Jerome Powell

speaker

737 appearances 119 recordings 38 series first heard Mar 2018 last heard 11 Jun

Jerome Powell’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 68 in all, peaking in Jan 2026 with 43.

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The MeidasTouch Podcast · Furious Fed Chair Schools Trump with Devastating Message · 30 Oct 2025 podcast

Although official employment data for September are delayed, available evidence suggests that both layoffs and hiring remain low, and that both households' perceptions of job availability and firms' perceptions of hiring difficulty continue to decline.

In this less dynamic and somewhat softer labor market, the downside risks to employment appear to have risen in recent months.

So I think there are two things affecting the job market.

And one of them is just a dramatic reduction in the supply of new workers.

And that's two things.

That's declining labor force participation, which is a cyclical thing.

And then there's declining immigration, which is just

a big policy change that actually began in the last administration and it has been accelerated now.

So a big part of the whole story is that supply side story.

In addition, labor demand has declined.

So the labor, the unemployment rate has gone down, meaning that demand for workers is going down a little more.

than supply.

So that's that's what's going on.

And but it is mostly a supply function.

You know, it's mostly a function of the change in supply, I think, and many people think.

So the question then is, what does what does the you know, our tool do, which supports demand?

And, you know, so and I would just say when you're when you're in a situation where job job creation, if you adjust for

likely over counting in the way that BLS does its work is pretty close to zero.

So maximum employment on a sustainable basis, if you're creating zero jobs, if it's in equilibrium, if it's in balance, it's a pretty, as I said before, a pretty curious balance.

I thought, and many of my colleagues thought, in fact, you've seen the last two meetings, that it was appropriate for us to react by supporting demand with our rates.

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