US jobs concern: Powell sees rising unemployment risks; Fed may cut rates twice more this year
Federal Reserve Chair Jerome Powell indicated potential further interest rate cuts this year due to a slowing US job market, suggesting two more reductions are possible. He acknowledged concerns about employment risks outweighing inflation, and hinted at an end to the Fed's balance sheet reduction. Powell also defended past pandemic-era asset purchases, admitting they could have concluded sooner.
Federal Reserve Chair Jerome Powell indicated potential further interest rate cuts this year due to a slowing US job market, suggesting two more reductions are possible. He acknowledged concerns about employment risks outweighing inflation, and hinted at an end to the Fed's balance sheet reduction. Powell also defended past pandemic-era asset purchases, admitting they could have concluded sooner.
