#PowellRemarks Jerome Powell, Chair of the Federal Reserve, recently delivered a speech highlighting the decision to cut interest rates by 25 basis points to a range of 4.25%-4.5%. Here are some key points from his speech ¹:

- *Signals of Weakening Labor Market*: Powell mentioned that lower hiring rates are a signal of weakening in the labor market.

- *Healthy Wages*: He also stated that wages are at a healthy and sustainable level.

- *Inflation*: Powell emphasized the importance of bringing inflation back to target and keeping it there, so that wage growth outpaces inflation.

- *Cautious Steps*: He stated that it is appropriate to proceed cautiously in monetary policy decision-making.

Powell's speech affected the markets, including a sharp decline in gold prices following his comments about the target for interest rate cuts by the end of the year. In addition, the market is also anticipating Powell's comments regarding the Fed's decision to hold interest rates ² ³.