Former Chicago Fed President: It may only take one or two weak employment reports to take aggressive rate cuts

Former Chicago Fed President Evans said Powell said the labor market is normalizing, wage growth is slowing, job openings remain healthy, and the unemployment rate is roughly in line with the level that policymakers believe is consistent with the central bank's 2% inflation target. If that were all, it would be good. But history is not optimistic. It does not look like that at the moment, but it may only take one or two weak employment reports before aggressive rate cuts are needed to combat rising unemployment. The longer you wait, the harder it will be to make actual adjustments. (Jinshi)