Fed Chair Jerome Powell Remains Unfazed by Economic Worries Despite Calls to Act Immediately on Rate Cuts

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Growing concerns about the economy pressure Federal Reserve Chair Jerome Powell to act quickly, yet he remains unalarmed. Despite an unexpected rise in unemployment, the Fed sees no immediate need for action, with inflation nearly tamed. Critics like Sen. Elizabeth Warren demand rate cuts to save the labor market, fearing recession amid the election season. Powell dismisses political influence, hinting at possible rate cuts in September.
Transcript
00:00It's Benzinga, and here's what's on the block.
00:02Growing concerns about the economy are putting pressure on Federal Reserve Chair Jerome Powell
00:07to act quickly, yet he remains unalarmed.
00:10Despite an expected rise in unemployment, the Fed sees no immediate need for action,
00:15with inflation nearly tamed.
00:16Critics like Senator Elizabeth Warren demand rate cuts to save the labor market, fearing
00:21recession amid the election season.
00:23Powell dismisses political influence, hinting at possible rate cuts in September.
00:27For all things money, visit Benzinga.com.
00:30For more information visit www.benzinga.com

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