“Fed Chair Powell Cautious on Rate Cuts Amid Inflation Concerns”

Certainly! Federal Reserve Chair Jerome Powell recently reiterated that the central bank won’t cut interest rates until they have “gained greater confidence that inflation is moving sustainably toward” their 2% goal1.

Despite last week’s disappointing jobs report, Powell emphasized that the labor market remains strong, even though the unemployment rate edged up to 4.1% in June.

He acknowledged that recent inflation readings have shown some modest progress, but the data did not fully support greater confidence in achieving the 2% target.

Essentially, the Fed is cautious about adjusting rates too soon, as it could stall progress on inflation, but waiting too long could weaken economic activity and employment.

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