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Powell Warns Hiring Slowdown Threatens Economy Amid Rate Talks

10/18/2025

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Summary

Story summary

Federal Reserve Chairman Jerome Powell warned that a hiring slowdown risks the U.S. economy and indicated potential interest rate cuts.
In a Philadelphia speech, he said a government shutdown affected data, yet employment and inflation look stable.
He defended the COVID-19 bond purchases, criticized for inequality, and said ending them was necessary.
A Senate measure to stop the Fed from paying interest on bank reserves was defeated.

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Story summary

Federal Reserve Chairman Jerome Powell warned that a hiring slowdown risks the U.S. economy and indicated potential interest rate cuts.
In a Philadelphia speech, he said a government shutdown affected data, yet employment and inflation look stable.
He defended the COVID-19 bond purchases, criticized for inequality, and said ending them was necessary.
A Senate measure to stop the Fed from paying interest on bank reserves was defeated.