Powell says December rate cut is not guaranteed
EPA/JIM LO SCALZO
The Federal Reserve is closely monitoring changes in the employment landscape "very, very carefully" following a wave of recent layoffs at major U.S. companies, Chair Jerome Powell said Wednesday during a news conference in Washington, News.Az reports citing foreign media.
“You see a significant number of companies either announcing that they are not going to be doing much hiring or actually doing layoffs, and much of the time they’re talking about AI and what it can do,” Powell said. “We’re watching that very carefully.”
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