{"id":12758,"date":"2024-09-26T05:05:47","date_gmt":"2024-09-26T05:05:47","guid":{"rendered":"https:\/\/topat10.com\/?p=12758"},"modified":"2024-09-26T05:05:47","modified_gmt":"2024-09-26T05:05:47","slug":"jerome-powells-power-grows-after-fed-endorses-interest-rate-cut","status":"publish","type":"post","link":"https:\/\/topat10.com\/?p=12758","title":{"rendered":"Jerome Powell\u2019s power grows after Fed endorses interest rate cut"},"content":{"rendered":"\n

One week before Federal Reserve officials gathered in Washington this month, they were split over how fast to lower interest rates.<\/p>\n

\n

The economy wasn\u2019t flashing the kind of obvious warning signs that would typically prompt an aggressive response from the US central bank. But a notably weak run of jobs data, including the August employment report the previous Friday, had convinced Chair Jerome Powell that a bigger-than-usual rate cut was necessary to insure against rising risks to the labor market. A pair of inflation reports that week showing price pressures continuing to ease sealed the deal.<\/p>\n

When the Fed issued its decision on Sept. 18, forecasts showed a narrow majority of officials favored reducing their benchmark rate a full percentage point or more this year \u2014 implying at least one big cut. But a sizable minority penciled in just 75 basis points, suggesting support for three smaller moves.<\/p>\n

In the end, however, all but one of the 12 voting members of Federal Open Market Committee supported Powell\u2019s bid to start big with a half-point cut. That\u2019s a key victory for the chair as he tries to prolong an economic expansion many predicted would be over long before now. The lone holdout, Governor Michelle Bowman, called instead for a more\u00a0measured pace<\/a>\u00a0of cuts to avoid undermining progress on inflation.<\/p>\n

\u201cThe chair always has enormous power,\u201d said Mark Spindel, founder of Potomac River Capital and co-author of a book on the Fed and Congress. \u201cThere is a clear success story in Powell\u2019s ability to get all but Bowman on board, and he is a more powerful chairman now.\u201d<\/p>\n

Speaking at a post-meeting\u00a0press conference<\/a>, Powell called the half-point cut \u201ca good strong start\u201d that made sense from \u201can economic standpoint and also from a risk management standpoint.\u201d<\/p>\n

Another half-point cut can\u2019t be ruled out if the economy begins to stumble, economists say, given the priority Powell has put on keeping the economy near full employment so long as inflation is cooling.<\/p>\n

Powell could have the chance to tilt his colleagues toward a half-point cut again in the next few months should data on the labor market once again disappoint. A number of officials speaking in recent days have signaled they\u2019re likely to support quarter-point reductions moving forward, but left the\u00a0door open<\/a>\u00a0to another large cut.<\/p>\n

\u201cGiven his comments in Jackson Hole, and what we heard from him at the press conference, yes, I think Chair Powell would lean toward cutting 50 basis points again if there were further labor market weakness,\u201d said Matthew Luzzetti, chief US economist at Deutsche Bank<\/a>.<\/p>\n

Three Key Moments<\/h3>\n

Powell has asserted his leadership at three key moments over the past year.<\/p>\n

He signaled a\u00a0possible peak<\/a>\u00a0in rates in December 2023, a time when some officials thought they might have to hike further. After a surprising pickup in inflation in the first quarter of 2024, which startled many Fed officials, he patiently held rates steady until gaining confidence that price pressures began easing again. Some lawmakers complained he was putting the economy at risk. Finally, he opted for a big cut as the first move.\u00a0<\/p>\n

All of those actions were guided by a strong sense that high interest rates were cooling \u2014 not cracking \u2014 the economy, and inflation could be tamed with less cost to jobs than many economists thought possible.<\/p>\n

\u201cOur success in delivering on these goals matters to all Americans,\u201d he said at his Sept. 18 press conference.<\/p>\n

Powell framed the cut as taking out insurance against further weakening in the economy \u2013 an act of risk management.\u00a0<\/p>\n

\u201cYou can take this as a sign of our commitment not to get behind,\u201d Powell said last week. \u201cIt\u2019s a strong move.\u201d<\/p>\n

A 50-basis-point adjustment to rates is atypical for the Fed outside a crisis. One worry was that it would signal the Fed had grown concerned by signs of economic softening. Powell, instead, said the move was a sign of confidence that inflation was on track to returning to 2%, and, in a rare acknowledgment that a bigger move was his own strong preference, he said he was \u201cpleased\u201d with the decision.<\/p>\n

