Powell acknowledges the Fed's growing concerns about the job market
Karl Schamotta, chief market strategist at foreign exchange firm Corpay, said the key sentence in Powell's speech was that they would "do everything we can to support a strong labor market while making further progress on price stability."
In my opinion, this does show that Powell acknowledged the growing concerns among policymakers about the direction of the labor market. Powell did not put a 50 basis point rate cut in September on the table, which was also in line with market expectations to some extent.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ark Invest increased its holdings of BLSH by $1.0668 million yesterday
U.S. Treasury TGA sees significant decline for the first time, market liquidity expected to improve
Futu Q3 Financial Report: Virtual asset holdings increased by 90% quarter-on-quarter, trading volume up 161%