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The Independent UK

National

Christopher Rugaber

Federal Reserve faces a cooling job market as Chairman Powell suggests move towards cutting interest rates

US Federal Reserve Jerome Powell Inflation the Federal Reserve Economy Interest Rates the Senate Banking Committee

Copyright 2024 The Associated Press. All rights reserved.

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The Federal Reserve faces a cooling job market as well as persistently high prices, Chair Jerome Powell said in written testimony Tuesday, a shift in emphasis away from the Fed's single-minded fight against inflation of the past two years that suggests it is moving closer to cutting interest rates.

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