The most recent\u00a0jobs report<\/a>\u00a0not only showed employers added fewer positions than forecast in August but also revealed a weaker pace of hiring than initially estimated for the prior two months. Payrolls were marked down 86,000 across June and July, leaving the three-month average at its lowest since mid-2020.<\/p>\n

Risk management, a strategy embraced under former Chair Alan Greenspan, seeks to head off potential threats, even those that appear unlikely to materialize. And with a half-point cut leaving the Fed\u2019s benchmark rate still in restrictive territory, the cost of a large insurance cut was viewed as low by several officials.<\/p>\n

\u201cEven after the 50-basis-point cut, I believe the overall stance of monetary policy remains tight,\u201d Minneapolis Fed President Neel Kashkari wrote in a Sept. 23 essay, explaining why he supported the larger move.<\/p>\n

Lively Debate<\/h3>\n

Powell\u2019s calendars show he holds discussions with all 18 of his fellow officials a few days before each FOMC meeting. Those discussions give officials a sense of where the chair stands. Powell\u2019s strong endorsement of the bigger cut at the press conference suggests he favored the half-point cut in the week before the meeting as he began his usual calls.<\/p>\n

Some Fed officials who\u2019ve spoken since the meeting have described it, and the run-up to it, as featuring a lively debate.<\/p>\n

\u201cThere was active deliberations at the meeting,\u201d Kashkari said in a Sept. 23 interview on CNBC. \u201cThere was a lot of discussions, obviously, leading up to the meeting.\u201d<\/p>\n

Atlanta Fed president Raphael Bostic said the two weeks before every FOMC meeting is a time of \u201cintense discussions.\u201d\u00a0<\/p>\n

In a question-and-answer session after a speech on Sept. 23, he said, \u201cIf you want to get coordination, and you want us to all be able to coalesce around one course of action, it\u2019s going to require a lot of communication, engagement, and we do a lot of that.\u201d<\/p>\n

There were a handful of officials who saw a case for a quarter-point cut at the September meeting. That included Fed Governor Christopher Waller, one of the FOMC\u2019s most influential members.<\/p>\n

In a Sept. 6 speech, Waller made clear he favored lowering rates, but many interpreted his precise wording as making the case for a quarter-point move. In a CNBC\u00a0interview<\/a>\u00a0following the meeting, he said recent reports on consumer and producer prices that followed the speech ultimately pushed him to support a half-point move.<\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"

