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Core Viewpoint - Anna Paulson, President of the Philadelphia Federal Reserve Bank, publicly supports Jerome Powell's leadership amid ongoing political pressure and controversy surrounding the Federal Reserve [1][4]. Group 1: Support for Powell - Paulson emphasizes the importance of strong leadership at the Federal Reserve, stating that it benefits the American public [5]. - She aligns with other Federal Reserve officials who have also endorsed Powell's integrity and leadership [5]. - Powell is currently facing a criminal investigation related to a renovation project at the Federal Reserve's Washington headquarters, which Paulson supports him on [3][4]. Group 2: Monetary Policy and Interest Rates - Paulson indicates a cautious but clear stance on monetary policy, supporting recent interest rate cuts while suggesting that further cuts are not urgent [6]. - She believes the current interest rate level is "sufficiently high" and slightly above the neutral rate, which does not stimulate or suppress economic growth [6]. - Paulson anticipates significant progress in reducing inflation towards the Federal Reserve's 2% target by the end of the year, but is open to supporting small rate cuts later if inflation data continues to show easing [6][7]. Group 3: Labor Market Insights - Paulson expresses concern about the risks in the labor market, noting that 95% of private sector job growth last year was concentrated in healthcare and social assistance, which is not indicative of a healthy economy [8]. - She warns that signs of a rapid deterioration in the labor market would be closely monitored, as historical trends suggest labor market signals often dominate economic indicators [8]. - Paulson observes that companies are now more cautious in their pricing strategies, focusing on maintaining market share rather than aggressively raising prices [8].