Fed Chair Powell Signals Cautious Approach to Interest Rate Cuts Amid Economic Stability

According to the Wall Street Journal, Federal Reserve Chair Jerome Powell stated that the Fed will continue to gradually reduce interest rates. Powell noted that while inflation has decreased considerably, the job market is showing signs of softening. The unemployment rate is currently at 4.2%, up from 3.7% in January 2024. The next Fed FOMC meeting is scheduled for November 6-7, where economic data will be further reviewed.

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