Federal Reserve Chair Jerome Powell said Friday that the weak job market may soon force the Fed to cut interest rates. He noted that lower rates could help the labour market, after the Fed kept them unchanged for the past eight months.In a key Friday speech, Powell warned that risks of higher inflation and a weakening jobs market created a “challenging situation.” “Downside risks to employment are rising,” according to Powell’s prepared remarks at the Jackson Hole Economic Policy Symposium. He added that “the effects of tariffs on consumer prices are now clearly visible,” with high uncertainty in the coming months. “Downside risks to employment are rising,” Powell said, according to a copy of his prepared remarks at the Jackson Hole Economic Policy Symposium.► Subscribe to The Economic Times for the latest video updates. It’s free! – https://www.youtube.com/TheEconomicTimes?sub_confirmation=1
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