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The US labor market is showing signs of losing momentum, prompting concerns at the Federal Reserve. Powell mentioned at the European Central Bank Forum that the labor market is gradually cooling off, a development welcomed by policymakers. The market is seen as less overheated compared to previous years, with both the Fed and Wall Street monitoring for a potential 'tipping point' to avoid significant economic repercussions.
🇺🇸 US Labor Market Shows Signs of Losing Steam, Putting the Fed on Alert – Bloomberg https://t.co/KjTT6VkAQp https://t.co/8OjJMKt6yC
The US labor market is cooling off--it is much less overheated than a year or two ago. The Fed and Wall Street are on alert for a possible "tipping point," where there would be real pain. The Fed wants very much to avoid that. https://t.co/oRel4Ess1R via @Jonnelle @economics
At the European Central Bank Forum, Powell added that the labor market is cooling off slowly, which is what "we've been hoping to see". https://t.co/lMdMpFsYza https://t.co/5IeBWed8J6
