… so that they can pay less on car loans, so they can pay less on credit cards. But don't make any mistake. They didn't lower interest rates because they think The Fed lowered interest rates because they expressed a lot of concern about the job market. And, and Jay Powell in fact talked yesterday about whether or not there's actual negative growth, that's how they put it, contraction overall in the labor market. (00:53–00:59)
CLAIM
Asserts that the Federal Reserve lowered interest rates due to concerns about the job market.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
