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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.
Powell delivered the guidance in a highly anticipated speech on Friday at the central bank's annual symposium in Jackson Hole, WY.
While Trump frames the issue as consumer pain, Wharton’s Joao Gomes told Fortune that cheaper borrowing would also ease interest payments on the government’s $37 trillion debt burden—likely a central motivation.