"Powell’s Message: Stay Steady, Stay Watchful"🌏
Jerome Powell struck a cautious tone, acknowledging that the U.S. economy seems to be stabilizing after months of uncertainty. However, he warned that the labor market is losing momentum.
He mentioned that hiring has slowed down, layoffs are increasing in some sectors, and job openings have declined. This points to the once-hot job market cooling off. Despite these challenges, Powell believes growth is still strong, backed by consumer spending and better financial conditions after the Fed’s recent rate cut.
👉In summary, the Fed sees early signs of recovery, but Powell is closely monitoring the weakening job market. He suggested that future policy will depend on whether employment stabilizes or continues to decline.
