Federal Reserve Chair Jerome Powell warned of economic risks from a slowing labor market and rising inflation during his speech at the Jackson Hole forum, suggesting potential rate cuts. With job growth falling short and inflation above the 2% target, the Fed faces pressure to adjust its policy, as indicated by a 72% probability of a rate cut at the upcoming September meeting.
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US cities push back after Trump administration unleashes federal show of force in DC
As the Trump administration increases troop deployments in cities like Washington, D.C., local Democratic leaders are resisting, asserting their autonomy and criticizing the federal government's tactics as divisive. Mayor Michelle Wu of Boston condemned the administration's actions as a means to distract from its failures and warned against undermining city laws, particularly those protecting undocumented migrants. Want More Context? 🔎
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