Federal Reserve Chair Jerome Powell delivered a blunt message for investors who have assumed the central bank would be on cruise control toward a third rate cut in December: Not so fast.

Core Viewpoint - Federal Reserve Chair Jerome Powell cautioned against the assumption that another interest rate cut is imminent, highlighting the complexities of navigating an economy characterized by solid consumer spending but a slowdown in hiring [1] Economic Conditions - Consumer spending remains robust, indicating a strong demand side in the economy [1] - Hiring trends have shown a slowdown, suggesting potential challenges in the labor market [1] Monetary Policy Implications - Powell's remarks signal a careful approach to monetary policy, emphasizing that decisions will be based on evolving economic data rather than assumptions [1] - The Fed is likely to remain vigilant in assessing economic indicators before making further rate adjustments [1]