Federal Reserve Chair Jerome Powell signaled the central bank remains on course to cut interest rates later this month, citing weakness in the labor market despite lingering inflation concerns. Powell said the Fed is balancing two key risks—cutting rates too fast could leave inflation unresolved, while acting too slowly could trigger job losses. He also indicated the Fed may be nearing the end of its effort to shrink its $6.6 trillion asset portfolio, which was built up during the pandemic to support the economy. The Fed’s next policy meeting is set for October 28 and 29.
