Fed Chair Powell started his press conference noting that while unemployment remains little changed over the past year, the recent pasce of job creation is running below the target “breakeven rate,” adding that the labor marekt is less dynamic and somewhat softer. Even as unemployment has “edged up,” it remains low, and that payroll job gains have slowed as well. Meanwhile, Powell said the Fed’s base case is that tariff impact on inflation are short-lived, and the disinflation appears to be continuing in services.
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