The Fed is widely expected to cut rates at its next meeting in September.
Federal Reserve Chair Jerome Powell on Friday indicated that the central bank would soon begin cutting interest rates.
At previous meetings, Powell said the Fed needed to be confident that inflation had begun moving sustainably downward to its target rate of 2% before instituting rate cuts. On Friday, Powell appeared to indicate that the Fed had achieved that objective.Price increases have slowed significantly from a peak of more than 9%, but inflation remains nearly a percentage point higher than the Fed's target rate of 2%.
The Fed is guided by a dual mandate to keep inflation under control and maximize employment. In theory, low interest rates help stimulate economic activity and boost employment; high interest rates slow economic performance and ease inflation.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fed Chair Powell says 'time has come' for shift toward interest rate cutsThe Fed is widely expected to cut rates at its next meeting in September.
Read more »
Fed Chair Powell says 'time has come' for shift toward interest rate cutsThe Fed is widely expected to cut rates at its next meeting in September.
Read more »
Fed Chair Powell says 'time has come' for shift toward interest rate cutsThe Fed is widely expected to cut rates at its next meeting in September.
Read more »
Fed Chair Jerome Powell: Time Has Come for Policy to AdjustStephen Alpher is CoinDesk's managing editor for Markets. He holds BTC above CoinDesk’s disclosure threshold of $1,000.
Read more »
WATCH LIVE: Fed Chair Jerome Powell speaks at Jackson HoleWATCH LIVE: Fed Chair Jerome Powell speaks at Jackson Hole
Read more »
Fed Chair Powell indicates interest rate cuts ahead: ‘The time has come for policy to adjust'Powell laid the groundwork for interest rate cuts ahead, though he declined to provide exact indications on timing or extent.
Read more »