Reported about 2 months ago
Federal Reserve Chair Jerome Powell announced that the time has come for the central bank to lower interest rates, signaling a significant shift in monetary policy. Speaking at the Kansas City Fed's symposium, Powell noted the recent downturn in labor market conditions and indicated that upcoming rate cuts will depend on incoming data and evolving economic outlook. Markets are anticipating the Fed's first rate cut since 2020 during their upcoming meeting in mid-September.
Source: YAHOO