Fed Chair Jerome Powell on Friday, while voicing concern about tariff-induced inflation, flagged signs of job market weakness and signaled that the central bank at its next policy meeting on Sept. 16-17 may need to trim the main interest rate for the first time this year.
“Downside risks to employment are rising,” Powell said in a speech. “If those risks materialize, they can do so quickly in the form of sharply higher layoffs and rising unemployment.” READ MORE