Reported 3 months ago
Federal Reserve Chair Jerome Powell indicated that the central bank is likely to cut interest rates in September due to worries about a weakening labor market, unless inflation progress stalls. While inflation has declined significantly, Powell expressed the need for a careful balance between lowering rates to stimulate the economy and avoiding a resurgence of inflation. The job market remains solid with a current unemployment rate of 4.1%, and the Fed aims to maintain both inflation control and job market stability.
Source: YAHOO