One week before Federal Reserve officials gathered in Washington this month, they were split over how fast to lower interest rates. The economy wasn\u2019t flashing the kind of obvious warning signs that would typically prompt an aggressive response from the US central bank. But a notably weak run of jobs data, including the August employment […]<\/p>\n","protected":false},"author":606,"featured_media":12759,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[123],"tags":[],"class_list":["post-12758","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"\nJerome Powell\u2019s power grows after Fed endorses interest rate cut | Unlock Informed Choices with Us<\/title>\n<meta name=\"description\" content=\"All but one of the 12 voting members supported Powell\u2019s bid to start big with a half-point cut.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/topat10.com\/?p=12758\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jerome Powell\u2019s power grows after Fed endorses interest rate cut | Unlock Informed Choices with Us\" \/>\n<meta property=\"og:description\" content=\"All but one of the 12 voting members supported Powell\u2019s bid to start big with a half-point cut.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/topat10.com\/?p=12758\" \/>\n<meta property=\"og:site_name\" content=\"Unlock Informed Choices with Us\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-26T05:05:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/topat10.com\/wp-content\/uploads\/2024\/09\/GettyImages-2172937049-e1727306387116.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2048\" \/>\n\t<meta property=\"og:image:height\" content=\"1365\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Craig Torres, Bloomberg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Craig Torres, Bloomberg\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/topat10.com\\\/?p=12758#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/topat10.com\\\/?p=12758\"},\"author\":{\"name\":\"Craig Torres, Bloomberg\",\"@id\":\"https:\\\/\\\/topat10.com\\\/#\\\/schema\\\/person\\\/636a489732dc5d63014654a6f313c7c3\"},\"headline\":\"Jerome Powell\u2019s power grows after Fed endorses interest rate cut\",\"datePublished\":\"2024-09-26T05:05:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/topat10.com\\\/?p=12758\"},\"wordCount\":1095,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/topat10.com\\\/?p=12758#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/topat10.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/GettyImages-2172937049-e1727306387116.jpg\",\"articleSection\":[\"Business\"],\"inLanguage\":\"en\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/topat10.com\\\/?p=12758#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/topat10.com\\\/?p=12758\",\"url\":\"https:\\\/\\\/topat10.com\\\/?p=12758\",\"name\":\"Jerome Powell\u2019s power grows after Fed endorses interest rate cut | Unlock Informed Choices with Us\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/topat10.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/topat10.com\\\/?p=12758#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/topat10.com\\\/?p=12758#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/topat10.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/GettyImages-2172937049-e1727306387116.jpg\",\"datePublished\":\"2024-09-26T05:05:47+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/topat10.com\\\/#\\\/schema\\\/person\\\/636a489732dc5d63014654a6f313c7c3\"},\"description\":\"All but one of the 12 voting members supported Powell\u2019s bid to start big with a half-point cut.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/topat10.com\\\/?p=12758#breadcrumb\"},\"inLanguage\":\"en\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/topat10.com\\\/?p=12758\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en\",\"@id\":\"https:\\\/\\\/topat10.com\\\/?p=12758#primaryimage\",\"url\":\"https:\\\/\\\/topat10.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/GettyImages-2172937049-e1727306387116.jpg\",\"contentUrl\":\"https:\\\/\\\/topat10.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/GettyImages-2172937049-e1727306387116.jpg\",\"width\":2048,\"height\":1365},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/topat10.com\\\/?p=12758#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/topat10.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Jerome Powell\u2019s power grows after Fed endorses interest rate cut\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/topat10.com\\\/#website\",\"url\":\"https:\\\/\\\/topat10.com\\\/\",\"name\":\"Topat10.com\",\"description\":\"Your Trusted Source for Honest Reviews on the Best Online Services, Products, and Websites – Unlock Informed Choices with Us\",\"alternateName\":\"Topat10\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/topat10.