Powell, Bowman talk labor market woes

It was a big day for economic speeches from U.S. central bankers. Federal Reserve Chair Jay Powell addressed the Greater Providence Chamber of Commerce this afternoon, warning the room that the labor market continues to show some initial signs of weakness. Powell also cracked open the door to additional rate cuts this year.

Fed Gov. Michelle Bowman had a similar warning, and she made the case that the central bank should cut rates more aggressively earlier this morning.