The Fed’s key short-term interest rate, which influences other borrowing costs for things like mortgages and auto loans, is currently 4.3%.

Federal Reserve chairman Jerome Powell signaled a possible interest rate cut in the months to come, sending stocks sharply higher.

The job market is on such shaky ground that the Federal Reserve may soon need to cut interest rates to support the economy, Fed Chair Jerome Powell said Friday at a key central banking forum.

President Trump has demanded for months that the Fed lower rates, but the potential economic effects worry experts.

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.