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/topat10.com\\\/#\\\/schema\\\/person\\\/636a489732dc5d63014654a6f313c7c3\",\"name\":\"Craig Torres, Bloomberg\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/?s=96&d=mm&r=g\",\"caption\":\"Craig Torres, Bloomberg\"},\"url\":\"https:\\\/\\\/topat10.com\\\/?author=606\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Jerome Powell\u2019s power grows after Fed endorses interest rate cut | Unlock Informed Choices with Us","description":"All but one of the 12 voting members supported Powell\u2019s bid to start big with a half-point cut.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/topat10.com\/?p=12758","og_locale":"en_US","og_type":"article","og_title":"Jerome Powell\u2019s power grows after Fed endorses interest rate cut | Unlock Informed Choices with Us","og_description":"All but one of the 12 voting members supported Powell\u2019s bid to start big with a half-point cut.","og_url":"https:\/\/topat10.com\/?p=12758","og_site_name":"Unlock Informed Choices with Us","article_published_time":"2024-09-26T05:05:47+00:00","og_image":[{"width":2048,"height":1365,"url":"https:\/\/topat10.com\/wp-content\/uploads\/2024\/09\/GettyImages-2172937049-e1727306387116.jpg","type":"image\/jpeg"}],"author":"Craig Torres, Bloomberg","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Craig Torres, Bloomberg","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/topat10.com\/?p=12758#article","isPartOf":{"@id":"https:\/\/topat10.com\/?p=12758"},"author":{"name":"Craig Torres, Bloomberg","@id":"https:\/\/topat10.com\/#\/schema\/person\/636a489732dc5d63014654a6f313c7c3"},"headline":"Jerome Powell\u2019s power grows after Fed endorses interest rate cut","datePublished":"2024-09-26T05:05:47+00:00","mainEntityOfPage":{"@id":"https:\/\/topat10.com\/?p=12758"},"wordCount":1095,"commentCount":0,"image":{"@id":"https:\/\/topat10.com\/?p=12758#primaryimage"},"thumbnailUrl":"https:\/\/topat10.com\/wp-content\/uploads\/2024\/09\/GettyImages-2172937049-e1727306387116.jpg","articleSection":["Business"],"inLanguage":"en","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/topat10.com\/?p=12758#respond"]}]},{"@type":"WebPage","@id":"https:\/\/topat10.com\/?p=12758","url":"https:\/\/topat10.com\/?p=12758","name":"Jerome Powell\u2019s power grows after Fed endorses interest rate cut | Unlock Informed Choices with Us","isPartOf":{"@id":"https:\/\/topat10.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/topat10.com\/?p=12758#primaryimage"},"image":{"@id":"https:\/\/topat10.com\/?p=12758#primaryimage"},"thumbnailUrl":"https:\/\/topat10.com\/wp-content\/uploads\/2024\/09\/GettyImages-2172937049-e1727306387116.jpg","datePublished":"2024-09-26T05:05:47+00:00","author":{"@id":"https:\/\/topat10.com\/#\/schema\/person\/636a489732dc5d63014654a6f313c7c3"},"description":"All but one of the 12 voting members supported Powell\u2019s bid to start big with a half-point cut.","breadcrumb":{"@id":"https:\/\/topat10.com\/?p=12758#breadcrumb"},"inLanguage":"en","potentialAction":[{"@type":"ReadAction","target":["https:\/\/topat10.com\/?p=12758"]}]},{"@type":"ImageObject","inLanguage":"en","@id":"https:\/\/topat10.com\/?p=12758#primaryimage","url":"https:\/\/topat10.com\/wp-content\/uploads\/2024\/09\/GettyImages-2172937049-e1727306387116.jpg","contentUrl":"https:\/\/topat10.com\/wp-content\/uploads\/2024\/09\/GettyImages-2172937049-e1727306387116.jpg","width":2048,"height":1365},{"@type":"BreadcrumbList","@id":"https:\/\/topat10.com\/?p=12758#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/topat10.com\/"},{"@type":"ListItem","position":2,"name":"Jerome Powell\u2019s power grows after Fed endorses interest rate cut"}]},{"@type":"WebSite","@id":"https:\/\/topat10.com\/#website","url":"https:\/\/topat10.com\/","name":"Topat10.com","description":"Your Trusted Source for Honest Reviews on the Best Online Services, Products, and Websites – Unlock Informed Choices with Us","alternateName":"Topat10","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/topat10.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en"},{"@type":"Person","@id":"https:\/\/topat10.com\/#\/schema\/person\/636a489732dc5d63014654a6f313c7c3","name":"Craig Torres, Bloomberg","image":{"@type":"ImageObject","inLanguage":"en","@id":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&r=g","caption":"Craig