Federal Reserve Chairman Jerome Powell takes a question at a news conference at the William McChesney Martin Jr. Federal Reserve Board Building on July 31, 2024 in Washington, DC.
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Federal Reserve Chair Jerome Powell delivers his keynote speech Friday morning at the central bank's annual retreat in Jackson Hole, Wyoming.
Fed Chair Powell indicates interest rate cuts ahead — 'The time has come for policy to adjust'
Powell was widely expected to chart a path forward that includes interest rate reductions as the pace of inflation eases and concerns increase about the durability of U.S. economic expansion.
In previous years, he has used Jackson Hole to lay out significant policy initiatives and intentions. Markets widely expect the Fed to begin lowering rates in September and continue with a series of cuts through at least 2025.
Read more:
Fed minutes point to 'likely' rate cut coming in September
Fed survey shows lows in employment, worries about finding work and dissatisfaction with pay
Philadelphia Fed President Harker advocates for interest rate cut in September
Money Report
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