Federal Reserve Chair Jerome Powell warns of a hiring slowdown posing a risk to the US economy, signaling potential interest rate cuts. Powell reiterates Fed’s plan to reduce rates twice more in 2026. Economists expect further rate cuts following Powell’s remarks. Powell defends Fed’s bond purchases amid criticism from Treasury Secretary and potential chair replacements. Bipartisan group of senators failed to stop Fed from paying interest on bank reserves.

Read more at Yahoo Finance: Slowdown in US hiring suggests economy still needs rate cuts, Fed’s Powell says