Federal Reserve Chair Jerome Powell gave the all clear for interest rate cuts to begin as hiring and job gains slow down.
“The time has come for policy to adjust,” Powell said in a Friday speech from Jackson Hole, Wyo. that looked back over the monetary response to the pandemic.
“The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks,” Powell said.
The Hill
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