Powell flags cooling labor market as emerging risk as Fed moves closer to cuts
Investing.com -- Federal Reserve Chairman Jerome Powell on Tuesday didn't quell expectations for a September cut, but rather appeared to be laying the foundations for cut in the coming months after flagging the recent labor market cooling as an increasingly important cog in the Fed's rate-decision wheel.
But with the labor market showing signs of cooling -- the Fed has been forced to shift focus and acknowledge the risk is becoming two-sided as keeping policy too high for too long could leave a big dent in employment and the economy. While the Fed chief appears to laying the breadcrumbs for a September cut, incoming economic data still holds sway, Evercore ISI adds, ahead of Thursday’s inflation report that could"sustain and support the Fed’s evolving assessment."
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