New Zealanders are seeking opportunity overseas at unprecedented rates amid disillusionment over house prices and jobs.
The central bank said it now needs to guard against the risk that the economy is too weak.
The US Fed has signalled rate cuts are coming, while other major central banks have started lowering borrowing costs.
Powell says the ‘downside risks to employment have increased’ as he lays out his rationale for rate cuts.
The downgrade has raised concerns the US economy is slowing and the Fed has waited too long to cut interest rates.
Harris’s economic views are largely unknown, but inflation is a red flag for the Democratic presidential nominee.
The annual increase in inflation slowed to below three percent for the first time in nearly 3.5 years.
The unexpected rise of US unemployment rate to a nearly three-year high has shaken the market and split economists.
Petrol will cost up to 15 percent more from Friday.
Households have cut back discretionary spending as they set aside money to pay debt, slowing growth.
Experts say lack of jobs for university graduates driving unrest in the South Asian country.
Plans to hike tariffs, tighten immigration and cut taxes are likely to crimp growth and fuel inflation, experts say.
Cutting interest rates ‘too late or too little could unduly weaken economic activity and employment’, Powell said.
Record 71 million people are expected to travel on upcoming long weekend, a growth trajectory similar to pre-pandemic.
