Jerome Powell, Chairman of US Federal Reserve
Federal Reserve Chair Jerome Powell, speaking at a press conference on Sept. 17 following the monetary policy meeting, stated that labor demand has declined, inflation has risen, and consumer spending has slowed, all while the economic impact of tariffs remains uncertain. 
Powell’s remarks came after the majority of the FOMC voted to cut interest rates by 25 basis points, describing the move as a precautionary step to manage risks, with the committee expecting two additional rate cuts this year totaling 50 basis points.
Powell’s statement highlighted that labor demand has weakened, and the unemployment rate has risen, however, unemployment remains close to last year’s levels.
The labor market slowdown reflects a decline in immigration and labor force participation, he added.
Employment risks have increased, while inflation is also rising. Economic activity has slowed, negatively impacting GDP growth, the Fed chair said.
Jerome Powell, Chairman of US Federal Reserve
Federal Reserve Chair Jerome Powell, speaking at a press conference on Sept. 17 following the monetary policy meeting, stated that labor demand has declined, inflation has risen, and consumer spending has slowed, all while the economic impact of tariffs remains uncertain.
Powell’s remarks came after the majority of the FOMC voted to cut interest rates by 25 basis points, describing the move as a precautionary step to manage risks, with the committee expecting two additional rate cuts this year totaling 50 basis points.
Powell’s statement highlighted that labor demand has weakened, and the unemployment rate has risen, however, unemployment remains close to last year’s levels.
The labor market slowdown reflects a decline in immigration and labor force participation, he added.
Employment risks have increased, while inflation is also rising. Economic activity has slowed, negatively impacting GDP growth, the Fed chair said.
