• Balance of risks have shifted more towards labour market and away from inflation
• Inflation is making progress
• But labour market is showing some concerning signs

He’s reiterating what we already have come to know in recent weeks. They’ve been teeing up a rate cut in September and this just contributes to that narrative. We’ll see if Powell will be more explicit during his appearance at Jackson Hole later this week.

This article was written by Justin Low at www.forexlive.com.