Fed Chair Powell Sees No Immediate Concern in Cooling Labor Market

According to Odaily, Federal Reserve Chair Jerome Powell has indicated that while the labor market may be experiencing a gradual cooling, this is not a cause for concern given the strong labor force participation and healthy wage growth. Powell noted that although economic uncertainty has decreased, it remains at a high level. He expressed willingness to wait for more information before deciding on further actions, as long as the current labor market conditions are accompanied by reasonable economic growth and gradually declining inflation.