US

Jobs Slowdown Triggered Fed Rate Cut, Jerome Powell Says

Employment conditions are ‘less dynamic’ and ’somewhat softer,' the U.S. central bank chief explained.
Jobs Slowdown Triggered Fed Rate Cut, Jerome Powell Says
Federal Reserve Chairman Jerome Powell testifies before the House Committee on Financial Services on Capitol Hill in Washington on June 24, 2025. Madalina Kilroy/The Epoch Times
Andrew Moran
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The U.S. central bank cut interest rates this past week in response to weakening labor market conditions, Federal Reserve Chair Jerome Powell confirmed.

Following the Sept. 16-17 meeting, the Federal Open Market Committee (FOMC) lowered the benchmark policy rate by a quarter point to a new target range of 4.00 percent to 4.25 percent—the first reduction of the year.
Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."