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Fed's Daly says Fed cut rates to support labor market
Breaking news
Fed's Daly says Fed cut rates to support labor market
New
2025.09.20 04:13
2025.09.20 04:13
2025.09.20 04:13
Federal Reserve (Fed) Bank of San Francisco President Mary C. Daly noted late on Friday that the Fed's move to cut rates was to try and bolster a weakening labor market, noting a pointed softening of the US economy over the past year.
The comments come at a time when the Fed is facing not only additional scrutiny from the rate-cut-hungry Trump administration, but also questioning looks from markets about the Fed's political independence. Stephen Miran was confirmed by US Congress for his seat at the Fed's voting table just this week and sworn in an hour before this week's rate-setting meeting.
Key highlights
The job market has softened quite a bit over the last year.
Part of job-market slowing is about US economic outlook.
It's very challenging to know how much jobs slowing is from AI.
The Fed did a rate cut to try to support the labor market.
Last updated
: 2025.09.20
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2025.09.20 00:25
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Australian Dollar heads for weekly decline amid cautious Fed outlook
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New
2025.09.20 04:21Fed's Daly says Fed cut rates to support labor market
Federal Reserve (Fed) Bank of San Francisco President Mary C. Daly noted late on Friday that the Fed's move to cut rates was to try and bolster a weakening labor market, noting a pointed softening of the US economy over the past year.
New
2025.09.20 04:12Canadian Dollar pares losses despite Retail Sales miss, bucks Greenback trend
The Canadian Dollar (CAD) shrugged off broad-market performance on Friday, chalking in a 0.15% gain against the US Dollar (USD), the second-best currency on the books for the day.
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Gold price reverses its course on Friday after printing back-to-back bearish session, rises over 0.69% despite overall US Dollar strength across the board. Buyers emerged near the lows of the week at around $3,630 and drove the non-yielding metal higher.
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2025.09.20 03:28Banxico seen cutting rates to 7.50% in September - Reuters
Banco de Mexico (Banxico), Mexico's central bank is expected to reduce its main reference rate by 25 basis points to 7.50% on September 26, revealed a Reuters poll.
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2025.09.20 03:24Dow Jones Industrial Average chalks up strong weekly performance post-Fed
The Dow Jones Industrial Average (DJIA) chalked in another slim but decisive gain on Friday, bringing the major equity index's weekly performance to around a full percentage point gain.
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2025.09.20 02:45Stephen Miran confirms he was the 'bottom dot', insists immigration policy is deflationary
Newly minted Federal Reserve (Fed) Board of Governors member Stephen Miran, in a stiff departure from standard Fed rhetoric policy, revealed exactly where his opinion landed in the Federal Open Market Committee's (FOMC) latest Summary of Economic Projections (SEP).
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2025.09.20 01:47Canadian Dollar firms despite weaker July Retail Sales
The Canadian Dollar (CAD) strengthens against the US Dollar (USD) on Friday, with USD/CAD snapping a two-day winning streak and trimming earlier intraday losses despite a firmer Greenback and softer Retail Sales data.
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2025.09.20 00:38GBP/USD sinks below 1.3500 as King Dollar regains strength post-Fed
The British Pound is under heavy pressure of the "King Dollar" on Friday, down 0.52% even though the docket in the US is absent, with just Federal Reserve officials crossing the newswires. UK data although positive, Retail Sales failed to underpin Sterling. The GBP/USD trades at 1.3482.
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2025.09.20 00:25Disclaimer:
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