( ) -q-29- UNDATED (Correspondent Jeremy House) “employers keep hiring.” Chair Jerome Powell will likely provide some hints about how the Fed sees the economy and what its next steps may be in a high-profile speech Friday in Jackson Hole, Wyoming. [CutID: <Cuts> POWELL-IN-RATES-house-q-WEDam.mp3 Time: 29s Title: POWELL-IN-RATES-house-q-WEDam Out-cue: employers keep hiring] TAG: Correspondent Jeremy […]
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Powell may use Friday speech to hint at expected Fed cut rates
( ) -q-29- UNDATED (Correspondent Jeremy House) “employers keep hiring.”
Chair Jerome Powell will likely provide some hints about how the Fed sees the economy and what its next steps may be in a high-profile speech Friday in Jackson Hole, Wyoming.
[CutID: <Cuts> POWELL-IN-RATES-house-q-WEDam.mp3
Time: 29s
Title: POWELL-IN-RATES-house-q-WEDam
Out-cue: employers keep hiring]
TAG: Correspondent Jeremy House reporting.
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VERBATIM: Federal Reserve officials have said they’re increasingly confident that they’ve nearly tamed inflation. Now, it’s the health of the job market that’s starting to draw their concern. With inflation cooling toward its 2% target, the pace of hiring slowing and the unemployment rate edging up, the Fed is poised to cut its benchmark interest rate next month from its 23-year high. How fast it may cut rates after that, though, will be determined mainly by whether employers keep hiring.