Fed’s Powell says jobs report was ‘a good one,’ signals low interest rates could last for years

Fed’s Powell says jobs report was ‘a good one,’ signals low interest rates could last for years

Federal Reserve Chairman Jerome Powell said Friday’s report showing 1.4 million Americans found or resumed work in August was good news, but the economy likely will require low interest rates for years.

“I would say today’s jobs report was a good one,” Powell said in an interview with National Public Radio conducted Friday afternoon. “Through May and June, we got quite a few people back to work.”

Employers added 1.4 million jobs last month, helping push down the unemployment rate to 8.4% from 10.2% in July, the Labor Department report said Friday. The jobless rate’s decline—it has dropped from near 15% in April at the beginning of the pandemic—put it below the peak from the 2007-2009 recession.



The U.S. economy lost nearly 22 million jobs between February and April, but has recovered around half of those since May. Through August, around 11.5 million fewer people had jobs than in February.

An expanded version of this report appears at WSJ.com.


Originally published on MarketWatch

S&P 500 
$3,327.34  $29.67 
NASDAQ 100 
$10,955.36  $125.59 
Dow Jones Industrial Average 
$27,745.21  $156.77 
Apple Inc. 
$107.98  $2.36 
Alphabet Inc. 
$1,449.32  $46.21 
MICROSOFT CORP 
168,98 €  3,42 € 
Tesla, Inc. 
$448.05  $24.62 
Berkshire Hathaway Inc. 
$328,564.40  $2.00 
AbbVie Inc. 
$89.70  $0.0700 
Costco Wholesale Corporation 
$336.00  $2.88 
Smartsheet Inc. 
$45.41  $1.02 
Zai Lab Limited 
$78.22  $2.61 
Western Digital Corporation 
$37.32  $0.9700 
NVIDIA Corporation 
$489.83  $8.71 
Gold Dec 20 
$1,958.20  $8.30 
Crude Oil Oct 20 
$41.16  $0.0600 
BTC/USD 
$10,877.91  $71.08 
Bitcoin Cash USD 
$233.17  $0.2000 
LTC/USD 
$48.08  $0.7900 
ETH/USD 
$379.32  $9.70 
Dogecoin USD 
$0.0028  $0.0000