The Fed may need to cut rates at its next meeting due to growing risks to the economy, including some “unusual” behavior in the job market that could become a cause for concern, Fed Chair Jerome Powell said Friday.

Bookending a three-day conference, “The stability of the unemployment rate and other labor market measures allows us to proceed carefully as we consider changes to our policy stance,” Powell told attendees.

On Aug.22, Federal Reserve Chair Jerome H. Powell said a job market “may warrant” interest rate cuts in the future at an economic conference in Jackson Hole, Wyoming.