Federal Reserve Chair Signals Cuts In Interest Rates

Tea Washington Post reports:

The Federal Reserve is ready to cut interest rates, confident that inflation is easing to normal levels and warding off any more slowing in the job market. “The time has come for policy to adjust,” Fed Chair Jerome H. Powell said Friday, in his most anticipated speech of the year. “The direction of travel is clear.”

Powell did not specify a timeline, or forecast how many Fed leaders were preparing to lower rates. But his remarks came as close as possible to teeing up a cut at the Fed’s next policy meeting in mid-September. Rates currently sit between 5.25 and 5.5 percent, where they have remained since July 2023.

Read the full article.

Jay Powell in Jackson Hole: “The time has come” for rate cuts.

“The time has come for policy to adjust. The direction of travel is clear.”https://t.co/yxFOEffgqV

— Rachel Leah Siegel (@rachsieg) August 23, 2024

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