Powell: The Federal Reserve is cutting 10% of its staff.

Reference News, September 18 report - According to Reuters, September 17 report, Federal Reserve Chair Jerome Powell said on the 17th that the U.S. central bank is making significant layoffs.

Powell said at a press conference that the Federal Reserve is currently laying off 10% of its staff, and "after this process is completed," the number of Federal Reserve employees will return to the level of ten years ago.

About the prospects for reform of the Federal Reserve, Powell said: "We certainly welcome constructive criticism and suggestions for improving our working methods." But he believed there was no need for a formal review of the Federal Reserve. (Translated by Zhang Lin)

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