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Powell acknowledges the Fed's growing concerns about the job market

Powell acknowledges the Fed's growing concerns about the job market

Bitget2024/08/23 16:07

Karl Schamotta, chief market strategist at foreign exchange firm Corpay, said the key sentence in Powell's speech was that they would "do everything we can to support a strong labor market while making further progress on price stability."

In my opinion, this does show that Powell acknowledged the growing concerns among policymakers about the direction of the labor market. Powell did not put a 50 basis point rate cut in September on the table, which was also in line with market expectations to some extent.

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