Federal Reserve Governor Powell: "Wholeheartedly" supports a 50 basis point rate cut
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Fed Governor Cook fully supports a 50 basis point rate cut, believing that this reflects confidence in moderate economic growth and sustained decline in inflation. She mentioned that the labor market is trending towards balance, with inflation returning to the 2% target, but also acknowledged that economic normalization may make it harder for certain groups to find jobs. Cook emphasized the potential impact of artificial intelligence on labor productivity and called for social attention to the retraining and support of displaced workers
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