Federal Reserve Vice Chairman Jefferson: The U.S. job market is weakening and may come under pressure without policy support
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Federal Reserve Vice Chairman Philip Jefferson stated that the U.S. economy is expected to grow at a rate of about 1.5% for the remainder of this year, but the labor market may face pressure without policy support. He supports a 25 basis point rate cut at the September policy meeting to address the risks of inflation and the labor market. Jefferson also mentioned that the current labor market is gradually softening, and the impact of policies will become more evident in the coming months
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