Claudia Sahm, the economist behind the Sahm Rule, praised the Chair of the Federal Reserve Jerome Powell‘s speech on X. According to Sahm, Powell emphasized the Fed’s dual mandate and indicated a significant shift in labor market policy. What Happened: Sahm highlighted a notable quote from Powell’s speech: “We do not seek or welcome further cooling in labor market conditions.” She praised this stance saying, “It’s truly remarkable,” emphasizing the importance of the Fed’s dual mandate. Sahm noted that she spent the weekend listening to Powell’s first six Jackson Hole speeches repeatedly. She o…
