📰 Fed’s Williams Talks Labor Market & Rate Cuts

Federal Reserve official Williams said the U.S. labor market is gradually cooling, though still strong. The unemployment rate rose slightly to 4.2% in July from 4.1% in June, while weak non-farm payroll data gives Fed Chair Powell room to push for rate cuts.

Williams emphasized downward revisions to May and June job growth as the main takeaway, showing a slowdown in labor momentum. While the market expects a rate cut in September (80%), Williams stayed cautious, saying both markets and policymakers face similar challenges.

He expects U.S. growth to slow to 1% in 2025, with recovery possible in 2026.

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