This week, the Federal Reserve took note of the economy’s durability, with Chair Jerome Powell saying “the economy is performing well, the labor market remains strong.” The Fed made clear that while it’s nearing a long-awaited shift toward cutting interest rates, it’s in no hurry to do so. To fight inflation, the Fed raised its […]
Still, the job market is gradually decelerating along the lines that Fed officials have wanted to see. The Fed has raised its key short-term rate from near zero to about 5.4%, a 22-year peak, leading to higher borrowing rates for consumers and businesses and lower inflation. Despite that headwind, the economy and the job market […]