Powell Cites Challenging Economic Outlook Amid Rate Cut Debate
TL;DR Summary
Federal Reserve Chair Jerome Powell indicated that recent rate cuts were driven by a weakening labor market, which is outweighing inflation concerns, leading to a challenging balancing act for the Fed amid signs of stagflation and economic uncertainty.
- Powell says slowing labor market prompted rate cut, sees 'challenging situation' ahead CNBC
- Fed can’t ignore the risk of higher inflation, Powell says CNN
- Live: Fed's Powell Speaks on the Economy Bloomberg
- Powell Stresses ‘Challenging Situation’ for Fed as Rate Debate Intensifies The New York Times
- Fed chair powell: downside risks to employment shifted balance of risks, prompting last week's rate cut Reuters
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