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Fed shifts focus from inflation to labour market stability with latest cut – private banks

Marriner S. Eccles Federal Reserve Board Building (Eccles Building) that houses the main offices of the Board of Governors of the US Federal Reserve.

Private banks believe the US Federal Reserve is shifting its focus from controlling inflation to supporting the labour market with a 50 basis point rate cut. Federal Reserve chair Jerome Powell stated on Wednesday that the 50 basis points cut “reflects our growing confidence that, with an appropriate recalibration of our policy stance, strength in the labour market can be…

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