Powell puts rate cut on table
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Focus on Jackson Hole meeting
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Federal Reserve Chair Jerome Powell has been under pressure from President Trump to lower the central bank's benchmark interest rate.
Fed Chair Powell sparked a big rally as he signaled the central bank could cut rates in September in his remarks at the Jackson Hole policy symposium.
Follow live coverage and analysis of the Fed chairman's remarks at the Kansas City Fed's annual economic symposium in Jackson Hole, Wyoming, on Friday.
Wall Street rallied on Friday morning after Federal Reserve Chair Jerome Powell's signaled a rate cut could be on the horizon.
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The World’s 10 Wealthiest People Became $33 Billion Richer After Powell’s Jackson Hole Speech
Powell suggested the central bank may loosen its monetary policy, sparking a broader market surge and benefiting the world’s richest.
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.
Federal Reserve Chair Jerome Powell on Friday pointed to a possible interest rate cut at the U.S. central bank's meeting next month, but stopped short of committing to it, in remarks acknowledging both the growing risks to the job market and ongoing threat of higher inflation.
Federal Reserve Chair Jerome Powell on Friday said the central bank faces a "challenging situation" as a hiring slowdown coincides with tariff-driven price increases, putting pressure on both sides of the Fed's dual mission to maximize employment and control inflation.