Fed Nears Rate Cut, Job Market Concerns

This is a Jackson Hole news story, published by VOA, that relates primarily to Powell news.

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point Fed rate cut

VOA

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Powell may use Jackson Hole speech to hint at how fast and how far the Fed could cut rates

Summary

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77% Informative

The Fed is poised to cut its benchmark interest rate from its 23-year high.

A lower rate would eventually lead to lower rates for auto loans, mortgages and other forms of consumer borrowing.

How fast the Fed cuts rates will depend on what the economic data shows.

A half -point rate cut in September would become more likely if there were signs of a further slowdown in hiring.

With the economy's outlook unclear and the Fed focusing heavily on what future data shows, there may be only so much Powell will be able to say Friday about the central bank's next steps. Given the Fed 's focus on how the economic data comes in, “it will be difficult for Powell to pre-commit to a particular trajectory at Jackson Hole ,” Matthew Luzzetti , chief U.S. economist at Deutsche Bank , said in a research note..

VR Score

Informative language

Neutral language

Article tone

semi-formal

Language

English

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Offensive language

not offensive

Hate speech

not hateful