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In Jerome Powell's brief remarks, he pointed out two key points:
1- The pace of monthly job creation has fallen below the "breakeven level" necessary to maintain a stable unemployment rate.
2- The risks associated with employment (rising unemployment) have begun to outweigh the risks related to inflation.
In other words, the continuation of this situation could lead to a greater increase in unemployment.
This statement means that Powell may lean towards lowering interest rates in the next two meetings, in an attempt to support the labor market before conditions worsen.
After Powell's remarks, the probability of a 25 basis point rate cut rose to 94% 💥
In Jerome Powell's brief remarks, he pointed out two key points:
1- The pace of monthly job creation has fallen below the "breakeven level" necessary to maintain a stable unemployment rate.
2- The risks associated with employment (rising unemployment) have begun to outweigh the risks related to inflation.
In other words, the continuation of this situation could lead to a greater increase in unemployment.
This statement means that Powell may lean towards lowering interest rates in the next two meetings, in an attempt to support the labor market before conditions worsen.
After Powell's remarks, the probability of a 25 basis point rate cut rose to 94% 💥
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