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The Federal Reserve's Williams talks about a cooling labor market, cautiously treating expectations for a September rate cut

"The labour market conditions that I have observed over the past year can be described as a'moderate and gradual cooling ', but the overall situation remains solid," said Mr. Williams, a Fed official and Powell ally. While the unemployment rate rose only modestly to 4.2 per cent in July, compared with 4.1 per cent in June, the relatively weak rate has not changed.

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2025-08-02 02:29:55
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