BlackRock: The Fed's rate cut outlook depends on the weakness of the labor market

ChainCatcher news, according to Jinshi reports, BlackRock Investment Institute head Jean Boivin stated that the prospects for the Federal Reserve's interest rate cuts are likely to depend on whether the labor market remains sufficiently weak. He pointed out that Powell described the Fed's latest rate cut as a "risk management" response to worsening signs of weakness in the job market, which may mean that future policy actions will be highly data-dependent. Boivin believes that further weakness in the labor market will provide justification for more rate cuts from the Federal Reserve.