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Fed warns of slowing jobs and higher unemployment after rate cut move

Fed warns of slowing jobs and higher unemployment after rate cut move

The Fed’s latest statement warns of slowing job gains and an uptick in unemployment, with markets eyeing more cuts ahead.

by Estefano Gomez

1 min read

In Regulation

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The Federal Open Market Committee cut interest rates by 25 basis points today and added new language about rising unemployment risks in its statement, underscoring concerns over the labor market’s deterioration.

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The FOMC noted that “downside risks to employment have risen,” that “job gains have slowed,” and that the “unemployment rate has edged up.”

Analysts described the move as an insurance cut, with expectations that more rate reductions could follow.

Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.

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