The Fed's long-awaited rate cuts will open up the job market — but it could take a while
The unemployment rate will likely climb before Fed rate cuts help open up the job market, two policy experts said.
Kevin Dietsch/Getty, Tyler Le/BI
- Unemployment is currently at its highest level since 2021 amid corporate cost-cutting efforts.
- Fed rate cuts could help drag the job market out of its ongoing slowdown.
- But experts told BI the cuts work with a lag, meaning labor-market relief won't come for a while.
The US job market has certainly seen better days.
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