During a highly anticipated speech at the NABE conference, Fed Chair Jerome Powell discussed the current economic conditions, emphasizing the tension between inflation and job creation. Powell indicated that while the economy shows some signs of stability, there are significant risks to the labor market that could necessitate further rate cuts. He highlighted the ongoing slowdown in US hiring and reiterated that the Fed is adopting a cautious, meeting-by-meeting approach to monetary policy, signaling potential future cuts. As markets reacted to his comments, concerns arose about possible volatility in stocks and cryptocurrency values.