Fed chief Powell says a frail U.S. labor market has stabilized. Low jobless claims back him up.

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Federal Reserve chief Jerome Powell said Wednesday that the U.S. jobs market seems to have stabilized after a big letdown last year, justifying a decision to leave interest rates unchanged. The latest jobless-claims report appears to support his claim.

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Fed chief Powell says a frail U.S. labor market has stabilized. Low jobless claims back him up.

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