The American economy is still in good shape despite some risks. That is what President Jerome Powell of the American umbrella of national banks, the Federal Reseve, said. He did not give many indications as to whether a new interest rate cut would be coming soon. In general, economists do count on that.
Powell pointed to low unemployment and inflation close to the 2 percent target. The Fed boss did not refer in detail to the job report released earlier in the day. In addition to a historically low unemployment rate, it also emerged that job growth slowed and that the average hourly wage remained the same.
Powell acknowledged that “not everyone fully participates in economic opportunities.”