Reported about 1 year ago
The article discusses the Federal Reserve's concern as the unemployment rate unexpectedly rose to 4.1% in June, nearing the 0.5% threshold of the Sahm Rule, a recession indicator based on job losses. Despite the recent job market weakness, Fed Chair Jerome Powell aims to gather more evidence on inflation before considering a rate cut in September. The article highlights the potential economic impact if the unemployment rate crosses the Sahm Rule threshold, with implications for a possible recession.
Source: YAHOO