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On Friday morning, Federal Reserve Chairman Jerome Powell delivered a keynote speech at the central bank’s annual retreat in Jackson Hole, Wyoming.
Fed Chairman Powell says interest rates will be cut in the future – “It’s time for policy adjustments”
Powell is widely expected to chart a path forward that includes cutting interest rates as inflation slows and concerns grow about the durability of the U.S. economic expansion.
In previous years, he used Jackson Hole to propose major policy initiatives and intentions. The Fed is widely expected to begin cutting interest rates in September and continue a series of rate cuts through at least 2025.
Read more:
Fed meeting minutes show ‘possible’ interest rate cut in September
Fed survey reveals sluggish employment rate, concerns about finding a job, dissatisfaction with wages
Philadelphia Fed President Harker advocates rate cut in September
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