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Fed Chair Jerome Powell signals "time has come" for interest rate cuts

Federal Reserve Chair Powell, speaking at a conference in Jackson Hole, Wyoming, said the timing and pace of rate cuts will depend on economic data.

By: CBS News

Aug 24 2024
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Fed Chair Jerome Powell signals "time has come" for interest rate cuts — Fed Chair Jerome Powell signal

Federal Reserve Chair Jerome Powell said "the time has come" for the central bank to adjust its monetary policy, signaling that rate cuts could soon lower borrowing costs for American consumers and businesses. Powell, who spoke at an annual conferenc... [4116 chars]

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‘The time has come’ to begin reducing interest rates