Powell Signals Fed's Readiness for Rate Cuts at Jackson Hole

Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole Economic Policy Symposium has set the stage for potential interest rate cuts in the near future. Powell expressed growing confidence that inflation is approaching the Fed’s 2% target and acknowledged that further cooling in the job market would be unwelcome. He emphasized that the Fed is prepared to adjust its policy stance, with the timing and pace of rate cuts dependent on incoming economic data.