Federal Reserve Chair Jerome Powell said in August that the U.S. economy might be ready for an interest rate cut.
Treasury Secretary Janet Yellen sought to reassure the public on Saturday that the U.S. economy remains strong, despite a string of weak job reports that have rattled investors and weighed on the stock market.
« We’re seeing less frenzy in terms of hiring and job openings, but we’re not seeing meaningful layoffs », Yellen said at the Texas Tribune Festival in Austin. « I’m attentive to downside risk now on the employment side, but what I think we’re seeing, and hope we will continue to see, is a good, solid economy. »
Yellen said job growth has slowed compared to the « hiring frenzy » when the U.
