Fed's Powell opens door to rate cut
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During a speech this morning at the Federal Reserve Bank of Kansas City’s economic symposium in Jackson Hole, Wyoming, Federal Reserve Chair Jerome Powell addressed the tensions behind the central bank’s upcoming decision on the federal funds rate.
Federal Reserve Chair Jerome Powell is set to give what could be his most consequential speech yet — just a few days after one of his colleagues was threatened with prosecution for alleged mortgage fraud.
If the famously data-dependent Federal Reserve Chair Jerome Powell shifts gears and takes a gloomier view of the job market, that could open the door for a rate cut at the Fed’s next meeting in September.