Fed Chair Jerome Powell signals path to rate cuts
Digest more
The job market is on such shaky ground that the Federal Reserve may soon need to cut interest rates to support the economy, Fed Chair Jerome Powell said Friday at a key central banking forum.
Federal Reserve Chair Jerome Powell carefully opened the door to an interest-rate cut in September, pointing to rising risks for the labor market even as worries over inflation remain.
Federal Reserve Chair Jerome Powell's closely watched Jackson Hole speech on Friday boosted optimism in markets that the U.S. central bank is poised to ease rates, sending investors to pile into riskier assets and interest-rate-sensitive sectors.
The Fed may need to cut rates at its next meeting due to growing risks to the economy, including some “unusual” behavior in the job market that could become a cause for concern, Fed Chair Jerome Powell said Friday.