Viewpoint: Powell acknowledges that the Federal Reserve's concerns about the labor market are growing

ChainCatcher news, according to Jin Shi reports, Corpay's Chief Market Strategist Karl Schamotta stated that a key phrase in Powell's speech is that they will "make every effort to support a strong labor market while achieving further progress on price stability."

In my opinion, this indeed indicates that Powell acknowledges the growing concerns among policymakers regarding the direction of the labor market. Powell did not put a 50 basis point rate cut on the table for September, which somewhat aligns with market expectations.