Fed chair says time has come to adjust policy
Powell warns of ‘unmistakable’ labour market cooling in speech at Jackson Hole summit
The chair of the US Federal Reserve used his keynote speech at the Jackson Hole Economic Symposium to warn of an “unmistakable” cooling in the country’s labour market.
Jerome Powell told attendees at the summit in Wyoming today (August 23) that although “the upside risks to inflation have diminished… the downside risks to employment have increased”.
He added that the time had come for “monetary policy to adjust”.
“The direction of travel is clear,” he said. “And the timing and pace of rate cuts
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