Federal Reserve officials propose interest rate cuts to address cooling labor market and inflation.
Federal Reserve officials, including Governor Christopher Waller and New York President John Williams, advocate for interest rate cuts due to a cooling labor market and easing inflation. Waller supports cuts at the upcoming September meeting, while Williams emphasizes the need to adjust policy to maintain economic balance. The August jobs report shows slight hiring increases and a drop in unemployment, reinforcing the Fed's potential shift in focus from inflation control to supporting employment.
September 06, 2024
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