All eyes will be on Federal Reserve Chair Jerome Powell on Friday as he delivers a keynote speech at the Kansas City Fed's economic symposium in Jackson Hole, Wyoming.
All eyes will be on Federal Reserve Chair Jerome Powell when he delivers the keynote speech at the central bank's summer symposium in Jackson Hole, Wyoming, on Friday. Powell is widely expected to use the speech to provide some hints about the timing of interest-rate cuts and where the Fed sees the economy headed over the next year.
They entered 2024 expecting to reduce rates at least three times this year, but have repeatedly pushed back their plans, even though inflation eased in April, May and June. US JOB GROWTH SLOWS TO 114K IN JULY WHILE UNEMPLOYMENT UNEXPECTEDLY JUMPS Higher interest rates tend to create higher rates on consumer and business loans, which then slows the economy by forcing employers to cut back on spending.
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