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Fed’s Powell says economy on firmer footing, though low-hiring, low-firing trend continues
Summary by Business Times
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Federal Reserve Chairman Jerome Powell said on Tuesday that the U.S. labor market remained stagnant in a state of "low hiring and low firing" as of September, but the economy was "more stable than expected." He pointed out that policymakers will adopt a "meeting-by-meeting" approach to determine the pace of interest rate cuts to balance the sluggish job market and above-target inflation.
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