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The FOMC will be meeting later this month, on Sept 21–22, and will be faced with what appears to be mixed evidence on progress towards its employment and inflation objectives.
New claims for unemployment insurance for the week ending September 4 were down to 310,000, and have showed continued improvement since midyear, and are the lowest since March 2020.
The FOMC will have two more updates on the unemployment situation before its September meeting.