The Fed may need to cut rates at its next meeting due to growing risks to the economy, including some “unusual” behavior in the job market that could become a cause for concern, Fed Chair Jerome Powell said Friday.

Los banqueros centrales reunidos esta semana en Jackson Hole, Wyoming, para la conferencia anual de la Reserva Federal están dispuestos a ir más allá de intercambiar documentos de investigación y disfrutar de las vistas de las montañas: han venido a defender a Jerome Powell.

By Howard Schneider WASHINGTON (Reuters) -Fed Chair Jerome Powell used the central bank's annual Wyoming research conference to promise inflation-fighting rigor when it was needed in 2022, then last year he came to the defense of the job market with promises of lower interest rates when the unemployment rate seemed on a steady rise.

Inflation risks are still running high, while the job market shows signs of softening — “a challenging situation,” Powell acknowledged. “The baseline outlook and the shifting balance of risks may warrant adjusting our policy stance,