Powell at Jackson Hole: ‘The time has come’ for the Fed to soon begin reducing interest rates

AP Business Briefs: ‘The time has come’ for the Fed to begin reducing interest rates

Powell at Jackson Hole: ‘The time has come’ for the Fed to begin reducing interest rates

Powell says time has come' for Fed to soon begin reducing interest rates

With inflation nearly defeated and the job market cooling, the Federal Reserve is prepared to start cutting its key interest rate from its current 23-year high, Chair Jerome Powell said Friday. Powell did not say when rate cuts would begin or how large they might be, but the Fed is…

Fed's Powell says 'time has come' to cut interest rates

JACKSON HOLE, Wyoming: Federal Reserve Chair Jerome Powell on Friday (Aug 23) endorsed an imminent start to interest rate cuts, saying further cooling in the job market would be unwelcome and expressing confidence that inflation is within reach of the US central bank's 2 per cent target. "The time has co

‘Time has come’ to cut interest rates, Fed Chair Jerome Powell says

“The time has come for policy to adjust,” Powell said in a highly anticipated speech to the Kansas City Fed’s annual economic conference.

The president's reference to multiple rate cuts was the only clue that a series of reductions are likely, as economists have predicted.

‘The time has come’ to lower interest rates: Fed Chair Jerome Powell

Federal Reserve chairman Jerome Powell says he's increasingly confident that inflation will soon be tamed, setting the stage for the central bank to start cutting interest rates next month.Speaking at one of the most closely-watched annual gatherings of global central bankers in Jackson Hole, Wyo., Powell noted that inflation has cooled significantly since hitting a four-decade high in 2022.At the same time, the U.S. job market has begun cooling…