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The United States Federal Reserve System will begin to cut jobs and plan to lay off a total of 300 employees by the end of the year. The Federal Reserve system has not experienced a decrease in its workforce since 2010, but the FED is claiming that early retirements and keeping vacant positions unfilled are large contributors to the drop in workers. The layoffs will be focused on technology support employees, who have become less needed as technology has rapidly improved. The job cuts at the Federal Reserve banks come during a time when Jerome Powell, the Federal Reserve Chair, is working to cut inflation while still keeping unemployment low. Powell has stated that the current United States economy is stronger than projected, but various individuals fear that the FED layoffs contradict Powell’s statements.