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Fed Chair: Job Growth Overstated, Rate Cuts Justified

12/11/2025

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Summary

Story summary

Jerome Powell, Chair of the Federal Reserve, said job creation statistics may overstate growth by 60,000 jobs per month.
He added the labor market could be losing about 20,000 jobs per month, despite a 4.4% unemployment rate.
This uncertainty helped justify the Fed's third consecutive rate cut.
Powell called the economy 'very unusual,' with inflation driven by tariffs and a fragile labor market, and the Fed must balance its mandates.

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Story summary

Jerome Powell, Chair of the Federal Reserve, said job creation statistics may overstate growth by 60,000 jobs per month.
He added the labor market could be losing about 20,000 jobs per month, despite a 4.4% unemployment rate.
This uncertainty helped justify the Fed's third consecutive rate cut.
Powell called the economy 'very unusual,' with inflation driven by tariffs and a fragile labor market, and the Fed must balance its mandates.