Fed Chair Powell Signals Imminent Rate Cuts Amid Evolving Economic Risks
In a pivotal speech at Jackson Hole, Jerome Powell highlights diminished inflation threats and increased employment concerns, setting the stage for policy adjustments.
- Powell indicated that the Federal Reserve is prepared to start cutting interest rates in September.
- The Fed Chair emphasized that the pace and timing of rate cuts will depend on incoming economic data.
- Markets responded positively, with stocks and bonds rallying following Powell's speech.
- Powell's remarks reflect confidence in achieving a 'soft landing' without triggering a recession.
- The Fed's focus is shifting from solely combating inflation to also supporting the labor market.
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