Fed's Powell says August jobs report is a sign of strength in U.S. labor market
Federal Reserve Chairman Jerome Powell said Friday afternoon that the most recent monthly gauge of the U.S. labor market fit into an overall picture of a healthy jobs market and economy.
Wall Street is pricing in a greater than 90% chance that the rate-setting Federal Open Market Committee will trim its benchmark interest rate by a quarter-percentage point following its Sept. 17-18 meeting, according to CME Group data based on federal-funds futures. Powell said he hasn’t regretted becoming the leader of U.S. central bank, responding to a question that appeared to be a loosely veiled reference to constant attacks the Fed chairman has endured from President Donald Trump who nominated him.
I agree with @jimcramer, the Fed should lower rates. They were WAY too early to raise, and Way too late to cut - and big dose quantitative tightening didn’t exactly help either. Where did I find this guy Jerome? Oh well, you can’t win them all!
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