Andrew E. Law, chairperson and chief executive of Caxton Associates, said that while Federal Reserve Chairperson Jerome Powell had said "the time has come to adjust monetary policy", the magnitude and pace of interest rate cuts remain uncertain, and the Fed should cut rates sharply and quickly. The Fed, unlike other central banks, has a statutory dual objective of price stability and full employment. Now that Powell has expressed confidence that inflation is moving towards the 2 per cent target, attention is focused on the outlook for the labour market.