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Powell Defends Rate Cut Amid Stock Market Concerns

9/26/2025

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Summary

Story summary

Jerome Powell defended the rate cut as a shift to a more neutral policy stance.
He noted a stagnating labor market and the Fed's commitment to mitigating hardships.
Powell's remarks caused a downturn in American stocks amid concerns over elevated asset prices.
Senator Jack Reed criticized the Trump administration but praised Powell's professionalism, citing artificial intelligence and higher education's role.

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Story summary

Jerome Powell defended the rate cut as a shift to a more neutral policy stance.
He noted a stagnating labor market and the Fed's commitment to mitigating hardships.
Powell's remarks caused a downturn in American stocks amid concerns over elevated asset prices.
Senator Jack Reed criticized the Trump administration but praised Powell's professionalism, citing artificial intelligence and higher education's role.