Torres, Bloomberg"},"url":"https:\/\/topat10.com\/?author=606"}]}},"jetpack_featured_media_url":"https:\/\/topat10.com\/wp-content\/uploads\/2024\/09\/GettyImages-2172937049-e1727306387116.jpg","uagb_featured_image_src":{"full":["https:\/\/topat10.com\/wp-content\/uploads\/2024\/09\/GettyImages-2172937049-e1727306387116.jpg",2048,1365,false],"thumbnail":["https:\/\/topat10.com\/wp-content\/uploads\/2024\/09\/GettyImages-2172937049-e1727306387116-150x150.jpg",150,150,true],"medium":["https:\/\/topat10.com\/wp-content\/uploads\/2024\/09\/GettyImages-2172937049-e1727306387116-300x200.jpg",300,200,true],"medium_large":["https:\/\/topat10.com\/wp-content\/uploads\/2024\/09\/GettyImages-2172937049-e1727306387116-768x512.jpg",768,512,true],"large":["https:\/\/topat10.com\/wp-content\/uploads\/2024\/09\/GettyImages-2172937049-e1727306387116-1024x683.jpg",1024,683,true],"1536x1536":["https:\/\/topat10.com\/wp-content\/uploads\/2024\/09\/GettyImages-2172937049-e1727306387116-1536x1024.jpg",1536,1024,true],"2048x2048":["https:\/\/topat10.com\/wp-content\/uploads\/2024\/09\/GettyImages-2172937049-e1727306387116.jpg",2048,1365,false],"mailpoet_newsletter_max":["https:\/\/topat10.com\/wp-content\/uploads\/2024\/09\/GettyImages-2172937049-e1727306387116.jpg",1320,880,false],"woocommerce_thumbnail":["https:\/\/topat10.com\/wp-content\/uploads\/2024\/09\/GettyImages-2172937049-e1727306387116-380x380.jpg",380,380,true],"woocommerce_single":["https:\/\/topat10.com\/wp-content\/uploads\/2024\/09\/GettyImages-2172937049-e1727306387116-1000x1365.jpg",1000,1365,true],"woocommerce_gallery_thumbnail":["https:\/\/topat10.com\/wp-content\/uploads\/2024\/09\/GettyImages-2172937049-e1727306387116-120x120.jpg",120,120,true],"shareblock_justify":["https:\/\/topat10.com\/wp-content\/uploads\/2024\/09\/GettyImages-2172937049-e1727306387116-800x533.jpg",800,533,true],"shareblock_small":["https:\/\/topat10.com\/wp-content\/uploads\/2024\/09\/GettyImages-2172937049-e1727306387116-120x120.jpg",120,120,true],"shareblock_largeslider":["https:\/\/topat10.com\/wp-content\/uploads\/2024\/09\/GettyImages-2172937049-e1727306387116-1920x1280.jpg",1920,1280,true],"shareblock_featurelarge":["https:\/\/topat10.com\/wp-content\/uploads\/2024\/09\/GettyImages-2172937049-e1727306387116-1000x650.jpg",1000,650,true],"shareblock_midlarge":["https:\/\/topat10.com\/wp-content\/uploads\/2024\/09\/GettyImages-2172937049-e1727306387116-760x600.jpg",760,600,true],"shareblock_slidergrid":["https:\/\/topat10.com\/wp-content\/uploads\/2024\/09\/GettyImages-2172937049-e1727306387116-500x350.jpg",500,350,true],"shareblock_featurelist":["https:\/\/topat10.com\/wp-content\/uploads\/2024\/09\/GettyImages-2172937049-e1727306387116-500x368.jpg",500,368,true],"shareblock_featuresmall":["https:\/\/topat10.com\/wp-content\/uploads\/2024\/09\/GettyImages-2172937049-e1727306387116-450x450.jpg",450,450,true],"shareblock_justify_sload":["https:\/\/topat10.com\/wp-content\/uploads\/2024\/09\/GettyImages-2172937049-e1727306387116-20x13.jpg",20,13,true],"shareblock_small_sload":["https:\/\/topat10.com\/wp-content\/uploads\/2024\/09\/GettyImages-2172937049-e1727306387116-20x20.jpg",20,20,true],"shareblock_largeslider_sload":["https:\/\/topat10.com\/wp-content\/uploads\/2024\/09\/GettyImages-2172937049-e1727306387116-20x13.jpg",20,13,true],"shareblock_featurelarge_sload":["https:\/\/topat10.com\/wp-content\/uploads\/2024\/09\/GettyImages-2172937049-e1727306387116-20x13.jpg",20,13,true],"shareblock_slidergrid_sload":["https:\/\/topat10.com\/wp-content\/uploads\/2024\/09\/GettyImages-2172937049-e1727306387116-20x14.jpg",20,14,true],"shareblock_midlarge_sload":["https:\/\/topat10.com\/wp-content\/uploads\/2024\/09\/GettyImages-2172937049-e1727306387116-20x16.jpg",20,16,true],"shareblock_featurelist_sload":["https:\/\/topat10.com\/wp-content\/uploads\/2024\/09\/GettyImages-2172937049-e1727306387116-20x15.jpg",20,15,true],"shareblock_featuresmall_sload":["https:\/\/topat10.com\/wp-content\/uploads\/2024\/09\/GettyImages-2172937049-e1727306387116-20x20.jpg",20,20,true]},"uagb_author_info":{"display_name":"Craig Torres, Bloomberg","author_link":"https:\/\/topat10.com\/?author=606"},"uagb_comment_info":0,"uagb_excerpt":"One week before Federal Reserve officials gathered in Washington this month, they were split over how fast to lower interest rates. The economy wasn\u2019t flashing the kind of obvious warning signs that would typically prompt an aggressive response from the US central bank. But a notably weak run of jobs data, including the August employment…","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/topat10.com\/index.php?rest_route=\/wp\/v2\/posts\/12758","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/topat10.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/topat10.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/topat10.com\/index.php?rest_route=\/wp\/v2\/users\/606"}],"replies":[{"embeddable":true,"href":"https:\/\/topat10.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12758"}],"version-history":[{"count":0,"href":"https:\/\/topat10.com\/index.php?rest_route=\/wp\/v2\/posts\/12758\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/topat10.com\/index.php?rest_route=\/wp\/v2\/media\/12759"}],"wp:attachment":[{"href":"https:\/\/topat10.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/topat10.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/topat10.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}