Job growth has slowed this year, averaging 167,000 per month compared with an average monthly gain of 223,000 in 2018
Fed officials reduced interest rates by a quarter-percentage point Wednesday and signaled a pause in further cuts unless the economic outlook changes materially
The Fed said it will 'monitor the implications of incoming information for the economic outlook as it assesses the appropriate path' of its target interest rate
The outburst followed the release of the Institute for Supply Management's factory index, which slipped to its lowest level since June 2009
There are limits to what central banks can achieve
Moderate economic activity, weak business fixed investment and exports, and global uncertainties promoted the Fed to lower the key interest rates, a second since the recession of 2008
The central bank's leadership is under immense political pressure from Trump, who denounces its reluctance to slash rates more aggressively on Twitter almost daily
The chair, under pressure from President Donald Trump to cut rates soon and deeply, listed a series of economic and geopolitical risks that the Fed is monitoring
The Fed released minutes of its July meeting later on Wednesday, which will provide an insight into its deliberations when cutting interest rates for the first time since the financial crisis
The Republican president has blamed the Fed under Chairman Jerome Powell for undercutting his administration's efforts to boost economic growth
Some Fed watchers predict officials will cut their benchmark by half a percentage point, but the signal is that they will eschew a bigger move in favor of a quarter point reduction
The yield on 10-year Treasuries fell to 2.04 per cent after climbing above 2.10 per cent for the first time in a month
Yields on two-year US Treasuries previously jumped to 1.87% from 1.76%
Powell took office in February determined to improve the Fed's communications with Congress and the public
The almost forgotten reappearance of one phrase gives hope to those seeking a more cautious Fed in 2019.
The Fed's independence is seen as a pillar of the US financial system
Powell said that his expectations for domestic economic growth have increased since the beginning of the year
The collapse of US investment bank Lehman Brothers in 2008 sparked chaos across the global financial system giving rise to the concept of 'too big to fail' institutions
Analysts say this will be a bright spot for a dollar that has struggled for most of the year
As the engine behind the world's most important economy, the Fed's influence is hard to overstate