Powell: The job market is no longer very strong
Jinse Finance reported that after the Federal Reserve cut interest rates by 25 basis points, Federal Reserve Chairman Powell pointed out at a press conference that the labor market is showing increasing signs of weakness. He said: "Labor demand has slowed, and the recent pace of job creation appears to be below the breakeven point needed to keep the unemployment rate stable." He added: "I can no longer say that the labor market is very strong." Looking ahead to the prospects for interest rate adjustments, Powell expressed caution, stating that the Federal Reserve is now in a situation of "making decisions meeting by meeting."
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After Walsh's hawkish remarks, Trump said: "Raising interest rates is absurd. Walsh will do what he must do."
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