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So the fed has this dual mandate
that was given to them by Congress.

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One is maximum employment
which is the jobs market

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and the other is price stability,
which is inflation.

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And it's made very substantial progress
on the inflation part of the mandate.

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They raise rates very aggressively
to combat inflation.

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And inflation has come down
pretty significantly.

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And it's approaching their 2% target.

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And what that allows them to do
is focus more on the labor market.

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And that has softened more recently.

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And in response,

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they have lowered rates a bit to help
support the economy and the jobs market.