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Powell hints Fed is shifting policy focus from inflation to employment
2hours ago

Odaily Planet Daily News: Federal Reserve Chairman Powell emphasized that given signs that the labor market is "really cooling," the Fed is leaning towards "maximum employment" in its dual mission after a long period of greater focus on inflation. He said that since April, the risk of persistently high inflation has decreased, partly due to slower job growth. The Fed's basic assumption is that the impact of tariffs on inflation may be short-lived. On the other hand, he said, downside risks to the labor market have increased, and new jobs appear to be below the so-called "break-even rate" required to keep the unemployment rate unchanged. (Jinshi)