Powell hints support for further rate cuts as U.S. job market cools
2025-10-14 17:09:22
Federal Reserve Chairperson Jerome Powell warned on Tuesday that the U.S. labor market is showing further signs of distress, suggesting he may be ready to support another rate cut later this month. "Downside risks to employment have risen," Powell noted, in the strongest indication yet that Fed officials believe they have enough evidence to support another 25 basis point cut in U.S. borrowing costs. Powell added that even without new Bureau of Labor Statistics data (delayed by the government shutdown), privately produced labor market indicators, as well as internal Fed research, provide enough reason to suggest the labor market is cooling. " The available evidence "suggests" layoffs and hiring remain low ", while" household perceptions of job opportunities and corporate perceptions of hiring difficulties continue to trend downward ". These remarks suggest that Powell has become more dovish on monetary policy.
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