The weakening labor market has become the Fed’s prime focus as rate cuts come into view. It’s essentially become a no-hire, no-fire market, which may work fine for people holding on to their current jobs, but it’s rough for unemployed job hunters. That search isn’t likely to get much easier after any rate cuts, experts said.

Senator Tim Scott, chairman of the powerful Senate Banking Committee, said a half point rate cut is possible today.

James Bullard, the former president of the Federal Reserve Bank of St. Louis, said Monday he’d spoken last week with Treasury Secretary Scott Bessent about becoming central bank chair, and that he’s very interested in the job under the right set of conditions.

"Obviously nobody wants a recession. But also in the context of Fed independence, they really don't want to get blamed for going into a downturn because that would impair their ability."

Schwab’s chief investment strategist, Liz Ann Sonders, and Schwab senior investment strategist Kevin Gordon argue that housing has been “out of sync” with the broader economy for much of the post-pandemic period and remains stuck in what Gordon described as a “mini-recession.” The two made the comments during Schwab’s latest “Market Talk” webcast.

European Central Bank President Christine Lagarde warns that President Trump's threats to the Federal Reserve's independence pose serious economic risks to the U.S. and world.