Cooling US jobs market looms over central bankers at Jackson Hole

The Fed has brought down inflation but must now steer the economy away from recession. This delicate balancing act is on show in Pennsylvania’s Lehigh Valley.

Colby Smith

Aug 22, 2024 – 3.38pm

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A short drive from the plant that once housed industrial titan Bethlehem Steel before its bankruptcy in 2001, Lehigh Valley Plastics each week produces tens of thousands of parts needed in machines across the US.

Operating out of a 5300-square-metre warehouse, it manufactures sheaves for cranes, wear pads for truck producers and gaskets used by the oil industry. Its clients also include medical equipment producers and food companies.

Financial Times