Powell Signals Another Cut as Weak Hiring Pressures Unemployment
Jerome Powell speaks during the National Association of Business Economics (NABE) annual meeting in Philadelphia, Pennsylvania, on Oct. 14.
Photographer: Hannah Beier/BloombergFederal Reserve Chair Jerome Powell signaled the US central bank is on track to deliver another quarter-point interest-rate cut later this month, even as a government shutdown significantly reduces its read on the economy.
Powell, in a speech Tuesday at the National Association for Business Economics annual meeting, said that the economic outlook appeared unchanged since policymakers met in September, when they lowered interest rates and projected two more this year.