Powell Says U.S. Economy Expanding at Moderate Pace as Labor Demand Cools

Speaking at the Federal Open Market Committee (FOMC) press conference on Dec. 11 in Washington, Federal Reserve Chair Jerome Powell said recent data show the U.S. economy is expanding at a moderate pace, according to BlockBeats. Powell noted that September labor market indicators reflected a slight increase in the unemployment rate, a significant slowdown in job growth, and a clear easing in labor demand, indicating reduced labor market momentum.