Powell puts rate cut on table
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Powell delivered the guidance in a highly anticipated speech on Friday at the central bank's annual symposium in Jackson Hole, WY.
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Powell Says Conditions ‘May Warrant’ Interest Rate Cut In Jackson Hole Speech (Live Updates)
The Trump administration has pressured Powell, whose term as Fed chair expires next year, to step down as chair of the central bank.
Federal Reserve Chair Jerome Powell is set to speak Friday in Jackson Hole, Wyoming, at a Fed research conference. As always, traders will be listening for hints about what might happen with interest rates at next month’s Fed meeting. That’s as a weakening labor market sets the backdrop.
Get insights on the 2023 Fed Symposium in Jackson Hole. Explore market expectations, Powell's agenda, and potential rate cuts' impact on the economy.
The European Central Bank is likely to keep interest rates on hold next month but discussions about further cuts may well resume in the autumn if the economy weakens, five sources told Reuters.