Fed cuts interest rates citing “risks” to jobs market

Tonight, the country's central bank making a long- aaited pivot. With downside risks to employment having increased, the balance of risks has shifted. Fed chair Jerome Powell announcing a quarter point rate cut, the first in nine months, and putting the focus squarely on the softening US labor market.Powell seemingly less concerned than before about the risk of a return to runaway inflation, even though price increases have accelerated over the past four months. Powell acknowledging challenges for the overa ...