Washington — Gary Cohn, IBM vice chair and former National Economic Council director in President Trump's first term, said Sunday that "we've seen the job market degrade," though he noted that it may be "temporary."

"The Federal Reserve itself and the board of governors admitted that we are having a declining job market. And we see that," Cohn said on "Face the Nation with Margaret Brennan ."

Last week, the Federal Reserve lowered its benchmark interest rate by 0.25 percentage points, in the first rate cut since December, amid slower economic growth and a stalling labor market. Fed Chair Jerome Powell, who has a dual mandate to ensure that both inflation and unemployment remain low, said "what's different now is that you see a very different picture of the risks to the labor mar

See Full Page