Jerome Powell's Jackson Hole Speech
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The Fed may need to cut rates at its next meeting due to growing risks to the economy, including some “unusual” behavior in the job market that could become a cause for concern, Fed Chair Jerome Powell said Friday.
Federal Reserve chairman Jerome Powell said, “the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance”.
In his final speech at the Federal Reserve’s summer retreat, Chairman Jerome Powell said the changing economic landscape likely will bring lower interest rates.
More than $200 million in short positions got liquidated within the last one hour as Federal Reserve Chair Jerome Powell delivered his speech at Jackson Hole, Wyoming on Aug. 22. This is a developing story.
Wall Street is rallying on Friday toward its best day in months after the head of the Federal Reserve hinted the cuts to interest rates that investors and President Donald Trump crave so much may be on the way.
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