Reported 2 months ago
Recent data releases reveal increased jobless claims and a slowdown in manufacturing activity, signaling potential weaknesses in the economy as the Federal Reserve considers future interest rate cuts. Jobless claims rose to 249,000, the highest since August 2023, while the manufacturing PMI fell to 46.8, indicating further contraction. Fed Chair Jerome Powell acknowledged the shifting economic landscape, noting the urgency of monitoring both inflation and unemployment trends, as economists suggest that additional rate cuts may be necessary to support the slowing manufacturing sector.
Source: YAHOO