Powell Highlights Commitment To Price Stability And Strong Labor Market

According to BlockBeats, on August 23, Corpay's Chief Market Strategist Karl Schamotta emphasized a key statement from Powell's speech, indicating that they will 'do everything possible to support a strong labor market while making further progress on price stability.' Schamotta interprets this as Powell acknowledging growing concerns among policymakers about the direction of the labor market. Powell did not mention a 50 basis point rate cut for September, which aligns with market expectations.