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.

Jerome Powell, the Federal Reserve chair, is managing a high-stakes balancing act as he grapples with a cooling labor market, rising inflation and White House pressure to cut interest rates.

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.

Wall Street’s so-called fear gauge was dropping Friday as investors cheered Federal Reserve Chair Jerome Powell’s Jackson Hole speech at an annual gathering of central bankers in Wyoming. The Cboe Volatility Index,

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,