Powell signals possible interest rate cuts

Federal Reserve chair Jerome Powell gave the strongest signal yet that the central bank is preparing to start cutting interest rates to preserve a wobbly labor market during a high-profile speech despite concerns about inflation and unknowns about the effects tariffs will have on the economy.

Powell used much of his speech to highlight the downside risks to the labor market that could offset some of the inflation concerns from tariffs. While he did not explicitly endorse a cut at next month’s meeting, his emphasis on the employment situation is a signal a cut is likely.

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