Powell: The Federal Reserve is cutting 10% of its workforce

ChainCatcher news, Federal Reserve Chairman Powell stated that the number of Federal Reserve employees is significantly decreasing, with the Federal Reserve currently laying off 10%. "After the layoffs are completed," the number of employees at the Federal Reserve will return to the level of ten years ago. When discussing the prospects for reform at the Federal Reserve, Powell said, "We certainly welcome constructive criticism and ways to do our job better," but he does not believe a formal review of the Federal Reserve is necessary. (Jin Ten)