Federal Reserve Chair Jerome Powell on Friday used his Jackson Hole speech to acknowledge rising risks to U.S. employment, signaling the central bank may be preparing to shift its policy stance.
What Happened: His remarks marked the clearest indication yet that future rate cuts are possible if labor market weakness deepens.
Powell told central bankers on Friday that “downside risks to employment are rising,” noting job growth has slowed to just 35,000 per month over the past three months, a sharp deceleration from 2024.
The unemployment rate edged up to 4.2% in July, while labor force participation has fallen, leaving the labor market vulnerable to shocks.
Economic growth has also cooled, with GDP expanding at just 1.2% annualized in the first half of 2025, compared to 2.5% last year.
The Fed chair emphasized that “monetary policy is not on a preset course” and said restrictive conditions could …Full story available on Benzinga.com
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