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Pride Flags and Rate Cuts: Fed Loosens Up to Connect With Average Workers

davfordavfor
in The OT Bullpen
A look at the ways in which the Fed is expanding both its policy making considerations and the audience it speaks to....
The Federal Reserve’s decision to cut rates for the first time in more than a decade was driven, in part, by a recognition that policymakers have a role to play in the fate of American workers.

Though the United States has experienced a record period of uninterrupted growth and unemployment is close to a 50-year low, many people have remained on the sidelines or have seen only modest pay increases. By lowering rates this week to help the economy, the Fed could foster a labor market that draws in disadvantaged workers while prodding companies to raise wages.

“The best thing we can do for those people is to sustain the expansion, keep it going,” the Fed’s chair, Jerome H. Powell, said after the move. “That’s one of the overarching goals of this move — and all of our policy moves.”
https://nytimes.com/2019/08/02/business/economy/fed-rate-cut-workers.html
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