job seekers. Levin notes that while future rate cuts could occur, the Fed is not in an 'emergency mode' and suggests a gradual pivot instead, predicting a quarter-point cut in future meetings.
Source: YAHOO