PANews September 19 news, Federal Reserve Chairman Powell said at a press conference that there is no sign in the forecast that the Fed is rushing. If appropriate, the Fed can speed up or slow down, or even pause rate cuts. If the economy remains solid, we can slow down the pace of rate cuts. Similarly, if the labor market deteriorates, we can respond. Our forecasts are not plans or decisions, and we will adjust policies as needed. Taking all the risks into consideration, we cut interest rates by 50 basis points today. This adjustment will help maintain the strength of the economy and the labor market. Powell also said that if the Fed sees the non-farm payrolls report released a few days after the July resolution in advance, it may cut interest rates for the first time at the July interest rate meeting. The July non-farm payrolls report in the United States showed a weak labor market in the United States. Powell pointed out that the Federal Reserve remains firmly focused on its dual mission goals. The U.S. economy is generally strong, and the labor market has cooled down from its previous overheated state. Our decision today reflects increasing confidence that the strength of the labor market can continue, and the Federal Reserve is committed to maintaining a strong economy. The unemployment rate has risen, but it is still low. The labor market environment continues to cool, the labor market is not the source of high inflationary pressure, and the downside risks of employment have increased.
