The September employment report alleviated concerns about a cracking job market, showing strong hiring, a dip in unemployment, and robust wage growth amid high interest rates.
October's meeting could see measured rate cuts as Jerome H. Powell emphasized that economic performance might not necessitate aggressive reductions in borrowing costs.
Despite recent cooling in the labor market, the Fed's projections suggest a stable job market, with unemployment expected to level off at 4.4 percent, averting drastic relief measures.
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