Posted 2/2/2024, 10:30:22 AM
Fed Hints at Possible Rate Cut as Jobs Market Cools
- Fed officials left interest rates unchanged this week and signaled next move may be a cut
- Jerome Powell said Fed not bent on slowing job market, happy to see hiring and wage growth if inflation falling
- Cooling job market could spur Fed to cut rates sooner
- Job gains continue at solid pace, if that persists Fed will focus more on inflation
- Powell suggested Fed willing to be patient on wage growth slowing to normal levels