Federal Reserve Chair Jerome Powell stated that the U.S. labor market is stagnant, but the economy may be improving. Policymakers will consider interest rate cuts as inflation remains high. Powell hinted at the end of quantitative tightening. Market reaction: stocks flat, bonds yields slipped, dollar weakened. Analysts predict potential rate cuts in the future to address labor market weakness.

Read more at Yahoo Finance: Fed’s Powell says economy on firmer footing, QT end in view