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Powell did not say when rate cuts would begin or how large they might be, but the Fed is widely expected to announce a modest quarter-point cut in its benchmark rate when it meets in mid-September.
“The time has come for policy to adjust,” Powell said in his keynote speech at the Fed’s annual economic conference in Jackson Hole, Wyoming. “The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks.”
Powell at Jackson Hole: ‘The time has come’ for the Fed to soon begin reducing interest rates
originally posted by: Threadbarer
a reply to: BernnieJGato
The Fed just met yesterday and there was unanimous agreement that interest rates should be lowered next month.
originally posted by: Threadbarer
a reply to: marg6043
Once again, it's been known for months that interest rates were probably getting dropped in September. .
“All of us,” he told his party’s convention, “across the political spectrum, seem quick to assume the worst in others unless they agree with us on every single issue.”
the atlantic
originally posted by: FlyersFan
originally posted by: spacedoubt
It was great acceptance speech....
It was feel good platitudes without any substance and no explanation on how to make the feel good platitudes actually work.
If you are going for feelings and getting votes ... she did it right.
If you were going for grown up substance ... she failed.
originally posted by: Oldcarpy2
a reply to: spacedoubt
Looking forward to the debate.
I doubt that it will be the disaster that some are predicting either.
We'll see.