Powell Admits The Fight Against Inflation Failed, Signals Rate Cuts Trying Not To, Weak Labor Market 

Powell Admits The Fight Against Inflation Failed, Signals Rate Cuts Trying Not To, Weak Labor Market is the bigger risk. The Fed pivots away from focus on fighting inflation as signs of economic weakness pose bigger threat. The deterioration in the labor market was highlighted and while He stated He didn't want to signal rate cuts the refocusing on there being bigger threats than inflation show an acknowledgment the fight against inflation needs to be called off.