Analysis: Powell responds to jobs risks, paving the way for September rate cut
2025-08-22 15:14:44
Jay Hatfield, chief executive of Infrastructure Capital Management in New York, said Powell was clearly more dovish than the market expected, and he responded to the weakening labor market by acknowledging the risks. So that sets the stage for a rate cut in September, which is positive. We have long expected a rate cut, so we are neutral on the market at the moment. Normally we would be bearish in the fall, but now we are only neutral, which is quite optimistic at this time of year. We are relieved that Powell is not completely overwhelmed.
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