In his prepared text for the speech in Rhode Island, Powell said:
Fed Chair: downside risks to employment shifted balance of risks, prompting last week's rate cut
Rate cut was another step toward a more neutral policy stance
Two-sided risks mean there is no risk-free path; policy not on preset course
Policy stance still modestly restrictive, well-positioned to respond to potential developments
Economic growth has moderated, downside risks to employment have risen
Inflation has risen, remains somewhat elevated
Consumer spending has slowed, businesses say uncertainty weighs on outlook
Labor market less dynamic, somewhat softer
Unusual and challenging decline in both supply and demand for workers
12-month PCE inflation was probably 2.7% in August, core PCE 2.3%, both up from prior year and driven by goods prices
Goods price increases largely reflect tariffs, not broader price pressures
Reasonable base case is that tariff-driven inflation effects will be relatively short-lived
Disinflation for services continues; most long-term inflation expectations consistent with 2% goal
Tariff increases will likely show up as somewhat higher inflation over several quarters
Will make sure one-time increase in prices does not become ongoing inflation problem
Public trust in economic, political institutions has been challenged, those in public service must focus tightly on critical missions
This article was written by Greg Michalowski at investinglive.com.Hence then, the article about powell downside risks to employment shifted balance of risks prompting rate cut was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( Powell: Downside risks to employment shifted balance of risks, prompting rate cut )
Also on site :
- A Nostalgic Childhood Fave Is Dropping a New Lineup of Functional Beverages
- Blazers’ Splitter on Dundon reports: ‘Trying to be a pro’
- Woman Finds Dog’s Toy on Beach—Then She Reads the Back, Says ‘I’m Not Okay’