Powell at Jackson Hole: ‘The time has come’ for the Fed to soon begin reducing interest rates
- Federal Reserve Chairman Jerome Powell announced "the time has come" for potential interest rate cuts, but provided limited details on timing and extent.
- In his Jackson Hole speech, Powell emphasized that the Fed's future decisions will rely on data and economic outlook.
- Powell expressed increased confidence in inflation's return to the 2% target, noting recent progress after earlier stagnation.
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