Powell added at a press conference on Wednesday after the rate cut, Central Bank price Interest The overnight benchmark was cut by 50 basis points, more than most analysts had expected. “Would we have cut if we had received the July report before the meeting? We probably would have,” he said. “We haven’t made that decision, but… we could have.”
He added Paul He said that the monetary policy decision announced by the Federal Reserve yesterday does not mean that it is late, but rather that it is a commitment not to be late.
The jobs report released by US Department of Labor For July, released days after the central bank’s July 30-31 meeting, the unemployment rate rose to 4.3 percent and job growth slowed.
Although the subsequent report for August showed a decline in the rate, Unemployment To 4.2 percent, it provided more evidence of a slowdown.
Powell said the labor market is strong, but Inflation On track to fall to Fed target Federal The two percent rate cut, he added, is an attempt to keep it that way.
