Reported 17 days ago
Federal Reserve Chair Jerome Powell warned of a significant decline in US hiring that poses risks to the economy, suggesting the Fed may cut interest rates twice more this year. In a recent speech, Powell noted that while the government shutdown has limited data access, economic conditions have not notably changed since the Fed's previous rate cut in September. He emphasized increased concerns about the job market and hinted at a potential halt to the reduction of the Fed's balance sheet, which could further impact borrowing costs. The central bank's strategy has faced criticism, particularly regarding asset purchases made during the pandemic.
Source: YAHOO