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Fed Implements First Rate Cut of Amid Softening Labor Market
Fed Implements First Rate Cut of Amid Softening Labor Market
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BTCCSquare news:
The Federal Reserve has lowered interest rates by 25 basis points to 4.00%-4.25%, marking its first policy easing this year. This decision follows August's disappointing jobs report showing just 22,000 positions added—far below expectations—and a rising unemployment rate of 4.3%.
Market participants now await Chair Powell's upcoming speech for signals about future cuts. The dissent of Governor Miran, who advocated for a more aggressive 50 bps reduction, underscores growing concerns about economic momentum. While inflation remains above target, labor market weakness appears to have tipped the scales toward accommodation.
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