Fed on course for September rate cut as risks to job market grow
1/8/2024 6:23
Federal Reserve Chair Jerome Powell signaled central bank officials are on course to cut interest rates in September unless inflation progress stalls, citing risks of further labor-market weakening.
Powell said policymakers are moving closer to lowering borrowing costs from a more than two-decade high, highlighting a growing confidence at the Fed to dial back its restraints on the economy. He was careful, however, not to wed officials to a rate reduction should price data prove disappointing in the coming months.
Source: Bloomberg
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